Made in Britain: UK Manufacturers Plan for Future Growth

This year's Annual Manufacturing Report 2019 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.

Indeed, according to The Manufacturer: Annual Manufacturing Report 2019 (AMR 2019), an impressive 71 percent of UK manufacturers say they're actively in pursuit of new overseas export opportunities.

Launched recently at the House of Lords, the AMR 2019 report is already generating deliberation on the state of manufacturing in the UK-and the mindset of manufacturers.

As proud sponsors of AMR 2019, we were delighted to join the debate on the pressing need for UK manufacturers to accelerate the adoption of Industry 4.0 technologies and stay competitive.

Here are just some of the key findings from this year's report.

Positive growth outlook

As manufacturers look ahead at the challenges of Brexit and other trade tensions loom large, UK manufacturers are adopting new methodologies and technologies to unlock agility, lower operational costs, and identify new opportunities for growth.

In recent years, UK manufacturers have become adept at protecting revenues in the face of yo-yo exchange rates and managing increasingly complex supply chains. As they prepare for the impact of leaving the EU, confidence is high about future growth opportunities.

  • 66 percent say they're confident in their ability to grow their business-with a further 13 percent saying they are 'super' confident
  • 77 percent say they have a growth path 'baked' into their existing processes
  • 76 percent confirmed they are aiming for growth, not quick profits

However, almost one-fifth (21%) say they're struggling to identify where growth could come from.

And it's these organisations that should be leveraging the analytics and insights generated by today's modern ERP solutions to explore new segments and drive up performance.

Export confidence is high

Despite the prospect of Brexit casting a shadow over UK businesses, the manufacturing sector appears confidently resilient where exports are concerned.

  • 67 percent say they regard conditions for export sales as being good
  • 71 percent are actively seeking out new overseas markets

With the majority of manufacturers planning to expand their exports abroad to non-EU countries, the pressure will be on to up productivity and ensure products remain competitively priced. Which means manufacturers will need to initiate 'connected factories' that gather data, self-monitor and report performance, so that measurable production efficiencies can be achieved.

Profound digital transformation

With greater visibility and more control over resources, UK manufacturers are approaching an unpredictable future with impressive self-assurance.

Perhaps that's because this year's AMR 2019 report highlights how the UK manufacturing sector is in the midst of a profound digital transformation that is giving them the agility to navigate unchartered commercial waters.

Alongside positiong their businesses for growth, manufacturers are adopting new methodologies and technologies that enable real-time reporting, analytics, automation and the Internet of Things, so that they can work smarter and more efficiently, now and into the future.

If you would like to obtain a copy of the report, please Email quoting AMR 2019.

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Mark Hughes, regional vice president, UK & Ireland, Epicor Software