Supply Chain Resilience Among SMEs Manufacturer in Malaysia- A Survey

Abstract

According to the 2018 report from Business Continuity Institute, supply chain disruption was listed as one of the top ten threats. There was a tremendous growth in academic research papers on harnessing resilience to face this growing business threat. The number of insolvent companies in Malaysia had increased 1,203% year-on-year from 2754 in the year of 2016 to 38093 in 2017 which is extremely worrying. This paper presents the familiarity of supply chain resilience among SMEs manufacturers in Malaysia including their recovery speed in their past experience in facing financial crisis and potential barriers they might face when creating supply chain resilience and lastly a list of performance measures for their “financial survival bag” was suggested. 800 questionnaires were distributed to SMEs manufacturers in Malaysia and 280 respondents’ responded to the survey. Majority of the respondents are directors/CEOs/owners/ financial decision makers. More than half of the SMEs manufacturers in Malaysia are familiar with resilient supply chain management. However, more than half of them have only a limited understanding and are unclear about the action to be taken to respond to disruption. In a nut shell, majority of the SMEs manufacturers in Malaysia have not implemented resilient supply chain management. Furthermore, there is a need to research on their business longevity and ensure their long term survivability in Malaysia.

Keywords: Resilienceresilientfinancial supply chainSMEs manufacturingresilient supply chainorganization resilience

Introduction

Business management involves to cope up with many hazards that might crop up due to weather situations, calamities, natural disasters or terrorism. Business Resilience stands for the ability of business owners to regrow their business after a financial setback hits the company. Commonly, the term resilience is increasingly popular in research literature for its ability to reduce risks in a disruptive system. The word resilience originated from the Latin word “resiliere”, which means to “bounce back” (Hosseini et al., 2016). What is the nature of resilience? The cells in a human body have the ability to regenerate and / or to heal naturally (Tang & Marshall, 2017), a built-in design by God. Resilience is an essential element/ characteristic; everyone has resilience. Resilience is revealed in our daily living/ routine processes for instance, in a simple process of toddler learning to walk. No one can claim to have learnt to walk (objective to achieve) without a fall (disruption/ failure). The process of falling, standing up again and walking is a very good example of natural resilience. This involves risk management where one starts to study/ investigate why fall happens, how to prevent falling during walking process. Taking precautions to prevent a fall is the right strategy to be adopted. However, it does not automatically guarantee no more falling. And yet, for one to stand up once again and get stable, what is needed is a “resilience” strategy. Similarly, resilience has to be built in to businesses, systems, materials and everything else to ensure their survivability. According to the 2018 report from Business Continuity Institute, 446 respondents in the survey were concerned about supply chain disruption as a threat to their organization and the current trend has increased the complexity of the supply chain. Regardless of the sector and size, supply chain disruptions vary from natural disasters to man-made disruptions (cyber-attacks, terrorism, etc.). The wide range of uncertainty and unavoidable risk has been fertilizing the growth of organization resilience.

Organization resilience is the ability of an organization to recover/bounce back from disruption to a better state of the organization (Lee et al., 2013). Organization resilience requires 3 basic pillars; operational resilience, information resilience and supply chain resilience (Kerr, 2016). Operational resilience is the adaptiveness of the process towards disruption. Information resilience is the robustness of the product against disruption. Supply chain resilience is the agility of the people in the chain when facing disruption.

Problem Statement

An idea or a research question arises after many unpredictable turbulences had taken place recently, for example the earthquake in Japan 2011, Ebola in Africa in 2014, and Typhoon Lekima 2019. This always leads to humanitarian supply chains with the first thought to save lives. But then what happens to the business organization? Can the business still carry on? Approximately 40% of organizations that were seriously affected by disruption would go insolvent, one year after disruption 25% of organizations would close and followed by 75% without a continuity plan would fail after three years of the disruption (Federal Emergency Management Agency [FEMA], 2016). In this turbulent business world, supply chain that is designed and managed just to reduce cost, enhance delivery and improve quality may be incapacitated after a disruption. This situation has propelled the growth of supply chain resilience. Resilience is an indicator to ensure business continuity. Building resilience in organizations or in their supply chains is an important factor (Hohenstein et al., 2015).

