What does the Northern Powerhouse mean for your business?
Although this is an amazing opportunity for industry in the region, there are several areas that need to be considered in order for your business to fully capitalise on the Northern Powerhouse initiative.
- Going beyond manufacturing
The manufacturing industry is fast becoming as much about R&D, customer service and IT as it is about making things – triggering a need to adopt IT and technology systems in order to take advantage of the opportunities for automation, analysis, productivity improvement and customer relations.
- Working smarter
There needs to be a mind shift about how operations and service management are conducted. In order to be sustainable in the long term, you now need to invest in your ability to work smarter and collaborate better.
- New business models
Many manufacturers are concerned about moving from production-intensive business models to re-manufacturing and repair in order to create a sustainable business.
- International competition
As Britain aspires to excel as a high-tech knowledge economy, British businesses require investment in the building blocks that enable them to compete on a national and global scale.