Fuyao Glass Industry Group released its 2017 annual report recently, which unveiled some interesting insights into the efficiencies of this global glass maker. In the report, the company identified its core competitiveness, successes and challenges for the future.
When analyzing its core competitive, the company reported strengths in a variety of areas. These included training a team that has competitive advantages in operation, management, technology, quality, technique, design and IT in the glass industry; creating a standardized, transparent and international financial system and the ERP-based process optimization to lay a solid foundation for digitalization and “Industry 4.0”; building a comprehensive industrial ecology, such as sand mineral resources, quality float technology, research and development of process and equipment, global layout of R&D centers and supply chain network and staff training; and development of a strategy that allows the company to react promptly to market changes and provide total solutions for automotive glass for customers.
The company also has some pretty significant goals for the future. This includes extending the “boundary of ‘a piece of glass,’ strengthen the study in the trend of glass integration and provide more comprehensive product solutions and services to automobile factories and ARG users.”
Fuyao has also adopted an “aim of zero defect,” and to “consolidate the foundation, cultivate talents and carry forward the culture of continuous improvement to build the lean operation system.”
Another one of its many objectives is “to improve staff growth and happiness index to make Fuyao a great company.” In fact, AGRR spoke to Jeff Daochuan Liu, president of Fuyao Glass America, about this very subject late last year, and he echoed this sentiment.
Any company has challenges, and Fuyao addresses the ones ahead as well. Among those are uncertainties in the global economy.
“The Chinese economy is currently in a critical period of transformation and development, optimization of economic structure and change of growth impetus,” the company says in the report. “The outstanding problem with the change of economic development mode will bring challenges to the domestic development of the company.”
Regarding glass, Fuyao says, “the upgrade of product consumption and technical progress pose new requirements on automotive glass and on automobile window solutions.”
The company does have an operating plan to meet these challenges head on.
“In 2018, Fuyao will face greater challenges due to slowdown of automobiles sales growth amidst increased economic uncertainties at home and abroad,” the company says. “As such, the company will achieve lean cost reduction and efficiency enhancement through management reform, technological innovation and intelligent manufacturing with a persistent orientation towards the demand of internal and external customers. Based on the scientific decision-making and transparency of big data management and the pragmatic technological foundation of human and machine, the full-value chain operations management will be realized. The production volume, sales volume and other principal operating indicators of automotive glass are expected to maintain steady growth for the year of 2018.”
The company also vows to stay competitive and “constantly improve the value and competitiveness of the Fuyao brand.”