Crowe’s ‘Outlook for Manufacturing Businesses in 2020’ could reflect best practice of companies like Russell Finex
On February 5th Crowe’s release their 'Outlook for Manufacturing Businesses in 2020' at an event in West Bromwich. The event will consist of Crowe’s unveiling their findings on the future for British manufacturing and what the prospects look like for UK businesses.
Many within the sector will be looking on to see what those findings are. In the meantime, The Parliamentary Review spoke with Ray Singh, managing director of Russell Finex. Established in 1934, Russell Finex is a global leader in the manufacture of high-quality sieving and filtration solutions. From its manufacturing hub in southwest London, Russell Finex has enjoyed 80 years of steady growth and, by remaining focused and close to its core values, has become an international leader in the market with over 250 employees. Talking about their own experience and developments as a leading manufacturer, Singh said:
“One of our greatest challenges remains to increase manufacturing capacity and resources in keeping with the increased business growth. We have streamlined and expanded our UK facility with the implementation of lean manufacturing programmes and investment in new equipment and techniques such as the latest robotics, machining centres and water jet cutters. This investment has not only improved productivity and the repeatability of product manufacture, but has also established a great foundation, future-proofing the business for further growth. Alongside this, an increase in resources has played a key role in the ability to meet a growing demand. We have further improvements planned for the future to secure the company in the long term and ensure its global ambitions are achieved.
“We have faced a secondary challenge in our move from being an SME with its dominant market in the UK to a medium-sized international company, now with 80 per cent of our products either being exported directly to customers or moving through overseas subsidiaries. This transition has not only resulted in the need for improved communication across the business, but we have had to adapt as there has been a need for the business culture to shift slightly as the company has grown.”
Reflecting on these points, Singh highlights what he feels needs to be done for UK manufacturing to thrive long-term:
“For UK manufacturing to survive in the future, more businesses need to step out into the unknown to lead the charge for the sector. As long as they are able to maintain a strong foundation and a clear vision, then many other companies could be rewarded with the same returns that we have seen.”
We look forward to reading Crowe’s findings in full once they are released on February 5th.