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Manufacturers ''driving out costs'' to ensure survival

11 August 2010
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Manufacturers ''driving out costs'' to ensure survivalThe UK''s manufacturing companies will be intent on "driving out costs" over the next year to ensure they remain competitive and guarantee their survival, one specialist has declared.

"Everyone is trying to examine the cost base as much as possible," Steve Knight stated, adding that the industry is likely to see continuing consolidation, something operations management professionals may be involved with.

The business manager for consultancy Newton explained that certain firms, including commodity producers, businesses providing items to the government and a number of food and drink companies, are under particular strain in the current climate.

Mr Knight suggested that investment will improve in the market during the coming months, but this will tend to go towards green manufacturing and emerging technologies rather than "traditional factories".

His comments follow projections from EEF - The Manufacturing Institute, which forecast growth in the production industry of 3.8 per cent this year and 3.4 per cent in 2011, significantly ahead of anticipated UK economic expansion rates of 1.1 per cent and 2.1 per cent.ADNFCR-3058-ID-800021605-ADNFCR
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