Malaysia as a developing country still remains favourable among the investors (Malaysia Investment Development Authority [MIDA], 2017) .Based on SME annual report 2016/2017 (SME Corp Malaysia, 2017), 98.5% of the enterprises in Malaysia are SMEs and yet according to the Malaysia department of Insolvency (Malaysia department of Insolvency [MdI], 2017), 38,093 companies were insolvent in Malaysia (by force and voluntarily) which saw an increase from 2,754 in the year of 2016 to 38,093 in 2017. In SME annual report 2017/2018 (SME Corp Malaysia, 2018) SMEs faced with cash flow problem accounted for 35.9% of all SMEs. Of these, 71% is due to high cost of doing business, 45.8% because of late payment by customer/ clients, 43% caused by Goods and Services Tax (GST) and lastly 27.5% due to high import cost as a result of the weak Ringgit. Cash flow is a fundamental part of financial supply chain. In this context, to grow continuously in the Malaysia economy, any organization must be resilient.

The current development in resilient supply chain performance measurement aspect is lacking of robust empirical and analytical research to ensure that one is ready to face any disruption. The previous studies do not provide measures that reveal the resiliency of resilience in the supply chain. The “recovery” process that constitutes “redundancy” and “flexibility” (Sheffi, 2005; Xu, 2008) is not clearly measured. The performance measurement methods or tools provided are still very general. The findings from Pettit et al. (2013) has once again highlighted the weakness in redundancy (capacity) and flexibility although they do provide recovery as a measure but the recovery measure constitutes the factors of crisis management, resources mobilization, communications strategy and consequence mitigation with imprecise variables. The suggested performance measures and metrics (financial survival bag) would provide the quantitative measures for supply chain resilience.

Research Questions

This paper tries to answer the questions listed below:

• How familiar are Malaysia SMEs manufacturers with supply chain resilience?

• How long does a SME manufacturer in Malaysia take to recover from a financial crisis?

• What is a “financial survival bag”?

• What is in the “financial survival bag”?

Purpose of the Study

Supply chain resilience involved planning resilience and adaptive resilience (Lee et al., 2013). Thus, the purpose of this paper is to investigate the familiarity of supply chain resilience among the Malaysia SMEs Manufacturers. Secondly to identify the average recovery period from their past experience. Lastly to propose a financial survival bag. The familiarity of supply chain resilience is important for an organization, as it tells how well an organization planned for the disruptions (planned resilience). For example, at what stage of familiarity the organization knows about supply chain resilience, only heard about it or understand it and yet no action for it or understand it and do not know what to do, and/or understand and already have planning/ working on the action to be taken. The importance of identifying the average recovery period could reflect, firstly, the experience they have in the past. It tells how well they can adapt to the disruptions (adaptive resilience). Secondly, it helps in future planning. For instance, it takes 3 months to recover from a disruption, the redundancy of resources/ buffer of stock may require up to 3 months’ supply to stop the ripple effect from the disruption.

Planned resilience and adaptive resilience are not sufficient to overcome disruption. To have a complete supply chain resilience, an auxiliary tool maybe required. Hence, the proposed Survival Bag concept. With this tool, it could increase the survival rate/ recovery rate/ be more resilient. This concept will be explained in the following section. The challenge in this study is the unprecedented and some perplexing paradigms used in this research field. Supply chain resilience will be pivotal to determine the survivability of an organization in this sophisticated century. Thus, this study is at a stage of vital importance in the exploitation and utilization of supply chain resilience.

The scope of study is limited to the SMEs manufacturing sector in Malaysia. The disruptions in this study focus on financial crisis (credit risk) only. Normal/ common supply chain starts from suppliers where products are supplied by suppliers and end with customers/ end users. However, financial supply chain reverses the normal supply chain. Financial supply chains start from the payment from customers/ end users that make payment to the organization and it ends with the expenses of the organization such as suppliers, utility, etc. Supply chain resilience in this paper is known as organization resilience.

Research Methods

This paper adopts a survey/ short interview approach to SME manufactures with the help of SME Corp Malaysia. A multi-method sampling was conducted with the first batch of 200 questionnaires being distributed via post and email using systematic random sampling from the list of SMEs found in SME Corp Malaysia’s website. Second sampling was a stratified random sampling, where “cold-call” visits were made to distribute 300 questionnaires to selected SMEs industrial areas from north, central and south peninsula Malaysia. Third sampling was a simple random sampling where 300 questionnaires were distributed and face to face short interviews were conducted in SME Corp Malaysia (HQ) in KL Sentral. A total of 800 questionnaires were distributed. 280 respondents responded to the survey. Face to face short interview was implemented to simplify and reduce the survey answering process. The advantage of face to face short interview was that respondents can have a better understanding about the new concept of financial survival bag. Some of the measures proposed are surprisingly new to the respondents including factoring which has been in Malaysia for more than 20 years and crowdfunding. The questionnaires were designed to be answered by the people relevant to financial supply chain management/ financial decision makers (CEO, CFO, GM, etc.) or directors within the organization. As the response required seniority level, the questionnaire was limited to 3 sections.

