What Challenges Await New Zealand’s Manufacturers?

What Challenges Await New Zealand’s Manufacturers?

manufacturing plantThe Employers and Manufacturers Association (EMA) urged manufacturing companies in New Zealand to invest more in new technologies to maintain its growth streak and prepare itself for challenges in the future.

Some of these investments include Industry 4.0, which involves automation, cloud computing and the Internet of Things among other modern technologies, according to EMA CEO Kim Campbell.

Industrial Revolution

Many subcontractors in the country have decided to keep up with the changing landscape of industry practices. Shot peening, for instance, has become more efficient after using technology to determine the right technique for a certain manufacturing process.

Manufacturers should then think of how they take advantage of this development to improve productivity and quality of their products. Campbell said that the industry also faces a greater need to hire more skilled workers, despite salaries being 15 per cent higher than the nationwide average. Artificial intelligence could be the solution to this problem, as it would reduce the need for manpower and cut costs at the same time.

Sustaining Growth

If the industry fails to increase its investments in new technology, the pace of growth would be at risk. According to the Business NZ-BNZ’s performance of manufacturing index, the sector reached a score of 52.2 in March compared to 53.3 in February.

While this seemed to be lower, a reading above 50 indicates growth within the industry and a score below it means a contraction. In the next three months, many manufacturing companies remain positive about growth prospects that would mean more business for suppliers and service providers. Their outlook remains bright despite production, employment and new orders posting declines for March.

Conclusion

Investments in digital technology remain crucial since the manufacturing industry can no longer avoid the inevitable; the emergence of a new industrial revolution. What is your strategy to keep your business afloat in the coming years?

The Employers and Manufacturers Association (EMA) urged manufacturing companies in New Zealand to invest more in new technologies to maintain its growth streak and prepare itself for challenges in the future. Some of these investments include Industry 4.0, which involves automation, cloud computing and the Internet of Things among other modern technologies, according to EMA CEO Kim Campbell. Industrial Revolution Many subcontractors in the country have decided to keep up with the changing landscape of industry practices. Shot peening, for instance, has become more efficient after using technology to deter ...

Technology Upgrade For Business

Technology Upgrade For Business

A Business Man Utilizing TechThe dawn of technological advancements is perceived in various ways. While it has positive effects, repercussions also exist. In business, where every bit matters, adopting technology can be both good and bad. However, when used correctly and well-moderated, it can do wonders.  

Benefits

Automation makes every business recording and communication faster, saving you heaps of time to focus on pressing matters. Additionally, automation allows you to free your staff from tedious encoding or bookkeeping functions that would mean fewer workers required, thereby cutting of labor expenses. 

Physical storage and resources are also eliminated through technology. Filing large amounts of paperwork covering meters of space can end through acquiring virtual data storage and digital recording.

With improved communication through technology, miles apart seems so near. And access to information assists in streamlining the decision making. Communication gaps of written messages are no longer a problem given the availability of cheap and fast calls both local and international.

Trends

Digitalizing your business also makes it vulnerable to cyber attacks, though. Good thing IoT security is ringing a bell and warning manufacturers to take necessary precautions.  

This is crucial as most offices and stores are now employing internet connections for most operations - surveillance, displays, records, locks and alarm systems. 

For large businesses, cloud computing and AI or Artificial Intelligence is huge, Taking recording, bookkeeping, data analysis, and inventory to a higher level of efficiency. 

Lastly, mobile payment has spread like wildfire. Mobile payment services and applications have sprouted so fast that options are endless; Apple Pay, Android Pay, Samsung Pay. NFC readers are available in most checkout stores for proximity payment technologies.  

Building the business from scratch is no piece of cake. That is why keen care is a must may it be a big or small business. Despite all these advancements, a good old consult if you plan for expansion or selling your business. In Salt Lake City, where the economy is impressively dynamic, at some point, one should listen to experts.

 

The dawn of technological advancements is perceived in various ways. While it has positive effects, repercussions also exist. In business, where every bit matters, adopting technology can be both good and bad. However, when used correctly and well-moderated, it can do wonders.   Benefits Automation makes every business recording and communication faster, saving you heaps of time to focus on pressing matters. Additionally, automation allows you to free your staff from tedious encoding or bookkeeping functions that would mean fewer workers required, thereby cutting of labor expenses.  Physical ...