The Australian manufacturing industry plays a significant role within the Australian economy providing both direct and downstream benefits. Australia is a high cost environment for manufacturing. However, other high cost environments provide lessons including:
- Focus on high value offerings in a “niche”
- Provide products and services that cannot be delivered competitively anywhere else in the world
- Provide products and services to create an end-to-end solution for customers
- Understand the value of knowledge and people
- Work together and collaborate
Innovation is often unnecessarily associated with large and costly R&D investments. Innovation covers a broad spectrum of improvement activities encompassing product, process, service and marketing. However, despite its prevalence, innovation is rarely managed in a structured manner and often attributed to good luck rather than good management. To reduce some of this complexity, firms should start by defining an innovation strategy and focusing on value add.
SPP is able to assist organisations at each of the critical phases of this process.
- Conducting an assessment of the organisation’s offering and performance
- Developing an innovation culture
- Identifying and assessing opportunities
- Execution planning
- Generating buy-in