Experts call for stronger supply chain ties for SMEs
Building strategic partnerships across the supply chain is essential for small and medium-sized enterprises (SMEs) to navigate market disruptions and secure sustainable growth, according to industry e...
Experts are urging small and medium-sized enterprises (SMEs) to establish stronger connections within their supply chains in order to effectively handle market disruptions and foster long-term growth. At a recent panel discussion during the QNB Group SME Local Business Boost series, industry professionals emphasized a shift from conventional buyer-vendor relationships to collaborative partnerships across Qatar's business network.
Nicolas Dean Stothard, general manager at Doha Petroleum Construction, Muhammad Farrukh, a senior expert in treasury and corporate finance at Nebras Energy, Karthik Ramaiah, chief operating officer at PETRO-Q, and Jad Chahine, senior vice president of QNB SME, were among the panelists. Ramaiah highlighted the need for a shift in the relationship between customers and suppliers, moving away from purely transactional interactions to a focus on shared problem-solving during project execution.
He noted that the relationship must evolve to focus on collaborative problem-solving to better address issues as they arise during the execution phases of a project.
Stothard also stressed the importance of open communication in managing project distortions that can impact financials in different ways depending on the project phase. He explained that each phase may require a unique approach to mitigating distortions, which in turn can affect financial outcomes. To ensure a mutually beneficial resolution, Stothard emphasized the necessity of strong relationships and transparent communication between all parties involved.
From the perspective of larger project owners, Farrukh stressed that strategic partnerships are built on proven operational reliability and adaptability, rather than short-term pricing adjustments. Major corporations seek suppliers with a proven track record and the flexibility to adapt as project specifications change. Farrukh emphasized that true resilience hinges on genuine institutional competence, solid internal systems, and clear corporate governance, rather than merely appearing competent.
To assist smaller firms in securing larger contracts, Chahine stressed the importance of building financial relationships with banks early on. This early engagement allows banks to extend credit when larger projects arise. Chahine also highlighted that accessing cash flow remains a significant challenge for growing companies, as larger projects often consume capital long before generating revenue.
QNB supports SMEs taking on major contracts by providing dedicated contracting teams that offer tailored project financing and separate cash flows to maintain operational liquidity.
Written by urgent.news from Gulf Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
