February 2016 Vol.4 No.2

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Review

A review on new strategy developments in SMEs for competitiveness

^*1K.R Dushyanth Kumar, ²Dr. G.S Shivashankar and ³Dr. Rajeshwar S Kadadevarmath

¹Assistant Professor, Department of Mechanical Engg., Malnad College of Engineering, Hassan-573202, Karnataka, India
²Professor and Head, Department of Mechanical Engg., Siddaganga Institute of Technology, Tumkur-572103, Karnataa, India
³Professor and Head, Department of IE and M, Siddaganga Institute of Technology, Tumkur-572103, Karnataka, India

*Corresponding Author’s E-mail: dkumar1097@rediffmail.com
Ph. +91 9481967374

Accepted February 09, 2016

Abstract

In most of the current situations, Small and Medium scale industries (SMEs) are struggling in their business due to product variations in market, economic crisis, and competitors market to overcome this difficulties, they are announcing volunteer retirement schemes and lay-off their employees and also even closed too. So that, instead of increasing the selling price, these industries they are thinking to reduce their internal costs for improving the quality of the product. The product depends on customer because they are deciding the market value related to cost and quality basis. Due to these reasons, this paper insists them to apply the most effective Lean manufacturing principles for different stages production systems and supply line also. This research work aims to incorporating the lean manufacturing and supply chain management principles especially in SMEs to get the better product efficiency with reduced cycle time through the quantitative analysis is the main criteria. On the basis of strong review, also some guidelines are suggested which will be the good strategies for the SCM for sustainable competitive advantage for their market shares and performance of their business, Further proper justification is given through this work.

Keywords: Lean Manufacturing Techniques, Productivity tools, Small business improvement, Survival of SMEs