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Overview of MFCA and VSM In the realm of SMEs, the quest to reduce costs and enhance efficiency can be challenging, primarily due to resource limitations and a lack of data-driven 2 | RAPID COST-REDUCTION APPROACHES FOR SMEs INTRODUCTION insights. [...] VSM A value stream is the sequence of activities an organization undertakes to deliver on a customer request [3], which also refers to a lean management technique used in business and manufacturing to analyze, design, and improve the flow of materials and information required to bring a product or service to a customer. [...] It provides a visual representation of the entire process from the beginning (usually the raw materials or initial customer request) to the end (delivery of the finished product or service to the customer). [...] Analyzing the Manufacturing Process The heart of the cost-reduction journey began with a closer examination of the manufacturing process. [...] Preface Introduction Challenges in Cost Reductions by SMEs The Willingness Factor The Know-how Challenge Resource Limitations Competency Gaps Overview of MFCA and VSM MFCA VSM A Modified Approach Case Study The Challenge Export Dilemma Navigating Uncharted Territory Analyzing the Manufacturing Process Visualizing the Process Estimating Costs Visualizing the Problem The Stage 3 Dilemma Analyzing th.