The Advanced Manufacturing Growth Centre (AMGC) has launched a series of webinars, The Seven Steps Across the Manufacturing Value Chain, where over 200 Australian manufacturers have discovered new opportunities for growth.
By embracing the entire manufacturing value chain, including both pre- and post-production phases, manufacturers can add value to their existing products and business methods.
Step 1. Research and Development (R&D)
To remain competitive and understand current market conditions, R&D is essential. R&D enables manufacturers to introduce new products and services and innovate existing ones. Collaboration with research institutions such as universities can help expand R&D capabilities, to commercialise innovation and break into new markets.
Step 2. Design
Advanced design strategies streamline the production process to improve efficiency and productive. Digital design and rapid prototyping lead to lower product development costs and improved product customisation opportunities. This helps differentiate one manufacturer from another. Collaboration with design companies and other manufacturers enhances these benefits.
Step 3. Logistics
From the purchase of raw materials to production, shipping and supply chain management, logistics encompasses many services. Efficient logistic processes can help reduce costs, increase productivity, enter different markets and access global supply chains. Working with professional logistics businesses or experts can help leverage these potential improvements.
Step 4. Production
Production processes have evolved over the years. Now the most successful manufacturers take advantage of intelligent production processes and automation, new technology and equipment and score highly on measures like energy and water efficiency. With companies and experts specialising in areas like robotics and sensor technology, collaborating with industry professionals can accelerate production improvements.
Step 5. Distribution
Once production is complete, the product needs to be shared with customers and markets. Successful manufacturers are more likely to engage in global trade, exporting highly customised, highly valuable products and services into specialised or underserved markets. Efficient distribution processes and channels can help the manufacturer enter different markets and global supply chains. Employing the help of a specialised distribution company or expert can also be invaluable.
Step 6. Sales
Sales processes need to focus on customers’ needs. Strong, personalised sales processes can help a manufacturing company secure new customers and enter different markets, domestically and globally. Collaborating with a sales expert could help create a tailored sales plan and suite of activities.
Step 7. Services
Consumers expect personalised after-sales customer service, as well as ongoing marketing and communications activities. Services need to focus on the needs of customers, digitalisation and start-to-end support. Strong, personalised services can bolster your reputation and brand, helping you secure new customers and enter different markets.
To view AMGC’s Seven Steps Across the Manufacturing Value Chain webinar series, click here.