Helping Midlands Manufacturers Prepare for the 2020s
12 Jun 2018
Published in: Member News
A major Midlands manufacturing conference will highlight the challenges facing the industry in funding and how to make the most of â€˜Industry 4.0'.
The event is being held at the Manufacturing Technology Centre at Ansty Park, Coventry, on Tuesday 10 July.
The conference organiser Crowe UK, the national audit, tax, advisory and risk firm, has assembled a distinguished panel of experts who will address delegates.
Rachel Eade MBE, formerly Head of the Manufacturing Advisory Service, will discuss the challenges and opportunities facing manufacturing companies.
How to raise funds in the financial markets to fund retooling for Industry 4.0 meanwhile, will be covered by Johnathan Dudley, Head of Manufacturing at Crowe.
Richard Hill will outline NatWest's Future Fit Programme and Mark Miles of Render Media will deliver a presentation on virtual reality (VR) and augmented reality (AR) in manufacturing.
Johnathan Dudley said: "This conference pulls together all the threads which will help manufacturers prepare for the 2020s. In particular we will look at the onset of Industry 4.0 and the continual need to invest in new technologies and techniques, some of which could have short lives due to innovation driving obsolescence.
â€˜'Manufacturers need to be aware of both what new technologies are achieving right now and what they could achieve in the future, as well as planning and acting on market changes.
"Of paramount importance will be the need to ensure businesses are well advised on the right funding methods to ensure successful investment programmes.
"Growth into new product lines, markets and territories will require continual management of working capital and its funding. How much businesses need, where and how it can be obtained and how it is secured all need to be considered."
Johnathan Dudley pointed out that with automation and centralisation of banking services, especially for small and medium-sized enterprises (SMEs), access to finance professionals who know and understand the business and sector will be even more difficult to achieve or maintain in the future.
"Funding applications will need to be increasingly comprehensive and will need to anticipate lenders' requirements to be successful.
"In addition, there is a variety of government-aided funding and grant schemes which may or may not benefit businesses, based on sector, product, customer, markets or, often unfortunately, based on postcodes."
He added that even those with an existing funding stream in place could benefit from a finance health check to review the facilities and whether they are still adequate, appropriate and cost-effective.
"A Crowe funding health check has saved many businesses thousands of pounds and we know that many more could benefit."
The conference also includes the opportunity to tour the Manufacturing Technology Centre. Manufacturers who would like to attend should contact email@example.com.
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