Harnessing the power of digital technologies can help Lancashire manufacturers to continue to lead the way, a business leader has said.
Andy Traynor, Senior Investment Executive at FW Capital, said the industry was said to be undergoing “a fourth Industrial Revolution” harnessing new technologies which can help manufacturers to be more competitive on the global stage.
He said the introduction of these technologies would enable businesses to re-invest in upskilling their workforces enabling them to be more effective and agile.
FW Capital manages a number of investment funds, including NPIF - FW Capital Debt Finance Fund which is open to Lancashire businesses, and is sponsoring the Manufacturer of the Year award at this year’s Be Inspired Business Awards, the BIBAs.
Mr Traynor said: “The digital technologies like those often referred to as the fourth Industrial Revolution are common place in our everyday lives.
“Your smartphone has the same type of computing to learn about the way you work best and these technologies are designed to do exactly that; they can find ways to support people and make businesses more efficient.
“Manufacturers are embracing technology, seeing it as an opportunity to do things differently.
“It was Lancashire which gave the world its first Industrial Revolution, introducing the first mechanised factory systems, so it is fitting that it is at the forefront of the latest one.”
The BIBAs got its first round of judging under way yesterday with the first of a series of face-to-face interviews.
On Tuesday ( May 15), the judges for its Leisure Business of the Year and Third Sector Business of the Year categories were meeting applicants.