More than half of Australian manufacturers intending to reshore: survey

Survey results collected late-last year for e-commerce company PROS show over half of respondents intending to reshore over the next three years.

A survey of 500 senior manufacturing employees in Australia was conducted by research agency OnePoll in December 2020.

According to a statement from PROS, the research found that:

• 55 per cent of manufacturers intended to reshore operations over the coming three years;
• 22 per cent had already reshored;
• 78 per cent believed Australia had the technology, people and economic support to enable this; and
• Reflecting the company commissioning the survey, 82 per cent of respondents were “still in the planning process or yet to implement eCommerce channels to sell to domestic or international buyers,” suggesting they were “underprepared to compete in a digital economy.”

According to NYSE-listed PROS, a reshoring trend is driven by “the need to future-proof critical supply chains in the face of market change and disruption, to minimise risk and protect jobs in key industries.”

The Australian Manufacturing Outlook survey results were given a general release yesterday and were shared by The Australian Financial Review last Friday. 

Details of the report appear limited to what is in the media release. It includes no breakdown of the types of companies surveyed, a list of questions asked, a definition of reshoring, or details of how the poll was conducted.  

Reshoring is a topic that sometimes creates excitement among Australian manufacturers — especially contract manufacturers — but it remains hard to find independent, definitive information on trends. 

Picture: www.blumeglobal.com

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