CPABC Industry Update - Page 3

Manufacturing – A Growing Industry in BC WINTER 2016 Following our look at the forestry industry in the fall issue of Industry Update, in this issue we turn to the manufacturing industry – a sector still reliant on BC’s strength in resources. With over 7,200 manufacturing establishments, the sector contributed $14.7 billion to the BC economy in 2014, representing nearly seven percent of GDP. BC’s manufacturing sector holds fourth place, both in terms of manufacturing output in Canada, and as the fourth-largest industry in BC. Top manufactured products in BC include wood, paper, and food products; non-resource manufacturing is a growing area, representing nearly $9 billion in exports in 2014. The Chartered Professional Accountants of British Columbia was formed through the amalgamation of ICABC, CGA-BC, and CMABC. CPABC was officially established when the CPA Act came into effect on June 24, 2015. About CPABC Industry Update is the organization’s online magazine for members working in industry. Published quarterly, Industry Update is distributed to over 36,000 members, candidates, and students in British Columbia. Opinions expressed are not necessarily endorsed by CPABC. Copyright CPABC Industry Update 2016. Contact us Visit us online at bccpa.ca, or email info@bccpa.ca. Editorial inquiries can be sent to Tiana Mah at tmah@bccpa.ca. In this Issue In this issue, CPABC Industry Update looks at how manufacturers can manage their foreign exchange risk, how information is replacing inventory in effective supply chains, and key takeaways for Canadian manufacturers. We also spoke to JD Sweid Foods, one of Canada’s leading processors of poultry and meat products for retail and industrial foodservice markets, about their involvement with CPABC’s Career Connect program. We’ve made some changes to this issue based on your feedback from the spring 2015 member satisfaction survey. In addition to our sector focus, going forward we will include articles addressing issues facing members in industry, ranging from HR to management challenges. We look forward to your feedback on this redesigned issue. Please send comments to info@bccpa.ca. Look for this icon throughout Industry Update Click to return to In this Issue (page 3) 6  How Are You Managing Foreign Exchange Risk? in every issue 10 Integrated and CostEffective Supply Chains 4 Industry Snapshot: Manufacturing 14 Thinking About Quitting Your Job, Yet Again? 23 PD Opportunities 17 CPABC Career Connect Employer Profile: JD Sweid Foods 20  hat Type of CFO Excels W within a PE-Owned Company? 6 25 Connect with CPABC Online 10 14 17 20 WINTER 2016 | page 3