This virus too shall pass.
And when it does, the implications for the Australian manufacturing industry are vast, according to Mr Nev Power, the recently appointed chair of the National COVID-19 Coordination Commission1. The commission holds responsibility to advise the government on ways to mitigate and anticipate the risks arising from the virus.
Mr Power believes that the manufacturing industry will experience a boom post-COVID-19, and with the supply chain disrupted from all the nation’s significant sources, we have the opportunity to overhaul our manufacturing industry. The potential to create more jobs, particularly within the asset management sector, is manifold. Mr Power notes that the industry could benefit from the pandemic and emerge stronger and more competitive. The commission is already working on short-term manufacturing possibilities to produce products urgently needed at this time, including Personal Protection Equipment (PPE) and medical supplies. But to remain competitive for the long-term a revamp of our manufacturing processes is needed2.
As many readers will already know, the manufacturing industry needs the principles of asset management. With so many engineering assets, large and small, used to manufacture goods, experts in maintenance and reliability, data and other areas of asset management will be in high demand.
And that is a perfect segue to make sure your asset management brain remains switched on in this time of lockdown. What better way to do so than by signing up to our online conference AMspeak. Click here for information and registration. We’re looking forward to virtually seeing you there.
1 Sourced: https://www.businessnews.com.au/Person/Nev-Power
2 Information in this paragraph sourced: https://www.afr.com/policy/economy/nev-power-s-plan-to-reboot-australian-manufacturing-20200402-p54gf2