New INCIT index launching to help accelerate the growth of micro, small and medium manufacturers
全球，2024 年 12 月 12 日，新加坡 – Data suggests that a majority of businesses fail in the first few years of operations. According to the U.S. Bureau of Statistics, 20% of companies close their doors within the first year, and over 50 per cent collapse in their first five years. For small business owners in competitive industries like manufacturing, it is very challenging to stay afloat, and the stakes are extremely high.
At INCIT, we have found that a significant portion of micro, small, and medium enterprises (MSMEs) with even over 20 years of operations are struggling. Our data highlights that while they’ve passed the tricky five-year mark, approximately 44 per cent of these companies are either shrinking or stagnating in terms of their profit growth over the last decade.
The solution: Operational excellence and increased visibility
What do most of these MSMEs have in common? Most of their challenges can be traced back to the lack of prioritising operational excellence (OpEx), yet operational improvements and a continuous improvement culture are mechanisms to guarantee business survival and ongoing growth.
Meet INCIT’s revolutionary, soon-to-be-launched Operations Excellence Readiness Index (OPERI), consisting of an “all rounded” self-assessment that MSMEs can leverage to increase productivity, fast-track digitalisation, and accelerate growth. OPERI offers three key features to unlock visibility over improvement areas through a guided self-assessment, a star emblem system used to benchmark against industry peers, and reporting with in-depth analysis to highlight areas of improvement. With the OPERI-guided self-assessment, manufacturing MSME owners will gain instant insights and actionable feedback to drive business growth.
Now, micro and smaller manufacturers can create real change in their organisation from the ground up to champion operational excellence and bridge the productivity gap while addressing these top common MSME challenges: unstable financial performance, high material costs, supply chain disruptions, human resource challenges, and technical adaptation and digital literacy.
From setbacks to success – the 3 steps to operational excellence in manufacturing
With OPERI, MSMEs can improve performance in these three core steps:
Step 1 – PRODUCTIVITY building block
Improve approach and methods: OPERI helps small business owners evaluate their operational approach, workforce-technology interaction, and check to see if the right key performance indicators are in place. What’s next? Owners can integrate lean operations in their business with a focus on eliminating waste and maximising value, providing a foundation to achieve operational excellence.
Step 2 – DIGITALISATION building block
Enhance with digital adoption: OPERI helps owners assess their digital literacy. What’s next? MSME owners will integrate technology into operations and make data-driven decisions, enhancing agility, fostering collaboration, and unlocking new opportunities for growth.
Step 3 – GROWTH building block
Growth through innovation and eco-efficiency: OPERI helps owners assess their business fundamentals and growth levers. What’s next? owners can ensure they have sustainable growth, empowering them to scale business across new pathways, shrink environmental impact, and augment transparency.
OPERI in practice – guiding MSME business owners to OpEx success
Running a small busy isn’t easy—you have a lot on your mind, juggling multiple responsibilities, often with scarce resources, while striving to keep your doors open. OPERI is designed with small business owners like you in mind, offering impactful solutions and date to make a real difference.
With our OPERI quick and easy self-assessment that is accessible via an app on their mobile phones (even offline), we can help you to identify your business’s current maturity levels in key areas. Our intuitive platform is designed for simplicity. Need extra support? Access our vast library featuring animated videos and questionnaires. If you need more guidance, you can request a transformation consultant (optional), and INCIT will recommend SIRI-certified assessors suited to your business needs.
We will then deliver a tailored report outlining your company’s current state across key dimensions, which will help you pinpoint gaps and the strategies to bridge them, propelling your business toward the next level. Additionally, you will have access to how you measure up against your peers; this comparison empowers micro, small, and medium-sized business owners to focus on strategic enhancements, strengthen competitive positioning, and drive measurable growth.
Supercharge your OpEx transformation
Small business owners face tremendous pressure to keep their doors open, requiring tailored and unique solutions. The path toward operational excellence is not a straight line, but OPERI can effectively steer MSME business owners, empowering them to make the right turns down the road to their business’s OpEx success, guiding them to accelerate growth, advance digitalisation, and increase productivity.
OPERI is designed to support MSME owners and their teams to recognise and leverage building blocks to OpEx success, ensuring your business has strong fundamentals for growth and is future-proof. Together, these efforts equip MSME owners to overcome challenges and unlock sustainable, long-term success. Stay tuned for more information during the launch phase or if you’re ready to unlock your growth potential today, contact INCIT at contact@INCIT.org.
