Despite what various media outlets tell you, manufacturing companies in London are well and alive. And you will hardly believe how much revenue these manufacturing companies are making.
Let’s have a look at how the performance of these companies is measured and the top manufacturing companies in the UK. A list of the best manufacturing companies in the UK has been compiled by Logicsofts.
How do measure the performance of manufacturing companies in London?
Performance should be thoroughly measured as all organizations compete in a challenging environment.
People have enormous options to choose from. So, manufacturers should make every possible effort to meet the expectation.
Nowadays, business owners and managers use various tools & systems to check the implementation & performance of the strategy. But, the most popular approach is the ‘Balanced Scorecard.’
This concept includes non-financial measures which influence the financial performance of each organization. It is possible to forecast and evaluate financial results by evaluating this measure.
The benefit of this concept is that it can be used in any industry. There are no industries where strategic management frameworks cannot be implemented. Every organization is using this system.
Indeed, a Balanced Scorecard (BSC) can be used in manufacturing units, and implementing a BSC means selecting correct Key Performance Indicators (KPI).
Here are a few critical points on which the performance of manufacturing companies should be measured.
1. Man, hour per unit
This term measures the amount of time a worker needs to produce a unit/product.
It is evident that companies always want their employees to make as many units as possible (keeping quality standards high).
2. Manufacturing schedule adherence
Every manufacturing firm has a detailed plan with figures on the number of goods produced.
Following the plan is necessary as failure to deliver the planned number of items may result in substantial financial loss.
This key performance indicator is also known as an absolute variance. So, a zero value for this measuring indicator is best.
3. Effectiveness of equipment
All manufacturing companies in London use special equipment in work, so it is necessary to measure the efficiency.
This indicator used 3 factors performance, quality, and availability. These factors help in locating problems quickly.
4. Material waste per order
It is not hidden that lots of material are wasted while manufacturing a product.
Minimizing such losses can highly influence profitability margin and also lower operational losses.
However, material wastage can directly result from any external factor, equipment breakdown, and world errors.
So, evaluating this indicator will be helpful along with other measures like employee efficiency.
Based on these four factors, the top 10 manufacturing companies in London are.
Top 10 manufacturing units in London, UK
1. Rolls Royce – Aerospace and Defence
Revenue – £11,21 Billion Per Year
It is actually two companies, and most people are only familiar with the automotive division.
Their defense and aerospace division generates more revenue. The company is the 2nd biggest jet manufacturer in the world.
Along with this, they also manufacture engines for submarines and ships.
2. Associated British Food – Food
Revenue – £13.88 Billion Per Year
The company was actually founded in Canada in 1935 and now has its headquarters in London. It mainly deals with food brands like Patak’s, Ryvita, and Twinings.
It also has an association with clothes store Primark, weirdly, and British Sugar.
3. Rio Tinto – Metals
Revenue – £50,55 Billion Per Year
It is a multinational British – Australian company with its headquarters in London.
The company is named after a Spanish river of the same name.
After many acquisitions and mergers, the company holds its operations on 6 continents and is a world leader in the production of uranium, iron ore, diamond, copper, coal, and aluminum.
4. British American Tobacco – Tobacco
Revenue – £28,13 Billion Per Year
It is the first of the two tobacco companies on the list. This British American Tobacco company comes after UK’s Imperial Tobacco Company and agreed on a joint venture with the United States-based American Tobacco Company in 1902.
The company also owns various cigarette brands like Lucky Strike, Benson & Hedges, and Pall Mall.
5. GlaxoSmithKline – Pharmaceuticals
Revenue – £34.11 Billion Per Year
GlaxoSmithKline was formed with the merger of SmithKline and Glaxo Welcome in 2,000.
It led to the Brentford-based company, making it the 6th largest pharmaceutical company globally.
They also own a few consumer brands like Horlicks, Nicorette, and Sensodyne.
6. BAE Systems – Aerospace and Defence
Revenue – £19.52 Billion Per Year
This UK-based company supplies defense technology to South Africa, America, and Australia.
The company produces military vehicles like the Queen Elizabeth class aircraft carrier, The challenger 2 tank, the Tornado fighter-bomber plane, and the Typhoon fighter jet.
7. Anglo American – Metals
Revenue – £33,08 Billion Per Year
Anglo American is the biggest producer of platinum in the world.
It was initially founded in Johannesburg, South Africa by German Ernest Oppenheimer, working with American bank J.P. Morgan.
The company sourced £1 million from US and UK sources to form a gold mining company in 1917.
Because of the source, the name is Anglo American.
After that, they shifted their headquarters to London and are the primary producers of nickel, diamonds, and copper.
8. Imperial Tobacco Group – Tobacco
Revenue – £32.56 Billion Per Year
Initially, it was known as Imperial Tobacco Company. In 1911 this American tobacco company sold its shares to the British American Tobacco Company.
However, the ITC stayed invested until 1980. They also own various cigarette companies like Lambert & Butler, Superkings, and Richman and have a hand in rolling tobacco, cigarette paper brand Rizla+, and famous fine cut tobacco brand Drum.
9. AstraZeneca – Pharmaceuticals
Revenue – £29,79 Billion Per Year
After GlaxoSmithKline, AstraZeneca is the 7th biggest pharmaceutical company across the globe.
It is a British-Swedish company having its headquarters in London.
The company focus on prescription pharmaceuticals that tackle gastrointestinal infections, cardiovascular infections, respiratory & inflation issues, and cancer.
10. Unilever – Personal care, Household, and Food
Revenue – £43,91 Billion Per Year
Unilever was formed after the Dutch Margarine company Margarine Unie and Lever Brothers merger in 1929.
It is the world’s 3rd biggest consumer goods company after Nestle and Procter & Gamble.
They own more than 400+ brands, i.e., Hellmann’s Dove, Lynx, Ben & Jerry’s, etc.
These are the top 10 manufacturing companies in London along with the field of speciality. You can know about their yearly revenue and the factors on which the performance of these manufacturing companies is calculated.
About Logicsofts: Logicsofts is a IT service provider doing a range of services like professional website design and SEO service, Mobile Apps development, Digital marketing, IT consultancy, website management support, cloud services, etc at astoundingly affordable prices. Speak to our specialist for more information: +4402079935898
Abhay is a Digital Marketing Guru and an accomplished entrepreneur with an experience of a decade working with various businesses varying from startups to established brands. He co-founded many companies like Logicsofts, PrintYo, CrazyRise and more. He is passionate about SEO and Online Data Analytics, which plays a vital role in any business to grow and mutate as per the data results.
Follow me on LinkedIn, Facebook and Instagram