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Thailand’s Business Development Area Suggestions

In: Business and Management

Submitted By gatechsce
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Thailand is an export-dependent country. The Thai economy relies mainly on its products’ quality, manufacturing efficiency, and logistics competence. Moreover, ASEAN Economic Community (AEC), commencing in 2015, will intensify the future competitive atmosphere. In this upcoming regionalization, Thailand’s betterment depends on being well prepared in the logistics area. Thus, Thai businesses should develop their logistics capability especially in terms of business cooperation, business information synchronization, and logistics skilled labors.

In this context, good business cooperation means multiple companies in the supply chain jointly operate in order to meet their goals effectively. It could not only help increase the revenue, but also to reduce their cost in several perspectives. For instance, a global carmaker such as Toyota usually coaches their automotive part suppliers regarding their successful Lean Manufacturing concept which would help these suppliers to operate with more efficiency and effectiveness. At the same time, these suppliers share their knowledge concerning the part production methods, conditions, and common difficulties to Toyota, so Toyota would learn and comprehend more in feasibility of each part’s manufacturing and can design their automotive parts more practically. From this example, useful business cooperation may result in mutual benefits for many stakeholders.

Furthermore, business information synchronization, particularly information technology (IT) integration, is also becoming an essential supporting factor facilitating industries concerning reliability, flexibility, and speed. Previously, business partners may often experience mistakes in several recorded documents due to human errors. Then, it may be difficult to revise or it could take some time to confirm any data or information leading to slow response in the fast moving…...

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