Roundtable: Managing Global Risks

By Made In Group
schedule27th Feb 23

The Made in Group is a private digital network for manufacturers and industry influencers to share experiences and insights. The platform hosts two industry associations, Made in the Midlands and Made in Yorkshire, where members can participate in discussion groups and share their knowledge with other manufacturers.
Attendees include:
Kirsty Davies-Chinnock, Professional Polishing; Steve Hemming, Fablink; Rob Lomax, Wakefield Acoustics; Simon Hanson, HCM Engineering; Chris Houston, Tad Weld; Phil Stanley, TWP Manufacturing; Ian Trennan, Hydraforce; Robert Price, Sims Metal; Jim Mangan, The Sepre Group; Dan Stephenson, Pryor Marking
This roundtable forcessed on managing global risks and followed a best practice talk from Rob Sims of Sims Metal who shared with us insights into movement and challenges in the scrap metal market.
Managing global risk is a significant challenge for British manufacturing, particularly for those who rely on scrap metal traders and other supply chain companies. The event organised by Made in Group, a membership group in the Midlands and Yorkshire, brought together key players from the manufacturing sector to discuss these challenges and explore strategies for overcoming them.

One of the major challenges facing British manufacturing is the volatility of the global market. The price of raw materials can fluctuate rapidly due to a range of factors, including changes in supply and demand, political instability, and economic conditions. This can make it difficult for manufacturers to plan and budget effectively, and can impact their profitability and competitiveness.

Another key challenge is managing capacity. As Robert from Simms Metal pointed out, the UK is a net exporter of scrap metal, which means that demand for this material is often higher abroad than it is domestically.

To overcome these challenges, British manufacturing companies need to adopt a proactive approach to risk management. This means identifying potential risks and developing strategies to mitigate them. For example, manufacturers may need to diversify their supply chain to ensure that they have access to a range of raw materials, rather than relying on a single source. They may also need to invest in technology and infrastructure to improve their capacity and efficiency, and to reduce their dependence on scarce resources.

Another strategy is to collaborate with other companies in the supply chain to pool resources and knowledge. This can help to spread the risks and create a more resilient and sustainable manufacturing sector. Made in Group, as a membership group, provides a platform for manufacturers to network and collaborate, and to share best practices and insights.

In conclusion, managing global risk is a complex and ongoing challenge for British manufacturing companies. However, by adopting a proactive and collaborative approach, and by investing in technology and infrastructure, it is possible to overcome these challenges and build a more resilient and sustainable manufacturing sector for the future.

Made in Group organises a hybrid calendar of events including virtual and face to face, the virtual events have become niched as best practice and thought leadership events, that can be seen as a mini mastermind group and a way for members to keep their finger on the pulse so that they remain an ‘innovation-active’ business.

To join Made in the Midlands or Made in Yorkshire visit our site and inquire online www.madeinthemidlands/com/join

For existing members who wish to book on, then login to your dashboard and navigate to the events sessions, from where you can attend events, see delegate list and for virtual events you can re-watch the session.

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