Furthermore, including the services around manufacturing the Added Value is literally doubled. The British strength of expertise in services can offer much to manufacturers, for example, about their customers, the end users, or about what happens at the end of a product’s life.
A greater emphasis on the service that is delivered by manufactured products can bring innovative ideas to change the decision process or can deliver enhanced sustainability and brand value, and indeed new sources of revenues.
At a recent conference in Cambridge they announce that
the value that manufacturers can readily see is a mere fraction of the opportunities which exist beyond the obvious.
This means that we have only tapped the tip of the iceberg of services.
Talking about services around manufacturing we have to mention also the term Circular Economy, which is leading to: reduced costs and risks, additional revenues, enhanced sustainability, enhanced CSR. Circular economy is the future of manufacturing.
Innovate UK strongly support circular economy
By helping businesses access Innovate UK funding in this space, and through programmes such as REBus, businesses, big and small, and across a surprising variety of sectors, are thinking about their business in a different way – bringing innovation into: the product development, supply chain, business model.
Benefits for the customer include enhanced tailoring of product to the individual customer: the market of one.
KTN and Innovate UK have recognised the significance of ideas as Industry 4.0, IoT and the related technologies and many initiatives over recent years have explicitly picked on them.