Cost-Saving & Efficiency Gains: 4-Month Progress Report of Thailand Yongxing Company

Editor's Note: In August 2024, Thailand Yongxing Company officially launched its cost reduction and efficiency improvement initiative. After months of dedicated implementation, the project has now yielded significant phased results.

Facing increasingly fierce market competition and rising operational costs, the senior management of Thailand Yongxing Company made a decisive move in August 2024 to initiate the cost-saving and efficiency enhancement project. To ensure goal attainment, five specialized teams were established at the outset, each focusing on key areas: Optimization of labor costs, Control and refinement of procurement pricing systems,Production process improvements, Standardization of auxiliary materials, Enhancement of per capita efficiency.

Additional teams were tasked with inventory reduction, financial budget management, and data-driven decision-making support. The project, grounded in in-depth financial analysis, set a core objective of achieving 5%–10% cost savings within four months.

From September 2024 onward, after four months of relentless effort, each team delivered outstanding results, effectively boosting operational efficiency and eliminating unnecessary expenditures. To celebrate these achievements and recognize employee contributions, Thailand Yongxing held a results presentation on January 11, 2025, where teams showcased key successes and shared case studies highlighting the project’s tangible impact.

The initiative earned high praise from Mr. Lin Qiantao, Chairman of QunFeng Investment Group. In line with the project’s performance agreement, the Lean Management Department proposed monetary incentives for teams that met their targets. This proposal gained executive approval, leading to an awards ceremony on March 26, 2025, where top-performing teams were honored. At the event, company leadership commended the project members for their hard work and innovative spirit, emphasizing the importance of continuous improvement and operational excellence.Moving forward, Thailand Yongxing will deepen existing measures and explore new strategies to further strengthen competitiveness and market positioning.