An industry forum was informed that Saudi Arabia is leading revolutionary efforts to improve innovation in supply chains and procurement across multiple industries.
A number of talks and panel discussions at the MENA Conference of the Chartered Institute of Procurement & Supply in Riyadh emphasized how crucial it is to protect supply chains, increase local content, and streamline government procurement spending in order to create the conditions for a prosperous future. Delegates heard that the Kingdom is using cutting-edge technologies to optimize operations and spur economic growth in a variety of fields, including real estate development and water desalination.
Supply Chain and Business Support General Manager Maan Al-Othimeen of the National Housing Co. says the company has started a journey to optimize the supply chain in the Saudi real estate industry.
Taking the platform, he presented the organization’s strategic objectives that help small and medium-sized businesses and encourage local production efficiency in order to build the infrastructure required to meet the government’s development goals in the construction industry.
According to him, the nation will be able to develop its hospitality and giga-project aspirations on a foundation provided by these efforts, which have ramifications that extend beyond the building supply chain.
In addition, NHC wants to build 600,000 homes by 2030, which will boost the economy and further spur the sector’s expansion.
NHC is empowering local businesses and promoting national workforce participation by introducing new initiatives, Al-Othimeen said, adding: “In promoting local production efficiency by supporting local factories we have launched Mawad, an online platform linking contractors, real estate developers, local factories and suppliers to streamline purchases, expand choices and stabilize market prices.
“In terms of financing, we offer financial solutions in partnership with government entities, banks and financial firms to encourage local businesses, including developers, contractors and factories and improve project completion in the real estate development sector.
“We are also building technologies through awareness campaigns while supporting local service providers.”
The general manager continued, “The company has signed 113 memorandums of understanding with local factories, reached over $500 million in transaction values, and achieved average savings of 21 percent through the Mawad platform, which is a testament to its success.”
For More Details: https://arabianworldmagazine.com/
