The Creative Class

SMB manufacturers are cutting costs without cutting corners

Andrew Mamonitis, Vice President – APAC, Manufacturing Division, ECI Solutions In today’s volatile business landscape, small and mid-sized manufacturers (SMBs) are navigating a minefield of cost pressures. Inflation may be easing, however supply chains remain erratic, and the modern workforce demands greater flexibility. Many SMBs, desperate to stay afloat, are tempted by aggressive cost-cutting. Yet experts warn blunt force cuts can do more harm than good. For many SMBs, the question isn’t whether to modernise operations – but how fast. Leading SMBs are adopting modern precision strategies – leveraging real-time data, automation, and smarter planning tools – to trim waste without jeopardising growth. Eight key strategies they are embracing are: Making data-driven decisions: Modern enterprise resource planning (ERP) systems have transformed how SMBs uncover inefficiencies. With integrated analytics, businesses can now detect underperforming products, costly customers, and process bottlenecks that erode profits. Consider the case of a building supply firm. By analysing inventory data, they discovered specialty mouldings (long considered essential), were costly and slow-moving. By shifting these to a special-order model and doubling down on core items, they cut inventory costs while improving customer satisfaction. Inventory as a Strategic Asset: Many manufacturers still treat inventory as a necessary evil, overstocking to avoid shortages or running lean to conserve cash. But modern inventory management systems offer a better path. With AI-powered forecasting and unified inventory views, companies can optimise stock across multiple locations. One distributor, plagued by stockouts in one warehouse and excess in another, solved the issue by synchronising inventory across five sites. The result was lower overall stock levels and higher availability. Production planning that plays in harmony: Inefficient production planning is among the costliest problems for SMBs. A reactive approach (scrambling to meet yesterday’s demand) leads to overtime, delays, and wasted resources. A homebuilder suffering from poor […]

What is multimodal AI?

Multimodal AI is a type of artificial intelligence that can understand and process different types of information, such as text, images, audio, and video, all at the same time. Multimodal gen AI models produce outputs based on these various inputs. When you wake up in the morning, you reorient yourself into the world in a variety of ways. Before you open your eyes, you might hear the ambient sounds in your room (unless a not-so-ambient sound was what woke you up in the first place). You might feel cosey under the covers, or cold because you kicked them off while you were sleeping. And once you open your eyes, you get a visual sense of what is going on in your room. These sense recognitions, along with the moods they evoke, create a nuanced perception of the morning and set you up for the rest of your day. How multimodal gen AI models work Multimodal gen AI models work in a similar way. They mirror the brain’s ability to combine sensory inputs for a nuanced, holistic understanding of the world, much like how humans use their variety of senses to perceive reality. These gen AI models’ ability to seamlessly perceive multiple inputs—and simultaneously generate output—allows them to interact with the world in innovative, transformative ways and represents a significant advancement in AI. By combining the strengths of different types of content (including text, images, audio, and video) from different sources, multimodal gen AI models can understand data in a more comprehensive way, which enables them to process more complex inquiries that result in fewer hallucinations (inaccurate or misleading outputs). Today, enterprises that have deployed gen AI primarily use text-based large language models (LLMs). But a shift toward multimodal AI is underway, with the potential for a larger range of applications […]

Can reading the news make you richer?

Researchers have uncovered a novel way to forecast stock market volatility using daily business news. Business news can do more than report on financial markets; it can predict where they’re headed. That’s the finding from a new study by University of Auckland finance lecturer Dr Justin J. Case and Queensland University of Technology’s Professor Adam Clements, who show that utilising business news articles, specifically those published in The Wall Street Journal, can more accurately forecast stock market volatility than other commonly used methods. “Volatility is a common proxy for financial risk,” says Dr Case. “By accurately forecasting this risk, investors can take strategic steps to protect their investments before market shifts occur.” Using more than 1.1 million Wall Street Journal articles published between January 2000 and December 2022, the researchers analysed the language used in business reporting and linked it to fluctuations in the S&P 500 – the world’s most-watched equities index. Their study shows that news text offers a forward-looking, real-time lens on market conditions, delivering more accurate signals about risk than the retrospective data typically used in economic forecasting. The researchers applied a machine learning algorithm to news articles, sorting the text into topics and analysing these alongside high-frequency data on the S&P 500 index. “We’re looking at the world’s biggest equities market, and the biggest business newspaper in the US, and asking whether the news explains stock market volatility,” says Case. “We find that news coverage is strongly related to stock market volatility movements. And by analysing business news articles, we can identify both the topics and specific events influencing stock market volatility.” Additionally, the researchers found incorporating their news-based measures into benchmark volatility forecasting models reduced forecast errors by over 40 percent at the monthly horizon. They also found significant reductions in forecast errors at weekly […]

