Research Interest Group (RIG), part of Northumbria University's Newcastle Business School, is looking to partner with UK SMEs operating in national or global supply chains, to help reduce inefficiencies and enhance cost-savings, profitability and customer satisfaction.
Here, Dr Alireza Shokri, lead at RIG, explains what the Group can do for SMEs and how the benefit to business productivity and the bottom line can be vast. The Group has been able to predict £50m in savings, over an eight-year period, for SMEs it has worked with. It is now reaching out to the region’s SMEs to assist them.
Can you explain the types of SMEs you are looking to partner with?
We are looking to work with SMEs from all sectors and industries, the precursor simply being that they operate within UK or global supply chains. Every business, despite how well they think they operate, can become more efficient and increase productivity as part of continuous improvement which, ultimately, will have a positive impact on the bottom line with minimum effort and resources.
I hear all the time from businesses that they are selling well but their bottom line does not reflect this. It is time for SMEs to look inwards to identify, via data collection and analysis, the hidden areas for them in which improvements can be made. The results can be vast.
Can you explain the level of investment required, in terms of time and, if any, cost?
RIG has worked with a number of SMEs and time is a most valuable asset that is often in short supply. I am keen to reassure businesses that may be interested in engaging with us that many of the SMEs we have assisted are time poor and we have worked around that to achieve significant results.
In terms of cost, there is none involved with partnering with RIG. The initial step is a simple conversation, where we will ask about the SME’s pain points and then we will look at ways to find a solution. In some instances, we can agree a consultancy project or apply for funding if the solution is more complicated. This is never guaranteed and if the application is not accepted, we will look at the problem laterally and endeavour to find an alternative solution.
What is the benefit for an SME in partnering with a university?
There are a number of reasons why an SME would benefit from collaborating with a university, in this instance Northumbria University’s Newcastle Business School. One of the most obvious being that we have a wealth of experience and knowledge, having worked with a multitude of SMEs that face similar problems, helping them to operate in a smarter way.
The business landscape is very challenging and most SMEs are firefighting on a day-to-day basis. When you have RIG’s support, which understands operational and supply chain pain points and has the knowledge to come up with practical solutions, a company can continue with business as normal whilst we work on its behalf to improve efficiency, profitability and business productivity.
Newcastle Business School also has a growing SME network and host dedicated events aimed at supporting likeminded SMEs to help network and grow. Much of this activity is communicated through the ‘Why Small Business Matters’ podcast that can be listened online or through your podcast app on your smartphone.
Are you looking to establish on-going relationships with the SMEs you assist?
RIG exists to find a sustainable solution for problems that SMEs are facing, so we leave them in a position where they no longer have the problem or can deal with it independently. That being said, we are always keen to keep an open dialogue with those businesses we have partnered with and if any other operational inefficiencies or problems arise, we would encourage them to seek our assistance once again.
How can SMEs contact you to discuss how RIG can help their business?
The easiest way is to contact me directly via email: alireza.shokri@northumbria.ac.uk A simple chat can be the beginning of a very fruitful relationship and the journey to making a business more profitable and competitive.
