Spice Isle Grenada company, NUTMED business capabilities enhanced by USAID funded Program

Over the years, traditional herbalists have used nutmeg as a medication for various health ailments. More recently, however, studies have revealed that both nutmeg and mace possess distinct medicinal properties. Noëlville Ltd, in consultation with specialists involved in the pharmaceutical and medical professions, carried out intensive research which resulted in the creation of NUT-MED.   It is a blend of plant extracts including nutmeg, mace and menthol, which together with methyl salicylate provide a deep heating strength, by having a topical analgesic effect.  NUT-MED is claimed to relieve tight sore joints, arthritic pains, muscle soreness, inflammation and to give instant relief to back pains. On launching, NUT-MED, Noëlville undertook an aggressive promotional campaign on radio, TV, trade shows and magazines. As a result, in just over 3 years on the market, NUT-MED has earned consumer acceptance and demand for this product continues to grow. 

NUT-MED’s potential directed SMED to recruit Noelville as a target firm.
Initial diagnostics confirmed the strong sales and potential for growth and expansion.  Noelville’s potential for further growth and diversification was being constrained by its limited management personnel and structures. The accounting system was barely existent with only check books and sales receipts as evidence of transactions done. The SMED Program has over the past 18 months transformed the business procedures of this company by supervising the organisation of the filing and office management system.  SMED through its Business Advisor assisted  with the recruitment, orientation, and training of an Administrative Assistant who is now  preparing financials and  organizing sales as well as preparing reports for management use.

Other areas of SMED support includes the completion of an Information Technology Audit and provide specifications for computer equipment which was purchased.  An automated accounting program was installed and made fully functional.  The program has also assisted this firm with the provision of Hazard Analysis Critical Control Point (HACCP) technical support.  

As a direct consequence of the SMED supported institutionalization of a comprehensive office management system the company is presently able to update its bank reconciliation records, provide management with details of all invoicing and sales done at a moment’s notice.  All transactions are now processed directly from the computer. Through its intervention this program has been able to impact two of the key indicators of the Program increased production efficiency and increase in marketing efficiency.

Last Updated on Thursday, 09 July 2009 12:01
 
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