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Driving sustainable growth in SME manufacturing: The role of digital transformation, project, and capture management
1 Independent Researcher, UK.
2 Department of Business Administration and Management, Anambra State polytechnic, Mgbakwu, Nigeria.
3 Independent Researcher, Lagos.
4 Access Bank Plc, Awka, Nigeria.
5 Havenhill Synergy, Nigeria.
Research Article
International Journal of Science and Research Archive, 2024, 11(01), 2012–2021.
Article DOI: 10.30574/ijsra.2024.11.1.0270
Publication history:
Received on 01 January 2024; revised on 09 February 2024; accepted on 11 February 2024
Abstract:
In the landscape of Small and Medium-sized Enterprises (SMEs) within the manufacturing sector, achieving sustainable growth amidst increasing competition and evolving market demands presents a significant challenge. This abstract delves into the pivotal role of digital transformation, project management, and capture management in fostering sustainable growth for SME manufacturers. Digital transformation has emerged as a transformative force, offering SME manufacturers unprecedented opportunities to optimize processes, enhance efficiency, and expand their market reach. Through the adoption of advanced technologies such as Internet of Things (IoT), Artificial Intelligence (AI), and cloud computing, SMEs can streamline operations, improve product quality, and swiftly adapt to changing consumer preferences. Moreover, effective project management plays a crucial role in driving sustainable growth by ensuring timely delivery of products, cost optimization, and resource utilization. By implementing robust project management methodologies such as Agile or Lean, SME manufacturers can mitigate risks, enhance collaboration, and accelerate innovation, thereby gaining a competitive edge in the market. Furthermore, capture management, encompassing the identification, qualification, and pursuit of business opportunities, is instrumental in securing long-term growth for SME manufacturers. By strategically identifying target markets, understanding customer needs, and developing tailored solutions, SMEs can effectively capitalize on emerging opportunities and strengthen their market position. However, harnessing the synergies between digital transformation, project management, and capture management requires a comprehensive strategic approach. SME manufacturers must invest in cultivating a culture of innovation, fostering cross-functional collaboration, and nurturing talent equipped with the requisite digital and managerial skills. Driving sustainable growth in SME manufacturing necessitates a holistic approach that integrates digital transformation, project management, and capture management strategies. By embracing technological advancements, optimizing operational processes, and seizing market opportunities, SME manufacturers can embark on a trajectory of sustained success in the ever-evolving landscape of manufacturing.
Keywords:
SME; Manufacturing; Digital Transformation; Capture Management; Review
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Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0
