Thames Freeport - Britain's Trading Future

[ 64 ] U N I V E R S I T Y O F P LY MO U T H The University’s involvement in the Freeport will be coordinated by researchers from the Plymouth Business School, recently placed seventh worldwide in the Financial Times ‘Teaching Power’ rankings. Together with staff from across the institution, they will ensure that, through the Innovation Hub, partners can capitalise on the University’s significant expertise in key areas such as shipping supply and logistics, national and international trade, maritime cyber security, clean growth and renewable energy, transportation and policy and maritime automation. It will support businesses operating within the Freeport by giving them access to a pipeline of highly skilled graduates as well as helping to further the Business School’s mission by supporting the placement of highly qualified graduates into rewarding careers, with future-looking sustainable businesses wanting to make a difference to society. In addition, the University’s association with the Thames Freeport will include exploring learning development in a range of skills and competencies for existing partner organisation employees. Academics will identify opportunities for upskilling workforces across the port and the Freeport partners, which could enable employee development through progression route to degree, short courses, and microcredentials. The freeport’s contribution to innovation and trade In trade terms, relationship building based on norms, standards and trust is a process embedded in international supply chains. Fragmented global production systems operate in line with norms and standards that support the seamless movement of goods and services across borders. Supply chains are the foundation of competition in the international trading system; operating within these networks of relationships is crucial to the success of a freeport, particularly for UK SMEs post-Brexit era. One consideration in creating a freeport is its potential to stimulate economic opportunities, particularly in regions of deprivation or unfulfilled potential. The freeport multiplies trade volume using trade infrastructure and integrated technologies. Exporters and importers can integrate existing trade procedures without employees needing to travel internationally or to set up a subsidiary overseas. This integrated process can simplify planning of logistics, reduce costs The University of Plymouth’s world-leading expertise in international shipping, logistics and supply chain management, alongside its significant experience in other core disciplines, will be integral to the success of the Thames Freeport’s Innovation Hub. It will build on an existing and longstanding partnership between the University, Forth Port and Tilbury to solve common challenges faced by the industry and maximise the ports’ growth opportunities. Students modelling logistical data in the Bloomberg Suite, Plymouth Business School Plymouth Business School has developed and successfully tested analytical frameworks to explain structural and relational dimensions of social capital to evaluate market and operational effectiveness, economic development and prosperity, the growth of entrepreneurial firms and supply chain performance