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June 14, 2023 at 7:55 am in reply to: How are fintechs in Singapore driving innovation and transforming the financial landscape in Southeast Asia? #1364Gillian ReynoldsParticipant
Thanks for sharing this info.
Gillian ReynoldsParticipantDuring my organization’s Lean Manufacturing implementation, we encountered challenges such as employee resistance and identifying waste and inefficiencies. To overcome resistance, we prioritized employee involvement and engagement. We provided comprehensive training to help our team understand the benefits of Lean Manufacturing to both the organization and individual employees. We assessed using tools like value stream mapping, 5S, and Kaizen. This assessment helped us create a personalized roadmap that aligned with our strategic objectives.
For anyone considering implementing Lean Manufacturing, I highly recommend focusing on employee involvement and seeking expert guidance. It’s crucial to foster open communication and create an environment where employees feel valued and recognized. Conducting a comprehensive assessment will help identify waste and inefficiencies. Monitoring progress using performance metrics is also essential.
By addressing these challenges head-on and following these recommendations, organizations can successfully implement Lean Manufacturing, leading to reduced costs, improved efficiency, enhanced quality, and increased customer satisfaction.
Gillian ReynoldsParticipantThe Small Business Investment Company (SBIC) program, part of the U.S. Small Business Administration (SBA), was created in 1958 to fill the gap between the availability of venture capital and the needs of small businesses in start-up and growth situations. It’s a little-known fact, but the federal government is the largest single investor in U.S. private equity funds. Since 1958, SBICs have provided over $50.6 billion of funding to over 100,000 small businesses. The government itself does not make direct investments or target specific industries. Essentially, the SBIC program is a “fund of funds” – meaning that portfolio management and investment decisions are left to qualified private fund managers. As a result, SBA has very minimal direct involvement in an SBICs portfolio management operations.
January 20, 2023 at 11:50 am in reply to: Learn how Indian MSMEs can submit applications for government programs and schemes. #1190Gillian ReynoldsParticipantSubmit an application online, or send applications in the required format to the International Cooperation Director, Ministry of MSME, Udyog Bhavan, New Delhi – 110 011.
January 10, 2023 at 8:56 am in reply to: How do MSMEs obtain funding for supply chain operations? #1118Gillian ReynoldsParticipantBy providing substantial financial assistance, financial firms, including both conventional banks and non-bank organizations, aid in identifying supply chain vulnerabilities and risks.
Traditional financial institutions offer loans to MSMEs; however, these loans are typically susceptible to high default rates or are underutilized due to collateral restrictions.
Non-bank institutions and fintech companies offer alternative financing mechanisms, like supply chain funding sources, which utilize transactional information (e.g., proof of contracts or purchase orders) in favour of collateral to assist MSMEs in securing financing for supply chain operations.
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