Student interns save manufacturers $1.5m

Businesses who have hired manufacturing interns through student placement company CEED (Co-operative Education for Enterprise Development) have reported a combined $1.5 million in cost savings.

CEED revealed that 28 companies, including Schweppes, Foster's, Parmalat, Australian Aerospace, Australia Post and Bundaberg Sugar, have used student interns to help streamline processes and achieve efficiency savings, reported.

The success of the initiative was calculated as an average 330 per cent return on investment in the 2009-10 financial year for the companies involved.

"By working with CEED, employees can concentrate on their day-to-day duties and utilise students as a dedicated resource on lean and other manufacturing projects, to undertake systematic research, gather data, record and analyse test results and produce reports," commented CEED director Graham Willett.

Young Aussies aiming to plan for the future might wish to compare student finances and a range of banking options. CEED works with four universities in Queensland and New South Wales to place students in areas like ICT, engineering, business and sustainable management. It then charges client companies a fee to find the candidates and oversee the projects, some of which is transferred to the student as a scholarship.

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