Manufacturers should avoid 'quick fixes'
Tue 5 Aug 2008 at 4:50 PM
Manufacturers looking for solutions to current economic issues should avoid any quick fixes, the Manufacturing Institute has advised.
It said its members should use the current tough times to assess how they can better perform in the long term.
Peter Rogers, practitioner team manager, has recommended they "look strategically at opportunities to focus on in sustainable activities that lead to stability and growth".
He considers it dangerous practice to talk down the industry, which he considers "the lifeblood of a forward thinking, successful UK economy".
The CBI/Experian regional trends survey has shown business confidence fell in every UK region.
The volume of new orders nationally was largely unchanged of late, although seven regions, including the West Midlands and the North East experienced marked falls in export orders.
"The climb in oil and other raw material prices over recent months has driven costs up significantly," observed Lai Wah Co, head of economic analysis.
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