Amid numerous challenges, Thuan An Wood Processing Joint Stock Company has made great efforts to implement various measures to fulfill its 2023 business and production plan.
In the context of a global economic slowdown, political conflicts among major powers, and high global inflation, market demand for non-essential goods has weakened. The decline in new orders has posed significant challenges to wood processing enterprises, including Thuan An Wood.
Navigating Challenges in a Difficult Year
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At the Vifa Expo 2023 international furniture fair, Thuan An Wood attracted many visitors to its exhibition booth.
General Director Le Thi Xuyen shared that, given the ongoing shortage of orders, competition in product pricing has intensified, pushing down the overall market price level. This situation has made it harder for the company to secure new production orders, demanding proactive and timely solutions from the beginning of the year.
Strategic Priorities and Operational Efficiency
The company’s top priority is to focus on finding and maintaining production orders by actively negotiating with customers to adjust selling prices, ensuring continuous employment for workers. At the same time, Thuan An Wood is tightening control over technical and economic norms, cutting costs to maintain competitive prices.
The company continues to implement the ISO 9001:2015 Quality Management System and the FSC-CoC Chain of Custody Certification, ensuring consistent product quality and customer satisfaction. It is also promoting efficiency through the SCORE Project with the research topics “Lean Production” and “Eliminating Waste in the Wood Industry,” along with Japan’s 5S Program to create a better working environment.
In addition, Thuan An Wood is embracing Industry 4.0 technologies for production management, sales, and product development, as well as 3D visualization tools to enhance product presentations for customers.
Expanding Markets and Strengthening Partnerships
“Our company strives to maintain relationships with long-term customers while developing potential clients. We focus on in-house product design, sample production, and expanding our market through trade fairs and online promotion channels across wood industry platforms,” said Ms. Le Thi Xuyen.
“These efforts aim to attract new customers and secure new orders to ensure our business plan targets and stable employment for our workforce.”
Achievements and Commitment to Employees
Despite difficulties in 2022, Thuan An Wood maintained operations and implemented cost-saving measures to stabilize revenue and profits. The company produced 30,146 m³ of semi-processed wood and 5,840 m³ of finished wood, achieving total revenue of VND 514.3 billion and pre-tax profit of nearly VND 13 billion, with a 6% dividend payout.
The company also ensured stable jobs for nearly 700 employees, with an average income of about VND 9 million per month. Thuan An fulfills all social responsibilities, including social, health, and unemployment insurance, as well as 24/24 accident insurance and other employee benefits as prescribed by law.