Develop the new business model for SME manufacturer

George K.L. Chien, Felix T.S. Chan

Research output: Chapter in book / Conference proceedingConference article published in proceeding or bookAcademic researchpeer-review

Abstract

Purpose - In this new era, due to the market competition, there are a lot of pressures in the SME manufacturers. Most of the manufacturers are facing challenges, such as increasing product variety, small lot size and short delivery time, but there is lack of a suitable and practical methodology to solve such problems. This study is mainly based on drilling down into an SME manufacturer, exploring the limitation in its current business model and determining the boundaries of its operation process. Design/methodology/approach - This research paper develops a new business model, two-phase operation process and standardization modular design to solve the above problems and then trial run the new business model in the SME manufacturing company. Findings - The results prove that the new business model and the new operation process not only solve the problems in product variety, small lot size and short delivery time, but also create a synergic effect for transformation of the surplus to business opportunities, and improve the efficiency and effectiveness in the operation. Research limitations/implications - This study only focuses on an SME manufacturer, so that the results and conclusions are limited. In the future, it would be interesting to collect data from other manufacturers and conduct a cross-country comparison study. Originality/value - The study provides a clear roadmap for exploratory and cost-effective solutions for other SME manufacturers to achieve continuous improvement of their business model.

Original languageEnglish
Title of host publicationICQEM 2020 - 4th International Conference on Quality Engineering and Management, Proceedings
EditorsPaulo Sampaio, Pedro Domingues, Catarina Cubo, Monica Cabecinhas, Marti Casadesus, Frederic Marimon, Antonio Ramos Pires, Pedro Saraiva
PublisherUniversidade do Minho
Pages423-442
Number of pages20
ISBN (Electronic)9789895491100
Publication statusPublished - Sep 2020
Event4th International Conference on Quality Engineering and Management, ICQEM 2020 - Braga, Portugal
Duration: 21 Sep 202022 Sep 2020

Publication series

NameInternational Conference on Quality Engineering and Management
Volume2020-September
ISSN (Electronic)2184-3481

Conference

Conference4th International Conference on Quality Engineering and Management, ICQEM 2020
Country/TerritoryPortugal
CityBraga
Period21/09/2022/09/20

Keywords

  • Continuous Improvement
  • PDCA Cycle
  • Standardization

ASJC Scopus subject areas

  • Management of Technology and Innovation
  • Strategy and Management
  • Management Science and Operations Research
  • Safety, Risk, Reliability and Quality

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