Executive Briefings

'Propagating Supply Chains' Part Of U.K. Industrial Strategy

The U.K. government will help businesses collaborate to improve their supply chains as part of its proposed modern industrial strategy.

A government green paper, "Building our industrial strategy," outlined plans to cultivate "world-leading sectors," in part by encouraging businesses to create sector-wide deals addressing common challenges.

These challenges include improving the productivity of supply chains, facilitating long-term investment and coordination with suppliers and primary contractors, and identifying where investment and the development of technology can accelerate growth in the value chain.

"Most modern business sectors benefit from a thriving supply chain, which may require propagation and coordinated effort from larger firms," the paper said.

The consultation paper is part of prime minister Theresa May's plan to make the U.K. a more internationally competitive and global economy after Brexit. The strategy would "be underpinned by a new approach to government, not just stepping back but stepping up to a new, active role that backs business," May said.

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A government green paper, "Building our industrial strategy," outlined plans to cultivate "world-leading sectors," in part by encouraging businesses to create sector-wide deals addressing common challenges.

These challenges include improving the productivity of supply chains, facilitating long-term investment and coordination with suppliers and primary contractors, and identifying where investment and the development of technology can accelerate growth in the value chain.

"Most modern business sectors benefit from a thriving supply chain, which may require propagation and coordinated effort from larger firms," the paper said.

The consultation paper is part of prime minister Theresa May's plan to make the U.K. a more internationally competitive and global economy after Brexit. The strategy would "be underpinned by a new approach to government, not just stepping back but stepping up to a new, active role that backs business," May said.

Read Full Article