Tech Council of Australia and techUK sign landmark partnership

The Tech Council of Australia (TCA) and techUK have formally signed a Memorandum of Understanding (MoU), marking a significant milestone in technology industry collaboration between Australia and the United Kingdom. Signed during London Tech Week at the UK Department for Business and Trade in the Old Admiralty Building and announced at the Aus-UK Chamber of Commerce Tech Week Event at Australia House in London, the agreement builds on the momentum of the UK-Australia Free Trade Agreement (FTA) which came into force in 2023. The FTA includes the world’s first innovation chapter which recognises the important role that innovation plays in stimulating competitiveness, increasing productivity, encouraging investment and promoting international trade. It also includes a strong digital trade chapter emphasising the importance of promoting trusted data flows and enabling digital trade facilitation. The new TCA and techUK partnership is a practical step toward implementing the objectives of the FTA and formalises those ambitions at an industry level. TCA and techUK will work together to deepen cooperation and collaboration between tech sectors, with a focus on technology trade, regulation, investment, and innovation. This includes sharing knowledge and insights, aligning on regulatory and policy issues, and driving practical commercial opportunities for UK and Australian technology companies. At the core of the MoU is a commitment to supporting technology businesses, especially SMEs, expand across borders. This means better access to markets, clearer insights into regulatory environments, and stronger connections to potential partners and investors. The partnership will focus on emerging and critical technology areas including artificial intelligence, cybersecurity, digital identity, fintech. These are sectors where both the UK and Australia have established industry strengths and where closer collaboration can unlock new commercial opportunities to bolster long-term digital resilience. Australia’s Trade and Investment Commissioner to the United Kingdom and Ireland, Annika Barton noted “we […]

Your Life Is Manufactured: How We Make Things, Why It Matters and How We Can Do It Better

By Tim Minshall We live in a manufactured world. Unless you are floating naked through space, you are right now in direct contact with multiple manufactured products. How often do we stop to think: where do the things we buy actually come from? There exists a nearly invisible, awe-inspiring global system of manufacturing that enables virtually every aspect of our existence. The things we surround ourselves with take surprising and often byzantine journeys to reach us – be it the thousands of litres of water needed to make a single pair of jeans or the components of our smartphones travelling over six times around the world to reach us. From mega-factory floors, engineering laboratories and seaports to distribution hubs, supermarkets and our own homes, Tim Minshall traces these journeys to reveal the hidden world of manufacturing. Charting how this world came to be, Your Life is Manufactured reveals the seismic impact manufacturing has had on our lives and the natural world, exploring how it could offer us a path to a truly sustainable, more equitable future. In doing so, Minshall grants us the ability to make better choices for ourselves, our communities and the planet.