The first section consists of 12 close ended questions where 4 questions are about the demography of the respondents. The questions cover the experience of the respondents in supply chain, their organization age, and the type of industries and the size of their organization. Three questions are about supply chain resilience and ISO related. The objective of these three questions is to understand the familiarity of respondents with resilience and their plan for resilience. Another 4 questions, are about their past experience with financial crisis. Their past experience on financial crisis will reveal how adaptive the respondents are and the robustness of their respective industries. The last question on the possible barriers they may face when implementing supply chain resilience allows the respondents to select more than one answer. The list of barriers were adopted from Roberta Pereira et al. (2014). From the response, 86% of the respondents are directors/ CEOs/ owners/ financial decision makers and 14% by others which included HR, admin and GM. The list of 12 questions is provided in Table 01 .

Second section of the questionnaire is a list of performance measures and metrics for the “financial survival bag” suggested based on the literature review (Table 02 ). For this section, the respondents were required to rate the selected performance metrics according to the importance and applicability of the metrics for the financial survival bag using a 4 point Likert scale. Lastly, the third section is an open ended question for respondents to suggest any additional performances measures/ metrics. The data analysis of the second and third sections of this questionnaire are not included in this paper. As the objective of this paper is to investigate the understanding/ familiarity of supply chain resilience among Malaysia’s SMEs manufacturers and to explain the concept of the proposed financial survival bag.

Findings

In this paper, the findings will only discuss the first section of the survey covering 12 closed ended questions. Secondly, the concept of a financial survival bag with suggested performance measures/ metrics is described.

Conclusion

This paper has provided a general understanding of supply chain resilience definitions and past research on its performance measurement. According to the survey results, 70% of Malaysia’s SMEs manufacturers are familiar with supply chain resilience but 44% of them are considered only slightly familiar which means they have only heard of supply chain resilience but have no idea on the action to be taken. Malaysia’s SMEs are encouraged to start planning and prepare for disruptions. As preparation, it is suggested to reserve enough resources for not less than 3 years. This is based on the findings from the survey where 37% of respondents recovered within 1 to 2 years, with 38% of the respondents declared having no experience in financial crisis and 1% preferred not to answer. Financial weakness, lack of information, lack of coordination and control, complexity of resilience, lack of capacity, lack of collaboration and lack of flexibility are cited as the main barriers in building a supply chain resilience by 80% of the respondents. Furthermore, this paper has proposed the concept of a financial survival bag to measure resilience. With the resilience in mind while preparing for the survival bag, one must be able to use the tools/ supplies to survive. The survival bag is not a guarantee for survival but is a set of tools/ supplies to increase the survival rate. This survival bag is prepared mainly for financial crisis (credit risk). It is strongly encouraged to check the performance measures/ metrics periodically as they may “expire” from time to time. The tools/supplies in the survival bag may vary based on different countries, organization size and maturity/experience of the organization. The suggested financial survival bag contains 7 performance measures (financial, cost, time, quality, flexibility, information sharing and relationship) and 23 performance metrics.

The limitation of this paper is that the suggested survival bag is specially made for Malaysia and if it is to be used in a different country, the tools and supplies may vary accordingly. As Malaysians are generally considered to be more conservative, questions related to money are less likely to be answered by the respondents. For example, 38% of the respondents consider never experience financial crisis before and yet 75% of the respondents are considered mature SMEs which have been established for more than 5 years. Based on this outcome, the robustness level in Malaysia SMEs manufacturers is high. Yet data by SME Corp Malaysia showed 35.9% of SMEs are faced with cash flow problems. Thus, the data collected for recovery period can only be used as a reference. They may change depending on the situation, organization size and experience of the organization. Furthermore, to determine whether the 1 to 2 years recovery period is too long or too short, it must be compared with the average longevity of business life span. If the average business life span is 5 years, then 1 to 2 years of recovery is considered too long. In future, it is recommended that more research should be conducted on the average business life span of organizations in Malaysia to ensure their long term survivability. Secondly, SMEs are encouraged to self-equip with the knowledge and skill on how to survive. Last but not least, future opportunities for research should focus on the preparation of survival bags for different types of business disruption and for different industries.

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