Manufacturing firms bullish despite a tough outlook
0 Comments Published by innovasys on Thursday, 17 April 2008 at 15:43.
Manufacturing firms have adapted to the challenge of global competition and are starting to reap the dividends despite the financial crisis, according to the new report.
The Engineering Employers’ Federation (EEF) said fewer companies were reporting being affected by price competition in the markets in which they traded.
The challenge from low cost economies was firmly on the Radar of UK business organizations and they were responding by becoming more innovative.
EEF Chief Economist Steve Radley said “The survey paints a positive picture of of how manufacturing companies have adapted to the challenge of the global environment.” Instead of competing on price alone, they are adopting range of strategies to take advantage of emerging markets. While there are many other challenges on the horizon, manufacturers look well placed to rise to them.
Comment - It is clear to see that many companies are investing in 3D design such as SolidWorks to ensure innovative design helps retain that competitve edge.
The Engineering Employers’ Federation (EEF) said fewer companies were reporting being affected by price competition in the markets in which they traded.
The challenge from low cost economies was firmly on the Radar of UK business organizations and they were responding by becoming more innovative.
EEF Chief Economist Steve Radley said “The survey paints a positive picture of of how manufacturing companies have adapted to the challenge of the global environment.” Instead of competing on price alone, they are adopting range of strategies to take advantage of emerging markets. While there are many other challenges on the horizon, manufacturers look well placed to rise to them.
Comment - It is clear to see that many companies are investing in 3D design such as SolidWorks to ensure innovative design helps retain that competitve edge.
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