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Editor’s choice


manufacturing resilience BIG


The


with some of the best performing European nations and providing greater protection to the businesses and individuals that rely upon it, according to the Resilience Index commissioned by RS Components (RS). The business commissioned an in-depth study


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which mined 20 years of data from six sources of data across investment, productivity, and employment to track the resilience of some of the UK’s most prominent industries. The Resilience Index reveals that, even


though UK manufacturing’s resilience is higher than the UK average base, it needs to add 18 additional points, where one point of the Index is worth £1.4bn, to its score if it is to match some of the best performing nations for productivity and add £26bn to the economy. The research shows that, when taking a broader look at the data and tracking industries such as manufacturing, construction, and financial services since 2001, the UK is consistently behind the western European average.


WeaKneSSeS In manUfaCtURIng RS Components’ Resilience Index shows that while many key areas of UK manufacturing are showing vital signs in key measures of business resilience, others are more fragile. Food production, metals and the textiles


sectors are not only below the manufacturing average but below the UK average too. While they were making small gains in the early 2000s,


10


ransforming manufacturing resilience in the UK could add £26bn of productivity value to the economy, bringing it in line


benefits of building


RS Components has launched the Resilience Index, one of the most comprehensive studies of UK resilience that paints a mixed picture for senior engineers looking to build resilience into their plant, process, and people.


after the financial crash of 2008 these reversed and have never recovered. The chemicals industry is among the most


resilient of the manufacturing categories. After suffering a dip, post-financial crisis levels have continued to improve at a speed greater than the manufacturing average – and in line with their consistently higher than average rates of investment. The oil and gas manufacturing industry also


shows high levels of resilience, although this fluctuates wildly depending on the volatile price of oil and level of production. However, even


when oil prices and production have been at their most extreme, resilience has still been at least 42 per cent higher than the rest of the manufacturing sector. The engineering and vehicles industry has


remained fairly resilient. At the financial crash, its level of resilience faltered much less than the rest of the sector and UK economy. Not long after it rose again, supported by continued investment. Emma Botfield, UK & Ireland managing


director, RS Components, says: “In the face of multiple economic, social and political challenges, this study shows what many senior engineers


March 2021 Instrumentation Monthly


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