Productivity is the most important determinant of a province and country’s prosperity. That’s why Opportunities NB (ONB) has prioritized productivity improvement as a key driver to help New Brunswick businesses increase their competitiveness and overall profitability.
Now more than ever, improving our companies’ productivity is vital to our province’s long-term prosperity. To better position themselves for success at a time when policy changes are top-of-mind, New Brunswick businesses need to innovate and embrace new processes and technologies to remain competitive in the global marketplace – and ONB can help businesses get there.
Supply chain optimization and productivity
A fully optimized, consistent, reliable supply chain is vital to ensuring all productivity metrics are met. “Even a brief disruption in a supply chain can have a dramatic impact on a company’s productivity,” notes Melanie Clark, Managing Director with ONB. “We have manufacturing clients telling us that if even one part is missing or delayed, productivity can be badly disrupted. A reliable supply chain is essential to hitting all productivity targets.”
Ensuring reliability throughout a supply chain often involves building more local connections. Geographically close supply chain partners can enhance productivity by enabling quicker delivery times, better, more frequent communication with suppliers, and reduced logistical costs due to shorter distances. This allows companies to operate more efficiently and better respond to market needs.
Ultimately, increased sourcing of local goods and services means growth for New Brunswick companies and a stronger economy. A 2018 report, Import Replacement: Local Prosperity for Rural Atlantic Canada notes that a 10 per cent shift in buying from local sources could make a huge difference to our region.
As an example, a $100M shift in spending in this province towards more local suppliers could bring approximately:
- 330 jobs
- $20.9M in labour income
- $40M in total value added
- $1.9M in indirect business taxes.
Clark says New Brunswick companies must continue building strong relationships with supply chain partners if enhanced productivity is their goal. “There is good research from McKinsey that suggests that companies that collaborate well with their supply chain partners and build great relationships tend to outperform competitors by a factor of two. We know this, and that’s why ONB is helping companies with those relationships.”
How ONB is helping
New Brunswick has made substantial investments in its supply chain and procurement approach and strategy. ONB supports supply chain optimization by helping companies explore provincial opportunities and partnerships. Our team works with these companies to analyze their supply chains, find and address bottlenecks, and prioritize local solutions aligned with company goals, making the most of what New Brunswick brings to the table.
ONB offers tailored supply chain support to companies exploring opportunities in both public and private sectors. We do this by sharing information about the capabilities of New Brunswick companies and connecting them with potential supply chain prospects in the province.
Supply chain events, like those ONB has facilitated for Marshall Canada, Southern Nuclear, and Sysco, connect New Brunswick-based suppliers with large domestic and international companies seeking new suppliers.
Companies looking to leverage ONB support for similar supply chain events are encouraged to contact our team.
Part of our value proposition
Via our Investment Attraction, Business Growth, or Export Development teams, supply chain and productivity initiatives are now a vital part of ONB’s value proposition to companies both inside and outside New Brunswick.
“Whether it’s new companies establishing themselves in New Brunswick, or local companies looking to grow outside the region, ONB is well positioned to help build robust supply chains,” notes ONB CEO Traci Simmons. The Marshall Canada supply chain event, for example, connected one of ONB’s investment attraction success stories with NB businesses to develop a strong local supply chain. The Southern Nuclear event, meanwhile, helped New Brunswick-based companies connect with a leading energy company in the Southeastern United States.
Get involved in 2025
Supply chains, productivity, and market diversification will all be front and centre for ONB in 2025. Notable upcoming events include:
- ONB’s Multi-Sector Trade Mission to Lyon, France, from March 10 to 14, 2025. NB companies will participate in Global Industrie, Europe’s leading industrial exhibition, and connect with 2,300+ exhibitors and top industry professionals. They will showcase their businesses, expand their networks, and explore new export opportunities in sectors like automation, robotics, sustainable manufacturing, and more.
- ONB’s multi-sector Trade Mission to India from March 18 to 22, 2025, which will include India Smart Utility Week in New Delhi. This is a fantastic opportunity for New Brunswick companies to explore the Indian market, build partnerships, and showcase expertise across industries.
- Southeast U.S.-Canadian Provinces (SEUS-CP) 2025, which happens in Saint John from June 8 to 10. Established to improve trade and investment opportunities, promote partnerships, and enhance technological exchanges between member provinces and states, SEUS-CP gives New Brunswick companies an incredible opportunity to meet with major buyers in Canada and the U.S. (stay tuned to this space for details).
- The Atlantic Provinces Reverse Trade Show (APRTS), taking place this fall (dates still TBD, stay tuned!). Building on the success of the 2021 event, New Brunswick is pleased to again host the APRTS. Exhibitors include public sector entities looking to procure goods and services.
Looking to become a part of upcoming trade missions or events, contact our team today!
