A state-of-the-art facility that will help regional companies compete more effectively in both national and global markets is to receive funding from Yorkshire Forward.
The University of Hull Logistics Institute aims to provide companies with the skills and support necessary to allow them to operate effectively in an increasingly competitive market. Increased competition from abroad, especially in the manufacturing sector, means that companies are operating on a knife edge and effective supply chain and logistics management can mean the difference between success and failure.
Over the last five years supply chain management and logistics has gone far beyond the simple remit of ensuring materials and products arrive at the right place at the right time. It is now a finely tuned business science the elements of which can help companies make a significant difference to their bottom line.
The Institute, based at the University of Hull, brings together expertise from across the university, for example from the business school and the department of engineering. It will provide a range of services for companies of all sizes. From tailored research and consultancy provision, through managed work space for start up companies, to a specialist MSc in Logistics and Supply Chain Management which will ensure companies have access to the skills and resources they need to remain competitive. The institute will also provide a resource centre and e-platforms, allowing members access to information, newsletters, guidance and support, publications, journals and reports.
The Institutes location in Hull is particularly fitting, putting it at the heart of Europes largest port network with unrivalled congestion-free access to global markets. Yorkshire Forward will provide 3.67 million towards the physical development of the Institute, including the refurbishment of existing buildings at the campus and the provision of equipment. This funding will come in addition to monies secured from the Objective 2 European Regional Development Fund (5.27 million) the University of Hull (9.94 million) and private sector contributions.
Simon Hill, Executive Director of Business at Yorkshire Forward said;
Having come from a manufacturing background I know how important effective supply chain management is to a companys success. This institute will not only ensure companies of all sizes are able to operate effectively in spite of increased overseas competition and transport costs, it will also place Hull and the Humber sub-region on the map as a centre of excellence for this kind of work.
Professor David Drewry, Vice-Chancellor said;
"The University is delighted that funding has been secured for The Logistics Institute through the support given by Yorkshire Forward. The Institute will develop a distinctive academic profile for the University, in line with its corporate strategy and contribute significantly to underpinning the regional economic aspirations of the City, Yorkshire and the north of England."
Alison Biddulph , Director of the European Secretariat at the Government Office for Yorkshire and the Humber comments;
With its ports complex and coastal location, Hull plays a vital role in European trade networks. The Logistics Institute will combine the opportunities offered by this location with the outstanding academic expertise on offer at the University of Hull. This will provide a fantastic facility for companies wanting to succeed in a competitive market; a vital need that I am delighted European funding is helping to address in our region.