presents a golden opportunity to develop resilience
Access to finance, both relief funding and catalytic
in supply chains and strengthen ecosystems through
growth finance, are critical:
partnerships between the public and private sector as well as to corporates and small suppliers, that will deliver long-term benefits for all.
• share information with suppliers about funding relief schemes and offer support to access these by improving investment-readiness capabilities;
It starts with the development of a deliberate supplier development strategy, that aims to bolster small supplier resilience and bridge the divide.
and • take equity in value -adding small businesses in your supply chain but have an exit strategy to reduce long-term dependency.
Nine strategic imperatives were identified that draw on three levers, namely linkages, support and
Support in forms of non-financial assistance is also
finance.
key:
Linkages are a way to leverage network capital, often at no cost to the corporate:
• help small suppliers to pivot and build lean, agile and resilient operations that can compete in global and local markets;
• build solid partnerships with suppliers and support them in preparing for a competitive future; • enable collaborative market access opportunities by referral of suppliers to other companies; and • help suppliers to discover other networks and rebuild connections with former networks.
• support skills development' upskilling, multiskilling, and reskilling to prepare for the future; • stratify support to match different growth stages of a business ( from, start-up to business maturity, growth and beyond); and • commit to local procurement and support small manufacturers on the supply-and-demand side.
''
This crisis is an opportunity to improve efficiency and competitiveness. Now is the time for a deliberate strategy of strengthening our local ecosystem with meaningful collaboration within and between sectors, and with government. The sooner we realise we are in this together, the quicker our turnaround will be." - Catherine Wfjnberg, CEO of Fetola
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