Manufacturing industry is more open to investments, despite tough environment

A new market research by Barclays has revealed that companies in the manufacturing sector are still actively investing back into their business, despite the tougher economic climate.

As a media report reveals, more than half of companies participating in this research study (54 per cent) revealed plans to actually boost investment spend over the next 12 months, while only 20 per cent considered that they’re likely to actually cut back on investments.

The same study also revealed that, over the past five years, 67 per cent of respondents have been steadily increasing investment levels, while 62 per cent plan to continue over the next five years.

Additionally, it seems that companies are more likely to invest in new machinery and tools, followed by product development, upgrading factory fixtures and research and development.

Mike Rigby, head of manufacturing at Barclays, said: "The survey results show manufacturers are in this for the long-run, committed to increased investment to make sure they are in the best possible shape when we come out of recession, and showing that there is confidence in long-term profitability."

Investing in top-range workforce management solutions should also be a priority for manufacturers, given the long-term benefits such a solution could provide, and this is specifically where Time & Attendance North East could put its extensive experience to work.

Our systems are user-friendly, innovative and designed for the working environment. They also offer a wide array of features, such as support for contactless smart cards (which would really come in handy in a busy manufacturing environment), as well as optional finger print biometrics and mobile phone SIM card support.

Moreover, the multi-user, networked, multi site Time and Attendance, Access Control, Fire Roll Call and security system includes European Working Time Directive checking and reporting and allows administrators to save up to 2000 employees, supports extensive shift management and payroll-related operations, the allocation of various pay bands, and much more.

If you want to find out more about the range of solutions provided by Time & Attendance North East, just contact our dedicated product team, they’ll be more than happy to answer all of your queries.