Skills and finance key to £30bn supply chain boost

This is the conclusion of Pulling Together, a report from management consultants A.T. Kearney, which states that a focused strategy to boost innovation and service driven supply chains could also create over 500,000 jobs in the same period.

According to the Confederation of British Industry (CBI) the report reveals underinvestment in research and development (R&D), a growing skills crisis, and weakened foundation industries - such as plastics, metals and chemicals - that are key to advanced manufacturing.

CBI believes government and business should act together to strengthen supply chains, focusing on innovation, better quality products, and customer service.

As supply chains bear the brunt of skills shortages, the CBI is calling for action to double the number of STEM graduates, triple the number of STEM apprentices, and make more concerted efforts to bolster the number of women in manufacturing.

Similarly, skills funding should be better aligned with the UK’s industrial strategy and the Tier 2 skilled visa cap should be raised via reforms to the immigration system.