The Management Consultancies Association (MCA) has published a report on the future of the manufacturing industry 'The New Norm: Manufacturing'. The report quotes PA manufacturing expert Tim Lawrence and is featured in an article on The Engineer Online. The article discusses the findings of the report and its predictions for the future of the manufacturing industry.
The report found that more than three quarters of British consultants expect the sector to shrink further and warned that the industry would be unable to generate enough jobs to offset those which are expected to be lost before the end of the year.
The article goes on to discuss the challenges of adapting to a new business landscape following the recession. Two thirds of those surveyed believe demand will be harder to predict in the future, and the majority agreed that collaboration between manufacturers and retailers will be significant.
In the article Alan Learman, chief executive of the MCA, talks about the "new norm" for business and how this will be fundamentally different to what has come before.
Tim Lawrence's comments from the report on the future of the industry are featured in the article: “Most manufacturing in the UK is relatively lean, and the weak pound is helping exports. The real challenge is to ensure that the supply chain does not limit the UK’s competitiveness.”
The article goes on to discuss a Manufacturing Taskforce which has been launched by Yorkshire Forward, a regional development agency, to help businesses make the most of the upturn.