The latest ANZ Stateometer Report released shows Victoria’s economic activity is growing due to strong public and private investment and a booming jobs market, with more than 320,000 new jobs since the Andrews Labor Government was elected. The report found that construction work completed in Victoria is up 6.5 per cent in the March quarter (according to the Australian Bureau of Statistics) compared with the national average of just 0.2 per cent.
In the year to March 2018, construction work completed in Victoria increased 11.2 per cent – more than double the national average of 5 per cent – driven by engineering (40.7 per cent) and non-residential building (4.5 per cent). The report states that “Victoria’s economic success over recent years has been multi-faceted”, with three years of strong economic performance which began in early 2015 after the Labor Government came to office.
Based on the past seven years when speaking to steel businesses serving the Building and Construction sector in Australia, we can share the three key factors that can make or break these businesses:
- Raw material supply optimisation to minimise re-work
- Access to high quality branded steel products and the ability to leverage awareness for promotion of end products; and
- Time in waiting improvements to reduce bottlenecks.
The Steel Efficiency Review® has identified savings for these customers in two key operational areas:
- Transportation – with key findings ranging from freight support to improvements in scheduled freight;
- Processing – with key findings ranging from additional processing work involving third parties to additional processing work conducted by our operations,
We have uncovered there is a strong need for Quality semi-finished products that have passed through rigorous checks for accuracy, tolerance and grade. Read more about our SER® findings and some key statistics regarding businesses serving the Building and Construction sector in Australia here.
For more information contact your local SER® representative. If you haven’t registered for an SER® click this link: http://steelefficiencyreview.com.au/register-now/