NEWS
PREPARING FOR BREXIT
SSG INSIGHT
UK MANUFACTURING PREPARING FOR NO-DEAL BREXIT
cost of production and speeding up
product development on the route to new
markets. As such, more than half (59%)
of UK manufacturers are intending to
invest in smart, connected technology to
drive forward international growth. This
compares to 20% planning to invest in
machinery and hardware, 18% investing
in research and development and 17%
investing in sales and marketing.
Asia and the Americas among targets for
UK manufacturers post Brexit
Race to innovate Britain’s factory floors in
bid to retain competitive advantage on
global scale
A new report from Sheffield Hallam
University and SSG Insight has found that
83% of British manufacturers are preparing
for a hard B rexit and actively forging new
relationships with “Rest of the World”
territories.
Nearly half of manufacturing companies
have identified Asia (44%), as well as the
Americas, Africa and the Middle East as
focus areas for the future. The proactive,
global outlook is helping to cement
what could be viewed as a bullish mood
among British manufacturers about their
prospects post Brexit, despite an expected
dramatic drop in orders from EU-based
countries.
This latest industry snapshot draws on
extensive research amongst the UK’s
leading manufacturing executives. The
report, Harnessing Brexit, Technology
and Insight: British Manufacturers, a
Competitive Edge in an Age of Uncertainty
and Opportunity, is co-authored by Dr
Hongwei Zhang and Professor Sameh
Saad from Sheffield Hallam University and
Jon Moody of SSG Insight. It discusses the
optimism and concern around two of the
most critical challenges facing modern
Britain: Brexit and the relentless rise of
technology, particularly in the form of
Industry 4.0.
The report reveals that manufacturers are
more than twice as likely to point to global
competition than Brexit when asked what
they consider to be the biggest challenge
disrupting the industry, closely followed
by the Internet of Things and capability to
handle data from connected technologies.
With a requirement to scale up volume
easily to meet demand from Rest of
World territories, Brexit and the shift
of focus beyond the EU is expected to
accelerate the use of AI and automation
on UK factory floors, driving down the
Dr Zhang, Principal Lecturer at Sheffield
Hallam University, said: “With numerous
Brexit scenarios on the horizon and hard
Brexit a very real threat, our research has
found that Britain’s manufacturing sector is
showing determination to remain resilient
through this tumultuous period.”
Key recommendations of the report
include:
- Manufacturers should plan for the most
disruptive Brexit outcome to mitigate
the immediate structural changes
triggered by the UK leaving the EU
- Technology should be harnessed to
ensure that British manufacturers
compete and thrive with their new
trading partners
- Strategies for the continuous upskilling
of employees should be developed to
ensure British manufacturers keep pace
with technological innovation
About SSG Insight
SSG Insight has earned an
impressive reputation for delivering
world-class data analysis, helping
British manufacturers compete
globally by effectively managing
their assets to drive better business
performance. Jon Moody, Chief
Product Officer, said: “It’s clear
from our research that British
manufacturers are resolute as the
UK enters a new era. Although
there are concerns over tariff rates
and regulatory barriers, many are
actively forging relationships with
new territories throughout the
world. A confidence is very much
emerging from the uncertainty.”
For more information visit
www.ssginsight.com
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PECM Issue 34