Importance of supply chains to industrial strategy

The supply chain is the blood that pumps the heart in our economic system. It is such an important part of our economy.

Chuka Umunna is a British Politician, from the Labour Party, who has been Member of Parliament (MP) for Streatham, London since 2010 and was Shadow Business Secretary from 2011 to 2015.

In the video Chuka recognises the importance of manufacturing and the broader supply chain to the UK economy. With an economy overly dependent on consumption, cheap money and house price inflation it is time for change. He calls for a more balanced economy with less reliance on the South East, and greater emphasis on exports.

Chuka highlights that the success of the automotive industry is a double-edged sword. The UK has focused on final assembly, we are assembling parts that have been supplied from all over the world. To build a more resilient UK automotive industry we need to focus on strengthening the UK supply base where appropriate. New ‘green’ and ‘autonomous’ vehicle technologies provide a natural opportunity to do so.

A reflection of Chuka’s commissioning of the Wright Review of advanced manufacturing in the UK and its supply chain is testimony to his understanding of the importance of the supply chain to the UK economy.

For an alternative perspective of the Automotive Supply Chain please watch the ‘Those Special Moments’ poem by Pangaea Poetry.