Business value
The mKTP
between Essex and the Finishing Line has resulted in the
latter making fundamental changes to its business model, enabling
diversification into new markets and expansion of its existing service
offerings; and acquiring new customers for eCommerce fulfilment, contract
packing and warehousing.
The
project has supported the Finishing Line’s transformation into an end-to-end
Supply Chain partner for eCommerce and retail brands and has led to a huge
shift in the company’s culture, strategic direction, and risk management
planning.
They’ve
seen an increase of over £175,000 in annual sales and £55,000 in profits
relating to new business, with both expected to continue to rise in the coming
years as the Finishing Line moves into a large, modern facility in October
2023.
The Finishing
Line used to rely heavily on the magazine promotional finishing sector but has
now adapted to work with customers such as Amazon and the UK Department of
Health. Jobs within the company have been created to keep up with growth and
demand, including roles in Product Development, Digital Marketing and Customer
Service.
Joshua
Arrowsmith was a fundamental part of the project’s success, and not only has he
since accepted a full-time role as Head of Commercial & Innovation he was
also awarded mKTP Associate of the year at the University’s Celebration of
Innovation awards 2022.
The mKTP
between Essex and The Finishing Line has been so successful that it has been
rated as “Outstanding” by Innovate UK’s national mKTP panel – the highest grade
available and won Best mKTP at the Innovate UK KTP Awards 2023.