KUALA LUMPUR, 17 April 2020 – Malaysia Productivity Corporation (MPC) has organised a “Post Covid-19: Reboot Your Business Model” Forum as part of the government initiative to ensure the economy and important supply chain could recover as soon as possible.
The program which held through digital was moderated by Dean, Faculty of Computer Science and Information Technology Universiti Malaysia Sarawak, Associate Professor Dr. Johari Abdullah with two key speakers from MPC and Serba Dinamik Holdings.
Director General of MPC, Dato’ Abdul Latif Haji Abu Seman urged the businesses to flourish and rise from this crisis by staying positive and to view it as an opportunity to be even more productive by leveraging on technologies.
“COVID-19 brings unprecedented changes in the way we do business and the way we communicate. Real transformation must take place not just lip service. 76% of SMEs are micro enterprises with various financial, human capital, managerial capacity and market access constraints. These enterprises must go back to basic i.e. first financial management. To brave similar challenges, they must address financial management discipline and planning for cash reserve.
Second, enterprises must review business model and accelerate adoption of digital technology. Support from government agencies aplenty, proactively seek those grants, assistance, export, halal, machineries, and more.
Besides that, changing in consumer habits leading to acceleration in digitalization & e-commerce activities than ever. SMEs must quickly transform and use online payment method for business transaction and other digitalization applications to ensure greater efficiency and productivity in their business process,” he said.
He also said that industries and businesses must be alert with the initiatives and programmes by the government in assisting and ensuring fast economy recovery.
“For example, MPC also has conducted various digital talks on providing insights to help the companies and industries to cope with the operational stress generated amid COVID-19. MPC also offers work process improvement and waste reduction programmes for SMEs (Skim Peningkatan Produktiviti Enterprise).
Besides that, MITI advocating for Readiness Assessment for Industry 4.0 which allows SMEs to be assessed under the initiative to enhance productivity and reduce dependency on foreign labour. Again, this programme is provided for free. Application is still open via MITI Portal,” he said.
Read more: How SMEs Can Survive the COVID-19 Pandemic