Manufacturers determined to innovate
MORE than 90% of manufacturers in the North West are engaged in innovation, according a survey published by EEF and Vodafone UK.
The findings by manufacturers’ organisation EEF and Vodafone suggest the region’s companies are keeping pace with peers in the UK but share the same fears about falling behind competitors.
The EEF/Vodafone 2015 Innovation Monitor shows that the main focus for manufacturers is on improving their products (77%) and their manufacturing processes (76%). However, more than half (53%) have innovated around improving their organisational methods and systems.
Half (50%) have innovated to improve their service, matched by those who have revitalised their marketing or distribution methods (50%).
The biggest driver for manufacturing innovation is the desire to satisfy existing clients (60%). However, more than five in 10 (51%) have innovated in the last three years to comply with environmental standards and regulations – higher than anywhere else in the UK.
Export success is also clearly top of mind – four in 10 North West (40%) say that developing existing export markets is a key innovation driver, while 37% say that seeking new export markets has been the impetus behind recent innovations.
EEF North West region manager Stephen Fitzsimons said: “Manufacturers continue to forge ahead into new markets at home and abroad, with investment in innovation playing a starring role.
“However, innovation is a resource-hungry process and manufacturers are finding that the results they achieve do not always match their ambition. Shortages of expertise, equipment and finance are holding them back.
“This matters for manufacturing and for the UK because manufacturers are increasingly concerned about falling behind competitors.
“We’ve seen year after year that manufacturers want to do more and every additional pound invested in developing the products and services of tomorrow can help get the UK closer to its goal of having a more productive economy. This ambition should be matched by Government to ensure the UK continues to compete on the global stage.”
