Registration is closed.
- 27th May, Tuesday
- 1:30pm to 5:30pm
- Room 3.7, Level 3 2985 Jalan Bukit Merah, Singapore 159457
More than 30 participants attended the seminar on Maximise Sales and Minimise Credit Risk
Mr. Siew Ying Choy, Productivity Manager, SME Centre@SMF kick-started the workshop by introducing some of the productivity toolkits available for companies to tap on to increase workplace efficiency.
The short introduction of the various toolkits included: IMPACT Analysis, 5S, 7W, Manpower Scheduling, Process Redesign, SKU Analysis, Stock Control, and Menu Analysis. Mr. Siew also shared that the productivity toolkits are complimentary services available to all companies seeking assistance from the consultants at SME Centre@SMF.
“Taking a leap in productivity is a long term commitment. It requires a cultural shift and the employees would need to undergo training. This can bring about sustainable and continuous improvement,” shared Mr. Siew Ying Choy, Productivity Manager, SME Centre@SMF.
Presentation of Productivity $ Gain by Mr. Siew Ying Choy, Productivity Manager, SME Centre@SMF
The workshop continued with a presentation conducted by Ms. Joanna Ong Zhengyun, Marketing Manager, DP Information Network Pte Ltd. In the first part of the workshop, she shared with the participants on the various techniques to sell to ‘good’ customers.
“You have to understand who are your customers before maximising the sales. As a creditor, you need to manage the credit limit to your customers. A review of the credit limit is also essential,” commented Ms. Ong.
She went on to speak about credit evaluation. The 5Cs in the process of credit evaluation are: Character, Capacity, Capital, Conditions and Collaterals. The tips given during the session were a learning point for participants to access and review their clients. She also highlighted another common problem faced by many companies, which is the additional, sixth ‘C’ in the credit evalution process – Connection. Ms. Ong mentioned that the connection or network with customers in business dealing might cause an unknowing risk in the collection of payment.
In the last part of the workshop, she presented the techniques to keep the right customers and minimise after sales collection efforts.
In today’s competitive business environment, survivability and sustainability of the business become increasing challenging. Businesses must find the right customers in order to stay profitable and defend their revenue risks.
In the seminar, participants learnt some of the best practices to safeguard their credit exposure. With the supported from DP Information Group, participants have the opportunity to learn the assessment tools to manage the credit risk in these unique credit crunch times.
Participants gave positive feedback after the workshop. Many of the participants find the solutions and services offered by DP Information Network Pte Ltd useful.
Ms. Joanna Ong Zhengyun, Marketing Manager, DP Information Network Pte Ltd sharing tips on credit management
“I came to join the workshop to build up personal knowledge on credit issues. Some of the solutions shared by Joanna are also applicable to share with my colleagues after I return to the office. It is a good workshop where solutions are provided for participants,” said Ms. Yeo Cheow Cheng, Business Development Manager, WBS Wealth Asia Pte Ltd.
“It is a refreshing workshop! Interesting pointers were shared on the process on personal loans and the back-end services available in the market,” shared Mr. Ken Chan Yuk Lun, Sales Director, CBRE Realty Associates Pte Ltd.
Programme is tentative and is subject to change at the sole discretion of Singapore Manufacturing Federation.
Should you require further information or assistance, kindly contact Agnes Tay/ Boon Keng at 68263011
Agnes Tay/ Boon Keng
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