R.PACK Software Suite: The next step in efficiency and control

RECIF Technologies has launched R.PACK, the next-generation software suite designed for RECIF sorters. With an emphasis on usability, efficiency, and innovation, R.PACK introduces a suite of advanced features aimed at simplifying the management of wafer sorting equipment. Built for Speed, Designed for Precision R.PACK enhances operational efficiency for users of RECIF’s COMPACT and SMART sorters, featuring advanced capabilities and a modern interface designed to streamline wafer sorting processes Key features: Refined User Interface: The design of R.PACK makes it easier than ever to create recipes and monitor jobs, ensuring smoother operations and increased productivity. Seamless Transition: Current users will experience minimal disruption when transitioning to R.PACK, thanks to its intuitive interface that simplifies adoption. Ongoing Software Enhancements: R.PACK is built on a forward-compatible framework, with updates released annually to deliver new features and performance improvements. The first major update was rolled out in January 2025, with the next release scheduled for Q1 2026 — part of an ongoing roadmap to enhance user experience and expand system capabilities. Commitment to Innovation and User Experience The release of R.PACK reinforces RECIF Technologies’ ongoing commitment to providing high-performance solutions for the semiconductor industry. By focusing on a more intuitive and efficient wafer sorting process, R.PACK marks the first in a series of improvements designed to elevate both the user experience and operational efficiency. “We believe R.PACK will significantly enhance our customers’ workflows and performance,” said Thomas Brillouet, the R&D Manager at RECIF Technologies. “By providing enhanced features and a modernised interface, we empower our customers with tools that maximize safety, enhance efficiency, and optimize equipment performance with minimal effort.” Availability and Future Updates The first major update for R.PACK is available now, with additional updates scheduled annually every Q1. R.PACK is compatible with RECIF sorters (COMPACT & SMART) and will fully replace the […]

Rugged devices drive innovation in harsh industrial environments

Manufacturing environments expose both equipment and processes to constant stress. Heat, vibration, airborne particulates, moisture, and noise all affect how people work and how well operations run. Even in these tough conditions, manufacturers push to improve speed, accuracy and system responsiveness. Rugged devices support these efforts by reducing delays, improving visibility and connecting decision-making directly to the point of action, according to Getac. Frank Baldrighi, business development manager – Australia and New Zealand, Getac, said, “Work no longer depends on desktop access or end-of-shift reporting to progress. Rugged devices provide mobile, durable access to the tools and data that workers require in real time. Teams can track workflow progress, review equipment histories, update maintenance logs, and verify task details onsite, all without leaving the immediate work area. This removes unnecessary downtime, compresses feedback cycles, and improves responsiveness across teams.” Access to live data at the point of use eliminates ambiguity so workers can verify specifications, update quality data, and escalate emerging issues without interrupting production. Many of these tasks would have involved manual paperwork or communication through supervisory layers in traditional environments. However, rugged devices reduce those handovers and bring execution and oversight closer together, letting operators make better, faster decisions based on current conditions and clear instructions. Training also improves when workers interact with real systems while guided by context-specific instructions. Augmented and mixed reality applications help new employees follow correct procedures while completing actual tasks. This approach accelerates learning and reduces reliance on legacy knowledge held by a small group of experienced staff. Sustainability efforts similarly benefit from this shift in visibility. Workers can identify avoidable waste, inefficiencies, and asset fatigue during the task, not after production has ended. Energy usage, cycle timing, material flow, and process deviations become measurable and actionable in real time. Maintenance teams can […]

Trillions to be unlocked in sustainable investment opportunities in Asia

Asia’s robust economic fundamentals present significant opportunities for scaling financing into sustainable development projects, even amid geopolitical headwinds and trade tensions, said policy and business leaders at the inaugural Hong Kong edition of Unlocking capital for sustainability. Against the backdrop of increasing global polarisation and accelerating climate change, Asia is uniquely positioned to lead decarbonisation efforts and capitalise on the opportunities that the region’s green transition offers. Hong Kong, in particular, has emerged as a key gateway in the region for sustainable finance, authorising over 220 environmental, social and governance (ESG) funds last year, with assets under management (AUM) totaling HK$1.2 trillion, with opportunities for trillions more. In his keynote address, Christopher Hui Ching-yu, Secretary for Financial Services and the Treasury, Government of the Hong Kong Special Administrative Region, noted that Hong Kong’s “markets, regulatory frameworks and connectivity with global capital flows position us uniquely – not merely as a gateway, but as a catalyst for scaling green and transition finance across Asia and beyond.” Hong Kong is making significant strides, with green and sustainable debt issuances in 2024 exceeding US$84 billion. The city is also fostering cross-border trade and digital collaboration in carbon markets to connect capital with carbon projects worldwide, developing its FinTech ecosystem to finance underfunded and impactful green projects, and building the capacity of its workforce to meet the demand for green skills, highlighted Hui. Themed “Mobilising capital for the green transition”, the inaugural Hong Kong edition of the thought leadership forum, organised by Eco-Business in partnership with United Nations Environmental Programme Finance Initiative (UNEP FI), took place during Hong Kong’s Wealth and Investment Mega Week. Hosted at Renaissance Hong Kong Harbour View Hotel, the forum gathered more than 120 decision-makers across government, finance and industry to identify the solutions needed to mobilise finance for Asia’s […]

