In the new decade, manufacturing enterprises, in general, and Tran Phu Electric Engineering, in particular, will have to confront big corporations with strong potential not only in the international market but also in the domestic market. To adapt and buck beyond the trend to meet the needs of customers, businesses are forced to bring about a revolution in investment, production, and business. It can be said that this is a huge challenge for Tran Phu Electric Mechanical in this period of time.

Challenge in technology

The 2020s have witnessed lots of powerful developments in digital technology, artificial intelligence, intelligent connectivity, and so on, creating a huge competitive advantage for businesses that know how to apply new trends. This also means that Tran Phu must keep up with technology in the world which is changing day by day to improve its competitiveness.

In fact, many Vietnamese businesses can not keep up with the technology trends related to their fields. They have not been proactive in accessing technology, unable to adjust the business organization model to meet with technology trends leading to high production costs, which makes their competitiveness of goods low. Conversely, if businesses know how to apply science and technology to optimize production processes, they can reduce costs and increase maximum labor productivity.

With a long tradition of more than 35 years in building and developing, Tran Phu Electric Mechanical Joint Stock Company has always pioneered the application of advanced technologies and techniques of European countries to bring to the market quality products with high quality that meets national standards of Vietnam (TCVN), Europe (IEC / DIN / VDE), USA (UL, ASTM), Japan (JIS), etc. In the future, Tran Phu will continue applying modern science and technology in production as well as enterprise management to improve labor productivity and optimize investment costs; thereby reducing production costs and increasing competitiveness while meeting the needs of the market quality.

Modern production line of Tran Phu

Challenge in human resources

Nowadays, the requirement for human resource quality is also one of the biggest problems in businesses during the period of 2020 to 2030 due to the great shortage of human resources in the context of Industry 4.0. According to PwC (PricewaterhouseCoopers) statistics and facts, 79% of CEOs said that the shortage of skillful, high-quality human resources is the biggest obstacle to the growth of businesses in the digital age when investing heavily but not enough human resources for deployment.

The new decade with the trend of digital transformation that clearly requires employees to update new knowledge, improve working skills, and enhance labor productivity to adapt. Therefore, Tran Phu also has to overcome challenges in recruiting, training, and developing high-quality and skilled "digital human resources" to catch up with the competitive market.

With the accurate development policy and clear orientation from the very first days of establishment, in the future, Tran Phu will still focus on developing human resources, especially high-quality and highly skilled human resources to make use of opportunities and reduce risks in international economic integration and Industry 4.0, giving customers sustainable values and trust.

Tran Phu continues to focus on training high-quality human resources

Challenge in a competitive market

In this new period, Tran Phu Electric Mechanical faces fierce competition with large corporations not only in the international market but also in the domestic market.

Previously, Vietnamese consumers could only shop at existing stores in traditional retail channels of some suppliers. But nowadays, consumers can fully satisfy the shopping demands with diverse choices from international brands to domestic through available, multi-channels, and online stores. Therefore, the competition in this time is increasingly strong and still going on, forcing Tran Phu to make more efforts in the fierce competition in the market.

Moreover, the situation of fake goods is still complicated in the market. To ensure a positive and professional image of the brand as well as preserve the rights of always using genuine and high-quality products for customers; Tran Phu has always approached and applied new technologies not only in production but also in brand and product image recognition. Specifically, we deploy genuine stamps affixed on each coil of Tran Phu wire or Tran Phu app - an app-tool to help authenticate genuine goods and be an online portal connecting customers to the company quickly and conveniently.

Over the past 35 years, with persistent development efforts and continuous improvement of quality and product diversification to meet consumer needs, Tran Phu has become one of the leading enterprises in the field of Vietnam electric cable manufacturer and proud of being "Vietnam Value Brand".

The challenges in the new era are not only barriers but also opportunities for businesses to transform and grow stronger. Tran Phu Electric Engineering believes that with the proper care of the Board of Directors and the effective coordination of the human resources, Tran Phu will overcome difficulties and will create great changes, increasingly improving the production capabilities and product quality, satisfying the increasing demands of the market.

CONTACT INFORMATION:

Tran Phu Electric Mechanical Joint Stock Company

Address: No. 41, Phuong Liet Str., Phuong Liet Ward, Thanh Xuan Dist., Hanoi.

Hotline: 0898.41.41.41

Email: contact@tranphu.vn

Website: www.tranphu.com.vn