British manufacturing: overcoming the fear of change

One of the big aims of Northern Crucible is to help prepare manufacturers for the pace of change that is about to happen. Northern Crucible is a manufacturing forum, based in the Northern region of the UK and is geared towards Manufacturing & Engineering leadership. We promote collaborative work, innovation, continuous improvement and growth.

We meet on a frequent basis to share ideas, network and visit interesting relevant sites. Our aim is provide a fertile ground for sharing best practice, encouraging ideas, regional growth and job creation. In our discussions, we encompass input from the whole range of contributors, such as production, research, academia, investors, industry experts and government.

To kick off 2020, we have to look at the biggest problem of all. The fear of change in manufacturing has been a a big weight holding the UK back for decades. We are at this point in the UK, where manufacturers either evolve or face extinction in the next decade.The changes will be immense for lots of reasons. There has been a lot of hype about what will happen in the UK and the impact of Brexit. I don't see it as doom and gloom - we will struggle but we will change for the better. I think the UK is ripe for investment and growth, and it is set to be the fastest growing economy in Western Europe after a stuttering start and contrary to popular thought.  

The following list shows types of problems manufactures could face in the coming decade.

Cash flow - no business can survive in the long run without generating positive cash flow

Over-reliance on a narrow customer base - traditional Tier 1 and Tier 2 suppliers rely heavily on the success of one company

Skills gap - nearly one-quarter of the sector's workforce are aged 55 or older

Competition - the British economy is becoming more concentrated and less competitive

Lack of investment - with a hangover from the crash of 2008, manufacturers are reluctant to seek bank funding for investment

Downturn in demand - customers look at alternative products

Unstable supply - there are myriad of reasons, for example Brexit

Unstable economy - this is where we enter recessions. It can be for any reason 

Crime - cyber attacks can gripple a company

Laws - climate change laws will start to have more of an impact on manufacturing

Embargos - countries have used this as a political weapon

War - may affect oil prices

These are just a small number of things that can affect business in a negative way. The list just goes on. Only the healthiest British companies will survive and evolve in new ways. Their workforce will become highly skilled and very flexible.

Northern Crucible will do its part. During 2020, we will help via masterclasses from some of the most talented people in the industry. Through series of events we will look at topics such as investment, skills and skills gap, international trade, how to outperform the competition plus much more. Irrespective of market conditions, there are always opportunities for growth. By investing in talent, technology and developing new business models, companies can adapt, innovate and keep moving forward. Please remember, our events are free to attend. 

Our next event

We talk law: data, Industry 4.0 and the future of manufacturing

Date/Time

Date - 14/01/2020

6:20 pm - 9:30 pm

Location

Irwin Mitchell Solicitors, Riverside East, 2 Millsands, Sheffield, S3 8DT

https://northerncrucible.co.uk/