The COVID crisis has highlighted the fragility of supply chains, and the importance of supply chain visibility and resilience both now and in the future. With the right technology in place creative solutions such as Artificial Intelligence (AI) can boost supply chain power by predicting shortages, demand spikes and direct supplies into the chain.
Businesses applying for the new funding can look to improve results from existing supply chains, redesign or re-engineer supply chains or design completely new supply chain concepts for new products or processes. Companies of any size may apply and the consortia must include at least one SME. Projects ranging in size from as little as £250,000 to £3million. SME businesses which are Technology developers or Manufacturing companies can benefit from funding up to 70% of their project costs. The projects can take up to two years to complete.