Australian Manufacturing Update with James Fazzino
We are thrilled to invite you to a special Live Online Mastermind session featuring James Fazzino, Non Executive Director at APA Group and Rabobank Australia.
This session will provide valuable insights into the Outlook for Manufacturing Australia; particularly around the current manufacturing trends and analysis, and a comprehensive understanding of what lies ahead for the manufacturing industry in Australia, enabling you to make informed decisions, adapt strategies, and seize opportunities within this dynamic sector.
With the increasing capital cost, regulations, globalisation and the myths around the industry, it becomes even more critical for businesses and industries to understand the implications and potential opportunities arising from these shifts and trends.
In this live online session, James will discuss:
- The current state of Manufacturing vs widely held myths
- Short term challenges and how best to navigate
- Investment – Onshore vs offshore
- How Australia’s long term competitiveness can be realised.
Our online sessions include an interactive Q&A Session, where you can engage directly with James Fazzino, allowing you to ask pressing questions and seek alternate perspectives. It is another way for you to benefit from the extensive experience and the collective wisdom of your fellow peer group members as you navigate the economic landscape and make informed business plans and decisions.
Event Resources
Event Wrap Up:Â
This Live Online Mastermind Session engaged the CXO cohort and CEO group members along with invited guests in a discussion on the current state and future of manufacturing in Australia. The primary conversations revolved around the significant role that manufacturing plays in the Australian economy, its future potential, the challenges it faces, and the role of artificial intelligence (AI) in driving growth.
Key Highlights:
- The Importance of Manufacturing in Australia: Manufacturing significantly contributes to Australia’s GDP, exports, and employment, and aids in national sovereignty. Manufacturing isn’t just about producing things, but it also involves an extensive value chain, from research & development to construction, process design, and technical advice.
- Potential For Growth: Despite challenges like higher costs and regulations, businesses with a local niche or a global game plan can benefit from manufacturing in Australia. There’s a need for change to enhance the competitiveness of the industry.
- Vision for the Future: Speaker 6 posited that the economy’s future lies in a manufacturing renaissance driven by renewable energy and hydrogen-based manufacturing. This could create two million new manufacturing jobs to replace dwindling industries like coal, gas, and iron ore.
- Role of AI: AI can significantly improve business efficiency and problem-solving capabilities. However, it was stressed that AI should not operate independently. There’s a need for a shift amongst executives to global thinking, optimization of value chains, and focusing on adaptive problem-solving.
- Efficiency in Manufacturing and Transportation: Efficient transport links and ports are key to manufacturing growth in Australia. An issue of coastal freight inefficiency hinders large scale benefits and growth.
- Mindset Shift and Going to the Gemba: A shift in executive mindset towards problem-solving and global thinking is critical. Speaker 6 also emphasized the importance of senior leaders observing the daily management system for better insights.
- Skills Gap in Manufacturing: A shortage of talent with technological skills exists in the manufacturing domain. There’s a need to attract more women into manufacturing careers.
- Government and Industry Collaboration: A call to action was made to the government to create a conducive environment for manufacturing growth. Emphasis was placed on the potential benefits of joint industry government projects in organic skill and IP development.
- Embracing New Technologies: The need for businesses to embrace digital transformation, invest in research and development was discussed, especially in the context of Digital Twins.
Action Items:
To improve manufacturing processes and competitiveness, the need for investment in research and development of AI and automation was echoed by the industry. The government was urged to establish an environment conducive for manufacturing growth, including fair regulations and infrastructural development. Universities should collaborate with companies to produce innovative solutions and align their research efforts with business needs. Businesses were encouraged to explore opportunities for growth. Lastly, individuals were encouraged to consider careers in manufacturing and acquire the skills necessary to support its growth.
Key Questions for Future Discussion:
Conversations around the current state and competitiveness of manufacturing in Australia, fostering a manufacturing renaissance, and the role of AI and automation in manufacturing processes were brought up as crucial areas for further exploration.
Meet the Speaker
James Fazzino is a strategic leader with an impressive track record taking local Australian business through significant growth & expansion into international markets. During his tenure as the Managing Director and CEO of Incitec Pivot (IPL), James led the largest Australian corporate growth story on record. Over his 14 year tenure, first as CFO and then as CEO, the company increased in size 6-fold to an enterprise value of $8bn. James is currently the Chairman of Manufacturing Australia, Chairman of Osteon Medical, a leading digital health business, Non-Executive Director of Australian Pipeline Limited, Non-Executive Director of Rabobank Australia Limited & Non-Executive Director of Tassal Group Limited, Vice-Chancellor’s Fellow & Adjunct Professor at La Trobe University. James passionately believes in diversity and is a member of the Melbourne Male Champions of Change group.
