The supply chain sub-group seeks to explore a company led opportunity, not to replace company procurement decisions, but to investigate the appetite and capabilities of local suppliers in Northern Ireland to respond to the procurement needs of some of the largest manufacturing firms.

The development of a buy and supply NI wide portal, supported by appropriate skills development programmes, aims to increase the nimbleness and responsiveness of procurement through the identification of potential local suppliers. The anticipated benefits to the larger manufacturing firms involved could include:

• Reduced costs of sourcing materials and components;
• Reduced lead time for delivery of finished goods; and
• Greater ability to manage and communicate with suppliers.

The benefits for the local suppliers and the NI economy is increased local GVA and increased job creation in local SMEs. If we were to facilitate an increase of 1% in purchases bought locally by large manufacturing companies, according to The University of Ulster Economic Policy Centre economic analysis, this has the potential to increase GVA in the NI based supply chain by c£590m over the next 15 years.