Award-Winning Manufacturer Re-Shapes Its Future
Future Advanced Manufacture Ltd manufactures a range of high precision components for the aerospace, oil and gas, marine and defence industries.
The company approached the Manufacturing Advisory Service (MAS) for support as it sought to re-shape its business model and consolidate operations.
- Awarded a £1.5m contract to re-shore production back to the UK from China
- 30% increase in turnover
- Relocated to a new 38,000 sq ft facility
- Created 20 new jobs
“As a result of the work done with MAS we have been able to increase our appeal to a wider customer base.
“This has enabled us win a landmark contract to manufacture and supply a key component for a local business, re-shoring production back to the UK from China in order to reduce lead times and costs, and increase quality control.
Craig Peterson, Managing Director, Future Advanced Manufacture Ltd
The Manufacturing Challenge
Having previously placed more emphasis on research and development (R&D) rather than repeat manufacturing, Future Advanced decided to make a radical shift in the company’s focus.
However, this in itself presented a challenge because it quickly became evident that the business was not set up to cope with high complexity, repeat manufacture.
Craig Peterson, Managing Director, Future Advanced Manufacture Ltd, said:
“We needed some professional expertise on how to make changes to our business model and working environment that would mitigate any risks and give us the confidence to grow moving forward.”
“MAS funded our attendance at a strategic development programme* where it became clear to us that we needed to re-shape our business model to achieve long term growth.
“Following this, we participated in a lean leadership programme led by MAS. This revealed inefficiencies in our production process, which was set up under five separate business units,” said Craig.
“Within a year we achieved our goal of a 50/50 split between R&D and repeat manufacture.
We then consolidated operations by bringing all of our business units together under one roof at a new larger factory, which has increased our efficiency by 15 per cent.
“We have also achieved a substantial increase in our turnover and this growth has seen us create 20 new jobs in just six months,” said Craig.
“Future Advanced Manufacture has a clear growth strategy and we worked closely with the team to identify areas in their production process that could be improved and to help develop a culture of continuous improvement. It is very rewarding to see the fantastic progress that the company has made.” John Phillipart, Manufacturing Advisor, MAS.
*Future Advanced Manufacture Ltd selected a MAS Registered Consultant from QuoLux to deliver this part of the project, which was grant funded by MAS.
Turnover: £8.8m Sector: High precision engineering
Location: Cheltenham, Gloucestershire