This year’s Annual Manufacturing Report, launched today at the House of Lords, finds UK manufacturers optimistically preparing to ride out the Brexit rollercoaster and expand their overseas exports.
Despite uncertainties, the British manufacturing sector is positively preparing to capture new growth opportunities on the horizon. Mark Hughes, regional vice president, UK and Ireland, at Epicor, has offered his own thoughts on the sector’s outlook:
“There is nothing worse than uncertainty. We know Brexit and international trade wars will impact raw materials and export prices, but we don’t know how much by, or when. Despite uncertainties, the performance of the British manufacturing sector is on an upward trend. The ongoing digitisation of the sector has a key role to play in this growth as manufacturers are realising the potential of Industry 4.0. Automated systems are reaching production lines, and cloud adoption is set to rise—improving efficiencies and lowering operational costs.
“This is where investing in the right software to keep you agile enough to respond quickly and adapt to any market changes is critical. Brexit has the potential to bring significant opportunities to British manufacturing. In the UK, more than anywhere else in the world, manufacturing is about the people. We are synonymous with low-volume, high-quality, high-value products that come from brilliantly intelligent minds. Yet, it has still been more cost-effective to outsource various elements of the manufacturing process off-shore. Current and future technological advances mean that now more than ever before, on-shore is a truly viable option and “Made in Britain” will be key to helping Britain stay on top.”