OREANDA-NEWS. January 10, 2013. POSCO`s shared growth support activities are showing high satisfaction levels among cooperating small and medium companies, reported the press-centre of POSCO. 

In a survey on the satisfaction level and results of 224 small and medium companies participating in the POSCO Family Shared Growth Support activities conducted by POSCO, 91.7% of companies answered that they are satisfied (54.7% very satisfied).

The POSCO Family Shared Growth Support Group started operating in October of 2010 to settle in a shared growth culture amongst the POSCO Family and to also secure global competitiveness throughout the entire supply chain. Currently, POSCO Family officers visit approximately 700 companies once a month (with employees visiting frequently) for on-site experience and support management consulting. Activities last for 6 months in each session, and the 5th session started last October with 263 officers of 27 companies supporting 148 companies.

67.8% responded that these shared growth activities actually led to sales growth, and there were many opinions that as QSS activities allowed checking of current inventory and unnecessary materials, duplicate purchases decreased and productivity increased having a positive effect on sales.

20.2% noted that safety accidents decreased, 19.5% responded regarding increased productivity, and 12.3% noted decreased defective products. Also, 43.5% of the small and medium companies responded that they would like support in safety, labor, and finance evaluations the most.

POSCO plans to continue to improve shared growth activities by developing various content that are customized to the needs of small and medium companies` size and characteristics of the field of work, and secure consultants in safety, energy, and the environment. In addition, POSCO will link activities on increased profitability and product improvement to the Benefit Sharing System, allowing small and medium companies to continuously increase their competitiveness.