New Fund Launched To Revolutionise Manufacturing Supply Chains

Businesses will soon be able to apply for funding for projects up to £1.5 million to transform manufacturing supply chains, with the aim in mind of building a more flexible, efficient and resilient sector.

9, a:1:{i:0;s:8:”defaults”;}, conveyor belt tracking, Businesses will soon be able to apply for funding for projects up to £1.5 million to transform manufacturing supply chains, with the aim in mind of building a more flexible, efficient and resilient sector., Businesses will soon be able to apply for funding for projects up to £1.5 million to transform manufacturing supply chains, with the aim in mind of building a more flexible, efficient and resilient sector.

UK Research and Innovation and Made Smarter have launched two funding competitions for innovative firms around the UK to come together and develop world-leading digital technologies to boost productivity across the supply chain and drive resilience to turbocharge the coronavirus recovery.

The fragility of the supply chain has been highlighted by the current crisis, as well as how important it is to maintain visibility and resilience now and into the future.

But if the right technology was prioritised, artificial intelligence and other creative solutions could be used to help boost the power of the supply chain by being able to predict spikes in demand, shortages and direct supplies into the chain.

Co-chair of Made Smarter Juergen Maier said that improving supply chain operations will give companies a boost as they work to emerge from the crisis. This new wave of funding will make sure that the best minds out there can come together to collaborate and develop world-class supply chain technologies.

“Post-covid, more use of digital technologies can have a turbo-charge effect on kick-starting the economy as a whole. Creating resilient and efficient supply chains is a key component of that, where better data analytics, modelling and connectivity can help drill down into supply chains and improve efficiencies very significantly,” he went on to say.

The competitions opened on July 6th, with the deadline set for midday on October 7th. Companies of any size can apply and consortia must make sure there is at least one small to medium-sized enterprise is included.

At the start of July, the IHS Markit/CIPS UK Manufacturing PMI revealed that the manufacturing sector showed signs of stabilising in June, following the downturn that was seen as a result of the pandemic.

As lockdown restrictions were eased, factories restarted and staff members went back to work, output moved back into growth territory, with the seasonally adjusted index climbing to 50.1 in June, up from the 40.7 seen in May.

The intermediate goods sector registered the biggest growth, with consumer goods producers seeing a mild expansion. Investment goods output, meanwhile, fell once more, although at a greatly reduced pace.

Business sentiment climbed to a 21-month high last month, with more than 63 per cent of manufacturers predicting that output would climb over the next 12 months. This was linked to companies reopening, an expected loosening of lockdown restrictions that the hope that markets, both at home and internationally, would revive enough to help drive growth and recovery.

Looking for conveyor belt tracking? Browse our website today., field_544dcaa8220f0, , field_543e9601d7f94, 31

More News

Hoverdale Vulcanising Services

What is Conveyor Belt Vulcanising?

The Essential Role of Vulcanising in Conveyor Belt Durability and Maintenance. Vulcanising is a pivotal process in the manufacturing and