Samsung backs Vietnamese firms joining global supply chain

Accordingly, Minh Man Printing Trading Production, Nhat Minh Design Manufacture, and Vinavit will be provided with necessary training documents and free consulting services from the Republic of Korea’s group.

Vietnamese companies often lack capability to forecast the market, leading to low sales and slow-moving inventory, so that there should be improvements in inventory management, said Chairman of Samsung Electronics Vietnam Kim Dohyung.

At the same time, these firms need to improve their quality control management and productivity, he added.

Minh Man Printing Trading Production is weak in planning, therefore it needs to be assisted in setting standards in planning process, from receiving orders to designing plans for production, Kim suggested.

He went on to say about Nhat Minh Design Manufacture which has the same problems. The firm needs detailed plans for each stage of production and should apply Key Performance Indicators (KPIs) to measure the performances of the stages, he said.

Samsung commits to providing the best support for the companies but they should also play a more active role in innovating production in order to enhance competitiveness and soon participate in the global supply chain, according to the chairman.