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Manufacturing firms urged to protect supply chains

26 August 2011
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Manufacturing firms urged to protect supply chainsBusinesses in the manufacturing sector need to step up their operations management to protect their supply chains from financial uncertainty, one accounting firm has warned.

According to PwC, global supply chains have been put at risk by recent events such as the economic downturn and Japanese earthquake.

A new report from the company, titled Achieving excellence in production and supply, concluded businesses should look to retain talented workers, improve partnerships with their suppliers and customers, address risks to their supply chain and maximise lifecycle opportunities.

Head of the global industrial manufacturing group at PwC Barry Misthal noted the manufacturing industry has endured a "rollercoaster ride".

"With the current volatility of geopolitical, economic and financial markets, businesses need to research their risk areas and mitigate where they can in areas such as lifecycles, demand planning and skill shortages," he remarked.

Optimism among manufacturers has declined over the last quarter, with research by KPMG and the Chartered Institute of Personnel and Development revealing it now stands at plus 11 points, down from plus 32 three months previously.ADNFCR-3058-ID-800711742-ADNFCR
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