Trump’s tariff: A test to Malaysia’s trade resilience

Dr Paul Anthony Maria Das is a Senior Lecturer for the School of Accounting and Finance at Taylor’s Business School, Faculty of Business and Law, Taylor’s University. Taylor’s Business School is the leading private business school in Southeast Asia for Business and Management Studies based on the 2025 QS World University Rankings by Subject and has received the Association to Advance Collegiate Schools of Business (AACSB) accreditation. President Donald Trump’s sweeping decision to impose a 24% blanket tariff on Malaysian imports is more than just a protectionist measure. It is a direct challenge on Malaysia’s export-driven economy and a stark reminder of the fragility of international trade relations in the 21st century. The U.S. remains Malaysia’s second-largest export destination, accounting for 13.2% of total exports in 2024.[1] President Trump’s justification for the tariffs is rooted in claims that Malaysia imposes an average of 47% tariffs on U.S. imports, a figure widely disputed by local authorities. Malaysia’s actual average applied tariff is closer to 5.6%, in line with global trade commitments under the World Trade Organization (WTO).[2] This apparent misrepresentation underscores the dangers of populist trade policies that prioritise political gain over factual accuracy and fair competition. The sectors most vulnerable to these tariffs include Electrical & Electronics (E&E), which comprises over half of Malaysia’s exports to the U.S., as well as rubber products, machinery, and furniture. While certain high-tech exports like semiconductors may initially escape these tariffs, other areas of the E&E sector, such as components, finished goods, and consumer electronics, are poised to face significant pressure. If these tariffs remain in place, they could directly threaten Malaysia’s manufacturing hubs in states like Penang, Selangor, and Johor, leading to reduced demand and squeezed profit margins for local businesses. Beyond that, the disruption to the rubber and medical glove industry, which […]

Smarter growth, lower risk: Rethinking how new factories are built

A tailored, thoughtful combination of cutting-edge technologies, stronger contracting skills, and deep supply chain capabilities can get a new factory up and running—without costly delays. Today’s environment is giving manufacturers even more reasons to reassess their footprint strategies. For some, localisation of production may now seem increasingly attractive—particularly amid rising volatility in tariff and trade policy, evolving incentives for manufacturers Manufacturers know that building new factories—and doing so quickly—can be incredibly complex. It is possible for the chief manufacturing officer to have never overseen the expansion of an existing factory—let alone the development of an entirely new “greenfield” site. The construction industry’s capacity for new factory construction is also constrained, especially by the demand for skilled workers. The sheer scale of the capacity gap is daunting even before confronting the very real risks that major projects face, from spiralling labour costs to vulnerable supply chains. There’s no single technology or template that manufacturers can deploy in response. Instead, to close the gap, manufacturing leaders need an integrated approach to factory building, one that encompasses thoughtful factory design, a reassessment of the supply chain, and effective construction management. A blueprint for revamping factory floor design The first step is undertaking a meticulous factory design process that seeks to ensure consistent flow of production, with adequate redundancy in capital assets Heightened competition for capital under current market conditions means it’s more critical than ever for manufacturers to deliver major capital projects on time and on budget. Higher labour costs in a new location require a company to rethink the entire value chain for the new plant—and with it, core production processes. Executives need to recognise that a greenfield development offers a unique chance to invest in Industry 4.0 technologies, maximising ROI and minimising production disruption Industry 4.0 user cases can show high potential for […]

1 2 3 4

News Ticker

The Creative Class