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February 2005
Benchmark reports reward entrants in excellence awards
While it's the financial and service sectors that seem to
make the news, manufacturing is still important in the wealth
creation process. Underlining this, the UK Institution of
Mechanical Engineers' Manufacturing Excellence Award scheme
provides valuable rewards for every entrant. But speed is
of the essence. Entries close early next month...
The Institution of Mechanical Engineers (IMechE) is to provide
more than £1 million worth of free consulting advice
to UK companies next year as part of its Manufacturing Excellence
Awards programme (MX). That takes in UK subsidiaries of international
companies as well as the majority of small and medium-sized
enterprise sector into which most PM companies fall.
The advice takes the form of comprehensive benchmarking reports,
valued at over £10,000 per company by accountants KPMG,
and freely available to any UK-based manufacturer entering
the 2005 MX Awards, regardless of their size.
The reports provide an impartial and confidential assessment
of a company's current performance using a structured scoring
system against acknowledged best practice. In addition, the
reports recommend ways in which to improve performance, taking
into consideration each company's size and its resources.
The Awards, which were first organised by the IMechE in 1982,
are free to enter and expected to attract over 500 category
entries in the coming year. All entrants will also qualify
for a free diagnostic 'health check' visit from the Department
of Trade and Industry's Manufacturing Advisory Service (MAS).
These visits involve up to a further five day's on-site consultation,
assessing productivity levels as well as providing feedback
and advice. Recent research suggests that companies assisted
by the MAS have, on average, seen their overall value increase
by £104 000.
Jacqui Smith, Minister for Industry, commented:
"MX commands enormous respect in UK industry by consistently
delivering an in-depth analysis of the strengths and weaknesses
of its entrants."
John Ling, technical manager at the IMechE, added:
"By entering the MX programme, you not only find out
where your company stands in relation to your competitors
but you come away with a good deal of sound advice to put
into practice. We've known instances where this has been directly
responsible for a 20 per cent increase in turnover."
Applicants to the MX programme are required to fill out a
self-assessment audit which is sent to them on receipt of
an MX 2005 Awards entry form. For entry forms, log on to www.mx2005.org.uk
or contact Stephanie Levin at the IMechE on 0207 304 6815
/ s_levin@imeche.org.uk.
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