UK Aerospace supply chain companies have used productivity improvements to secure contracts worth just over £900 million. The productivity payback is from the government backed Sharing in Growth (SiG) initiative which allows supply chain companies to benefit from £1.2 million worth of professional business transformation support.
By becoming globally more competitive, the companies secure new contracts and jobs in the industry. With support from the government’s Regional Growth Fund and private investment, the SiG experts are helping 40 companies, the first 22 of which have to date secured more than £900 million worth of contracts.
Yorkshire-based family firm Produmax has secured contracts worth around £12 million and is preparing to grow by over 60% in five years. To win and deliver this growth profitably, SiG is initially supporting a rapid 20% productivity improvement through the creation of dedicated lean value streams, one of which is focussed on recent work won for a number of new commercial aircraft projects. The value streams are part of a move into a new £3 million facility that consolidates two older sites and is due to open later in 2015. SiG is also helping Produmax to improve capability and performance by reducing tooling spend by 30%, implementing visual management and developing a New Product Introduction process.
Jeremy Ridyard, managing director of Produmax Ltd commented: ”We specialise in innovative high precision engineering and have always believed that to stay ahead of the competition we need to invest, not only in the latest technology but in our approach to business and staff development. Sharing in Growth is a key part of our investment in the future and has already started to pay dividends.”
With a second tranche of Regional Growth Funding imminent, more companies are being offered the opportunity to benefit from the programme. Companies who meet the qualifying criteria, and have strong growth ambitions, are invited to a briefing on 29th September at RAF Cosford.
They will hear from companies already on the programme about the business benefits, discuss with SiG engineers and business gurus how the four year scheme works and why it is being endorsed by organisations such as Airbus, AgustaWestland, GE, Bombardier Aerospace, GKN, Rolls-Royce and aerospace, defence and security trade body ADS.
SiG’s cross-functional experts tackle areas such as lean operations, manufacturing engineering, procurement and cost and value engineering. To ensure a sustainable and fully integrated transformation programme they also work with delivery partners such as Deloitte, the National Physical Laboratory, The University of Cambridge’s Institute for Manufacturing and Industry Forum to provide world-class training in leadership, strategy, business planning and performance improvement.
SiG CEO Andy Page explained: “Sharing in Growth will help secure over 10,000 jobs in the UK and aims to attain £1 billion of annual contract value by making this country’s aerospace companies more productive, competitive and profitable. The 40 existing beneficiaries are committed to an average 50% increase in sales per person productivity gains.”
Companies wanting to find out more about the Sharing in Growth introductory event should visit: http://sig-uk.org/