Excellent speakers from large manufacturing companies, such as Duo, Tetrosyl, Crane and Polyflor were present on a panel for the Made in Manchester breakfast seminar, organised by NW Business Insider, on 29th Sept. The main challenges raised by panellists were:
- The difficulties of finding funds for new equipment. One panellist had to go to Italy for funding!
- The importance of marketing brands and protecting their integrity.
- The constant need for innovation and patenting new products to stay ahead.
- Accurately capturing the Voice Of the Customer.
- The challenges associated with attracting quality new people, particularly middle managers and apprentices.
- The drive to re-shore manufacturing and supply activities, as companies seek greater responsiveness, next day deliveries, low inventories and reduced cost of replenishment.
A Futurist focused on trends in the business world, citing the rapid changes that can occur in company fortunes; some suddenly accelerating as they find new opportunities or markets, while others suddenly collapse. Some companies seem like a supertanker; they are difficult to turn around, despite impending difficulties. Whereas companies would be looking to predict trends years ahead, the timescales are now much shorter, due to the speed at which markets change.