Falling manufacturing employment makes technology more important
19th May 2017
The recent growth in certain sectors of the manufacturing industry has come at an expense; employment is contracting.
Over the past 17 years, the market has shed 130,000 jobs, according to The Australian. There are a number of reasons behind the fact that hiring has slowed, and the occurrence of the worldwide economic recession nearly a decade ago is certainly near the top of the list.
Technology has helped sustain growth despite falling employment.
The fact is, though, the manufacturing industry is incredibly strong right now. In April, the AI Group bumped it up to 59.2 on the Purchasing Manufacturers Index (PMI), where anything higher than 50 is considered good. This is partly because employers are leaning on technology and digitisation now more than ever, and they're finding it works.
Hungry for knowledge
It's clear the market is gaining more success with less staff. Companies are looking for innovative ways to improve not only the warehouse floor, but how the company is run as a whole, according to Marcel Bick, the business development manager at Commonwealth Scientific and Industrial Research Organisation.
"Companies that are highly innovative have been reaching out to us to partner with them to develop innovative technologies," Bick told Manufacturers' Monthly. "They either ask us to create a new product for them or improve on existing technologies to improve processes and ultimately maximise cost savings."
With robotics and artificial intelligence dominating the headlines lately, some companies may not have picked up on the usefulness of business management software. Improving efficiency on the back-end of operations ultimately extends out to the day-to-day tasks, ensuring a cleaner and smoother running engine.
Where to improve
For small and medium-sized businesses, creating an entirely new product can be an arduous and expensive process, even if the financial benefits are valuable. These companies can really gain an edge and leverage their limited staff by investing in database software.
Inventory levels, accounting and order management can all be improved upon by automating previously manual methods of said tasks. Speeding up these taxing aspects that are vital to the organisation gives managers more time to assess other areas of need that might require more attention, all while ensuring complete and utter accuracy.
The upside of having a lean staff is that it takes little time to integrate small business management software - employers just have to take the first step. Contact an ABM representative today to find out more.
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