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Interim management popular in manufacturing
The UK's manufacturing sector is increasingly turning to interim executives to improve their business processes.
That is according to Aster Solutions, which has suggested that transitional directors have become popular in the industry during the recession, as pressure from global markets has forced many businesses to seek executives with experience in change management.
Many leading manufacturing companies in the UK are facing the prospect of reduced sales, rising costs and staff reductions, which Aster suggests are problems that experienced interim managers can identify and eliminate.
Specifically, turnaround directors recruited to manufacturing organisations' boards are implementing measures to improve lead-times and reduce cash outlays, which if successful, can make them self-financing.
Transitional executives are particularly important for the country's industrial production sector in the present economic climate, as manufacturing output declined in May to its lowest level in 17 years.
Indicating that the worst is not yet over for the sector, the data from the Office of National Statistics showed that production has fallen by 12 per cent year-on-year.
Categories: Energy, Manufacturing & Infrastructure