Global challenges bring lessons in innovation

Performance in 2009
It was a tough year for Manufacturing, Retail and Distribution in 2009 as the local economy slowed in tandem with the global slowdown. It was a year when businesses sought to reduce their costs, refocus on core activities and products, scale back on new projects and, in the case of retail and distribution, even close less profitable operations.

But the challenges also served to bring out the best in the most progressive companies, as demonstrated in announcements of product innovations and significant capital investments as companies took advantage of the slower period to install new systems and equipment, to retool and re-engineer, and to undertake the training, restructuring and strategic thinking that they had no time for in busier times - all aimed at being ready for when the local and global economy rebounds.