Manufacturing companies including Schweppes and Foster’s that have taken-on interns through student placement organisation Co-operative Education for Enterprise Development (CEED) have reportedly saved a massive $1.5 million.
According to CEED, this saving is equal to an average 330% return on investment in the last financial year.
CEED says 28 companies, including: Schweppes; Foster’s; Parmalat; Australian Aerospace; Australia Post; and Bundaberg Sugar, have taken on student projects to streamline processes and reduce waste from their business.
The company’s director, Graham Willett, says students can help manufacturing businesses highlight lean processes and save in time, materials, energy and water.
“But 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,” Willett said.
CEED partners with four universities in Queensland and NSW and places around 100 ICT, Engineering, Business, Science and Sustainable Management students per year into industry and government-based projects.
The company charges clients a small fee to find the candidates and oversee the projects, a portion of which is transferred to the student as a scholarship.
The project counts towards academic credit and more than 40% of CEED students go on to work at their placement companies.