Industry Activities
Global Fastener Forum— Sheh Fung General Manager Kent Chen: High-value Transformation and Green Manufacturing are Future Trends
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2024-07-26
Under the title of "High-Value Fastener Products and Smart Manufacturing", Kent Chen, General Manager of Sheh Fung Screws, pointed out at the beginning of his speech that fasteners will remain a promising and potential industry in the future. He believes that the robust development of the fastener industry has enabled Taiwan to gain a foothold in the world, and hopes to share his experience with the industry through Sheh Fung Screws' recent achievements, and to gather the power of the industry to integrate industrial resources and work together for the fastener industry. In particular, high added value, smart and green manufacturing are the top priorities.
3 Key Elements of High Added Value: Efficiency, Difference, and Change
General Manager Chen mentioned that there are three major stages of seeking high added value: "Improvement of Efficiency", "Creation of Difference", and "Continuous Transformation". In order to improve efficiency, Sheh Fung has been active in digital transformation and introduced automated systems to enhance information transparency, helping employees understand the company's niche products. Sheh Fung has also introduced the Japanese coating process to create differences and added value to the industry, creating a better price advantage. Considering that the prices of Taiwanese screws are mostly in the mid-price range and there are tariff costs for export to Europe, Sheh Fung set up a Vietnam factory to expand its sales scope and diversify risks at the same time. General Manager Chen said: "Over the past 60 years, Sheh Fung has successfully transformed from a trader to a service-oriented manufacturer, and has continued to find solutions for customers to enhance the value of its products". Among the four major fastener types, General Manager Chen said that aerospace fasteners feature strict requirements, high price but a small market; automotive fasteners benefited from the development of EV are undeniably an important part of Taiwan fastener industry seeking high added value, and its threshold, quality and safety coefficient requirements are higher; the electronic screws commonly used in the semiconductor and electronics industry feature high unit price and high added value; construction screws, though in greater demand, do not show many high added value features, Sheh Fung, who has been rooted in this field for many years, can further increase the price by strengthening their high added value through the coating technology, which can also create a high value added market for itself on par with other aerospace fasteners. General Manager Chen emphasized that in order to break away from the red ocean competition, it is important to move into customized production and to maintain consistent quality and delivery. Sheh Fung has been able to increase its gross margins by providing screw design services to its customers through its own factories, which is especially important at a time when the cost of acquiring land is higher.
Smart Manufacturing Facilitates Digital Transformation and Cross-Industry Cooperation Boosts Green Manufacturing
Sheh Fung's data presentation has become more transparent and real-time through scanning barcodes to automatically produce work orders and automatic quantity filing on electronic scales, etc. It is also capable of clearly calculating carbon emissions data in response to ESG and CBAM trends. General Manager Chen pointed out that green manufacturing will be the focus of Sheh Fung's future development, and that the understanding of the manufacturing process to enhance carbon reduction and the cooperation withing the fastener industry (or even cross-industry) will accelerate the achievement of the green manufacturing goal. Finally, General Manager Chen emphasized that "people" play a very important role in Sheh Fung's corporate culture. He believes that the loss of talent is a loss for the company, so Sheh Fung has many employee welfare systems to help retain talent, and also encourages cross-departmental participation and communication among employees to strengthen the centripetal force. Through these modes of operation, Sheh Fung has begun to enjoy the fruits of its efforts in the past few years, with order volume, sales and EPS all rising significantly. In addition, General Manager Chen said that social care is also an important part of Sheh Fung, and that Sheh Fung will continue to contribute to the community with the spirit of "what is taken from the community is used in the community" while making profits.
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