The Manufacturing Advisory Service-West Midlands (MAS-WM) has today announced it is dedicating £300,000 of its existing funding to provide a support package for manufacturers affected by temporary production shutdowns caused by the tsunami in Japan.
The emergency funding will be available to companies who can demonstrate they have been affected by events in the Far East and will give them up to seven-days of specialist support in financial management, re-negotiating finance terms and help in minimising the possible impact of delays in supply by identifying immediate cash savings.
Firms - involved in both component supply and sourcing products from Japan - are being urged to ring the dedicated hotline number 0845 245 0845
They will be immediately dealt with by a MAS-WM Specialist Adviser, who will identify the issues they are facing and, where appropriate, bring in an industry-leading expert to deliver one-on-one assistance.
“The tragic scenes in Japan have naturally caused a major backlog in the supply of components being sent from the country and a lot of global manufacturers are struggling to get the volume of electronics parts, tools and spares needed to make cars, aeroplanes, domestic goods and IT systems for example,” explained Rachel Eade, MAS-WM Auto Project Manager.
“We have developed this support package having spoken in great lengths with the supply chain about what is needed. This immediate assistance will hopefully help firms negate the potential issues that may arise from temporary shutdowns.”
She continued: “One of the biggest problems is that a lot of companies have invested in new staff, more material stocks and even additional machines to cope with major volume increases across the globe.
“If they’re not supplying they’re not getting paid and this could create short-term issues that, with the right level of specialist assistance, can be overcome.”
The support package will involve up to 7-days of support from a MAS-WM adviser, a sourcing expert or a finance specialist.
Following the immediate assistance, there could be further opportunities for business improvement activities to help with efficiency gains, reducing waste and inventory management.
“The hotline is open from today and the funding will be allocated on a first come, first served basis if a company can clearly demonstrate its business is being affected by the Japan crisis,” added Rachel.
Simon Griffiths, Chief Executive of MAS West Midlands concluded: "We have always listened very closely to the needs of manufacturers in the West Midlands and develop our support in line with their evolving requirements. With this latest programme, we are taking fast action to deliver focused improvement activities to ensure our local businesses remain competitive."
If you are interested in accessing the support package, please contact the hotline on 0845 245 0845.
