Handbook of Manufacturing Industries in the World Economy
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Handbook of Manufacturing Industries in the World Economy

  • Research Handbooks in Business and Management series

Edited by John R. Bryson, Jennifer Clark and Vida Vanchan

This interdisciplinary volume provides a critical and multi-disciplinary review of current manufacturing processes, practices, and policies, and broadens our understanding of production and innovation in the world economy. Chapters highlight how firms and industries modify existing processes to produce for established and emerging markets through dynamic and design-driven strategies. This approach allows readers to view transformations in production systems and processes across sectors, technologies and industries. Contributors include scholars ranging from engineering to policy to economic geography. The evidence demonstrates that manufacturing continues to matter in the world economy.
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Chapter 18: Intermediate manufacturing: profit, dependency and value attainment in supply chains

Rachel Mulhall

Extract

The intermediate metal processing (IMP) industry manufactures metal components that are incorporated into a range of end-user markets. The industry comprises two principal activities: forging (Standard Industrial Classification (SIC) 2003 code 28.4) and casting (SIC 2003 code 27.5) of metal. Both industries produce a range of metal products, from basic shapes to complex fabrications of multiple components, and for a diverse set of markets and production volumes, from one-off custom products to mass production. The industry plays a critical role in supporting other manufacturing activities, with 51.1 per cent of outputs from the basic and fabricated metals industries (SIC 2003 group codes 27 and 28) used as inputs in further manufacturing (Department for Business Innovation & Skills (BIS), 2010). In addition, IMP firms provide key capabilities and services to United Kingdom (UK)-based manufacturers through the provision of development work, low volume production and customization of components for the automotive, aerospace, marine, construction and engineering markets. These industries are significant contributors to UK exports and value-added products, together accounting for 5.85 per cent of the UK economy’s gross value added (GVA) (Office for National Statistics (ONS), 2011).

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