• October 29, 2021

Vik Bansal Explains How Australia Can Become Competitive in the Global Manufacturing Business

In the world today, every other country that is involved in the manufacturing process has some competitive advantages. There is no country that can survive in this undertaking if it does not have some advantages over other countries that are manufacturing similar products. There is no argument that the company will end up losing when it comes to industrial competition and might not be able to accomplish its industrial objectives.

Vik Bansal has been challenging Australia to have a robust manufacturing sector to meet the huge demand for locally manufactured goods. However, Vik is not naïve to the fact that the level of global competition is very high. This means that Australia needs to look for some of the best aspects that can help it to compete with other countries in the world. Without some strategic competitive techniques, it is worth indicating that the country wil be engaging in a losing battle.

Currently, China has been leading in the global manufacturing industry. Competing with China is not going to be an easier undertaking because of the labor force that the country is using. The huge population in Asia means that most of the countries in this region have been using the labor force as a competitive advantage. However, Australia can always rely on advanced technology as a competitive advantage. Vik Bansal CEO believes that the use of the right technology can help organizations to make some differences in the market.

According to Vik Bansal, technology will help Australia lower the cost of the products it has been offering to its customers. This is an essential approach that will help in changing how the country has been distributing its manufactured products around the world. Obviously, very many countries have been distributing expensive products that have been struggling to get sufficient market around the world. To know more click: here.