News

Jul 13, 2023

SME Foundation supports 62 orgs, 390 entrepreneurs in implementing 'Kaizen'

The SME (Small and Medium Enterprises) Foundation has supported 62 organisations and 390 entrepreneurs in adopting "Kaizen" practices in their business operations to improve productivity and product

The SME (Small and Medium Enterprises) Foundation has supported 62 organisations and 390 entrepreneurs in adopting "Kaizen" practices in their business operations to improve productivity and product quality.

Kaizen is a concept for continuous improvement, focusing on enhancing productivity and product quality at no added cost, mostly applicable across industries like commerce, banking and healthcare.

The foundation has also created awareness among 1,200 entrepreneurs about the implementation of Kaizen.

This information was revealed at an event focusing on productivity development needs, the global productivity situation, and the various actions carried out by the SME Foundation to foster productivity growth held at the Agargaon Parjatan Bhaban (tourism building) in the capital on Monday.

Md Mofizur Rahman, managing director of the SME Foundation, chaired the event and Professor Md Masudur Rahman, the chairperson of the foundation, attended as the chief guest.

Md Masudur Rahman said, "The SME Foundation will consult with the Competition Commission to ensure equal opportunities for both big entrepreneurs and SMES in accessing services from public and private institutions".

"In addition, we plan to seek assistance from the Bangladesh Bank to simplify the process of opening letters of credit (LCs) for SME entrepreneurs," he added.

At the event, awards were given to SMEs that successfully completed the "Kaizen Small Development Project" during FY 2022-23, and the initiative "Kaizen in SMEs" for FY 2023-24 was launched.

The SME Foundation has been actively appointing experts to implement Kaizen projects. Between FY 2013-14 to FY 2022-23, the foundation has provided support to 62 SME organisations through the "Kaizen in SMEs" initiative. This support included raising awareness among 1,200 people, conducting skill development for 390 individuals.

In the current fiscal year, the foundation plans to continue its support by extending assistance to 10 more organisations.

The implementation of the Kaizen programme involves steps such as raising awareness, training of trainers, selecting institutions, monitoring productivity, creating pilot projects, conducting skill development training, project implementation, final report preparation, and motivational activities.

Mohammad Jahangir Hossain, deputy general manager of the SME Foundation, delivered the welcome speech at the event, while AKM Masud, professor at the Department of Industrial and Production Engineering of Buet, and Muhammad Mesbahul Alam, director general (additional secretary) of the National Productivity Organisation, were present as special guests.

Muhammad Arifuzzaman, senior research officer at the National Productivity Organisation (NPO), presented the paper "Productivity in SME Development" during the event.

Entrepreneurs, representatives, and stakeholders from diverse industries, including agriculture and food processing, light engineering, plastic, leather, electrical and electronics, ready-made garments, and handicrafts took part in the event.

SME (Small and Medium Enterprises) Foundation