A long-awaited Confederation of British Industry campaign to improve industrial productivity through best practice benchmarking is to start next month.
Ambitious targets for the planned five-year campaign include reducing automotive vehicle launch times from 40 to 15 months and cutting costs across the construction sector by 40%.
Be Fit for the Future will build on last year’s Fit for the Future report, whose central message was that if manufacturers adopted just the average best practice levels of the UK’s competitors, GDP would increase by £60bn.
If the same principles were applied to the whole economy, there could be an increase of £300bn.
The campaign, to start on 14 December, will embrace a range of activities including seminars, events, company visits and fact sheets. Specific objectives will include improving productivity, cutting order cycles from 35 to five days and improving customer loyalty. ‘These are ideals to aim for,’ said a CBI spokeswoman.
The CBI and Department of Trade and Industry have been working on the details of the initiative since September last year. About 40 blue-chip firms have been recruited to help spread the message and act as ‘mentors’ to smaller firms.
Up to £1m of government funding has been pledged.