Bangkok--26 Jan--Online Asset
TEAM strengthens their business by cooperating with the world’s leading electronics distributors and develops VMI programs to manage goods and inventory. “Rich Fitzgerald” said that it is to reduce risks and expenses for inventory management as well as increase efficiency in meeting the customer’s demand promptly. It is matched with the fierce competition in the market. He believed the good change can be seen within this year.
Mr. Rich Fitzgerald, chief executive officer of Team Precision Public Company Limited or TEAM, said the company has partnered with many of the world’s leading electronics distributors bringing Vendor Managed Inventory-VMI connecting that of TEAM and managing of the global supply chain, in order to increase efficiency and generate the most benefit to both company and business alliances. Because the obvious benefit of implementing VMI is to reduce inventory that will directly improve cash turnover management. The system can help to reduce risk and expense in taking care and storing inventory and help to increase efficiency in meeting the customer’s demand which can be changed rapidly.
“The objective of using VMI is the desire to maintain our inventory in accordance with the market demand, reduce lead times to customers, increase capability and higher level flexibility in delivering goods, and mitigate any problems in production due to lack of component or material in shortages. It is a very important tactic for the manufacturing industry. The important thing is to help support customer’s demand promptly as OEM’s run very dynamic forecast processes. Many of our competition have already developed these programs, getting on board with this process is key to differentiation in our market”.
TEAM ’ s CEO also said that the aim of increasing efficiency in goods and inventory is to continue the company’s determination of adding value to customers. Moreover, the company can be the world-class manufacturing base for all customers with lower cost and can easily compete in the market. “The passion of our people to deliver excellence is astounding”. It makes business of hiring service be one of the good alternatives for reducing cost to solve business problem and cope with the economic slow down of business owner. Company expects to see the big change and improvement in inventory management within 2009. They also believe that this can help to support the continuous growth of company since 2008 even in the recession period of world economic.
About Team Precision Public Company Limited or TEAM
Team Precision Public Company Limited is in the business of Electronics Manufacturing Services who provides design, assembly and test of electronics assembly and electronics products according to customer requirement. The manufactured products are in the area of industrial control, consumer and specialty products which are mainly for export to more than 10 countries. The company policy is to expand its electronics manufacturing services businesses based on solid growth foundation by adding more value services and provide full range of services to the target customers which will lead to increase profitability and good return in investment for the shareholders. The company also gives emphasis on long term relationship with the customers and its supply chain.
For more information, please contact:
Wasara Chotithammarat , Investor Relations,
Tel 02-577-2350 ext 106