What
We Did from the Battle of Covid-19
In 2020, the disruptive
impact of Covid-19 come a result of the global economic stagnation. The
pandemic has indicated that some firms are likely to be kicked out of the
market; others are compelled to reassess their business strategy. This year is
filled with uncertainty and change, and we must take action to consolidate our
business model.
Stabilization and Optimization
■ Optimize all administration process
First of all, we analyze
and optimize our Schedule Performance Index (SPI). Moreover, to cut down
tangible and intangible costs, we use e-invoices and e-statements of accounts
instead of using paper versions.
■ Summarize information
Integrate PSI/AR data of
different departments into our PMIS.
■ Implement big data analytics
Tracking all purchasing
orders, digging deeper into related data, and re-arrange our global
policy.
■ Depose idle assets and excess materials, adjust the sourcing
strategy
Increase the turnover rate
of idle assets and inactive materials, and enhance Warehouse Ground Area
Utilization Rate (WAUR).
Risk
Diversification
The
global businesses are undergoing a significant structural change because of the
China-US trade war and COVID-19. On the one hand, some firms are forced to
relocate their production lines and supply chains to ASEAN; on the other hand,
others choose to move their production lines back to their own countries.
Hence, Prowonderful is to take some countermeasures as below,
■ Strengthen strategic cooperation
Look for other horizontal
and vertical cooperation relationships with customers.
■ Increase the market share of domestic market needs and medical
industry
Increase the diversity of
our products.
■ Increase investments on ASEAN
Further, build up branches
for offering sophisticated supply chains in ASEAN.
Overall, the rapid and
flexible response of sudden change is our competitive advantage. We further
boost our competitive edge during the period of hardship, and we believe that
Prowonderfull will have a leap of growth.
