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Sands China Launches Innovative F.I.T. Programme for Local SME Suppliers

April 10, 2017 Hotel News No Comments Email Email

Sands China Ltd. launched its new F.I.T. programme for local Macao SME suppliers with a press conference Thursday at The Venetian® Macao, which included the first in a series of unique invitational matching sessions for SME suppliers to connect with Sands China user departments to demonstrate their goods and services.

This latest initiative is the first of its kind, taking its lead from Sands China’s Local Small, Medium and Micro Suppliers Support Programme, which is focused on three types of local businesses identified in collaboration with the Macao Chamber of Commerce: small and micro companies, “Made-in-Macao” companies, and Macao young entrepreneurs.

Officiating guests participate in an inauguration ceremony for the F.I.T. programme and first invitational matching session of Sands China’s Local Small, Medium and Micro Suppliers Support Programme Thursday at The Venetian Macao.

Part of the supplier support programme, the new F.I.T. programme aims to continue driving procurement between Sands China and local SME suppliers, targeted at both existing and new local Sands China suppliers. With this programme, the company seeks to increase its spend on all three aforementioned types of local suppliers.

F.I.T. is comprised of three pillars: Financial Support, Invitational Matching, and Training and Development.

Financial Support

A Sands China Young Entrepreneur Advance Payment Programme is being created to help local young entrepreneurs who have limited financial capacity to run their business. It targets Macao young entrepreneurs with a staff of 15 or below, providing them with a 30 per cent advance payment on purchase orders.

Invitational Matching

Sands China is hosting targeted trade shows, inviting local SMEs to go beyond simply meeting potential Sands China buyers. These invitational matching sessions take the process a step further by providing a platform for local SMEs to present and demonstrate their products and services to potential users and buyers at Sands China properties, with the company’s full support. The goal is to enhance communication between vendors and users, and to improve the procurement success rate.

The first of these new invitational matching sessions was held at the end of Thursday’s press conference. It focused on food and beverage, with 22 local SME suppliers invited, giving them a chance to showcase their products and services to Sands China food and beverage management, chefs from Sands China and partner hotels, as well as representatives from food and beverage outlets located throughout Sands Shoppes. Future invitational matching sessions will target other specific areas, such as operating supplies, furniture and lighting, and others.

 

Training and Development

The new Sands China Procurement Academy aims to develop local SME suppliers by sharing business knowledge and skills, helping them gain experience and capacity for working with large-scale international customers like Sands China. It will provide tailor-made practical training modules to local SMEs, presenting them with a certificate upon graduating from the academy. Graduating suppliers will be given preferential procurement under otherwise equal circumstances. The academy is targeted toward local small- and medium-sized enterprises (SMEs), micro-enterprises, young entrepreneurs, and “Made-in-Macao” enterprises.

Dr. Wilfred Wong, president of Sands China Ltd., said: “As a company rooted in Macao, Sands China is proud to take this step as the first operator to offer this special 30 per cent advance payment to eligible young entrepreneurs, through our new F.I.T. programme. We understand the financial challenges sometimes faced by young entrepreneurs, and we hope this new initiative can help them grow together with Sands China in Macao. We’re also very pleased to be introducing our new invitational matching sessions, which are the first-of-their-kind in Macao, and the Sands China Procurement Academy, which helps local SME suppliers strengthen their operations to better meet international standards.”

Thursday’s press conference was co-organised by the Macao Chamber of Commerce. Besides President of Sands China Ltd. Dr. Wilfred Wong and President of the Board of Directors of the Macau Chamber of Commerce Kou Hoi In, officiating guests were Director of Economic Affairs Department of the Liaison Office of the Central People’s Government in the Macao SAR Liu Bin; Director of the Economic Services Bureau (DSE) Tai Kin Ip; Director of the Gaming Inspection and Coordination Bureau (DICJ) Paulo Chan; Director General of the Macau Productivity and Technology Centre (CPTTM) Sheun Ka Hung; Senior Manager of the Macao Business Support Centre of the Macao Trade and Investment Promotion Institute Antonio Lei; Chief of Staff of Sands China Ltd. Grant Chum; and Senior Vice President of Finance of Sands China Ltd. Dave Sun.

Response to Sands China’s Local Small, Medium and Micro Suppliers Support Programme has been very positive, with many successful cases of SMEs working with Sands China for the first time. Programme highlights in 2016 include:

  • Sands China purchased MOP 2 billion from a total of 375 local SME suppliers, consisting of:
    • 138 micro enterprises
    • 99 Macao young entrepreneurs
    • 57 Made-in-Macao companies
    • 81 other local SMEs

Sands China’s Local Small, Medium and Micro Suppliers Support Programme is in line with the Macao government’s initiative to “buy local” and demonstrates Sands China’s commitment to supporting local enterprises as part of the company’s corporate social responsibility efforts. It is part of Sands China’s supplier relationship management strategy, which guides the company’s long-standing effort to support local suppliers, whom it views as its strategic partners.

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