How to Stand Out in the Market

With the development of globalization and digitalization, market competition has become increasingly intense. The supply chain is a vital component of a company’s production and operations, and it has become one of the key factors behind RISHENG's success. Improving supply chain competitiveness has therefore become a challenge our company must face.

I. Strengthening the Procurement Process

The key to enhancing procurement competitiveness lies in strengthening the procurement process. By establishing a well-rounded system, we ensure that the procurement process is smooth, efficient, and transparent, which improves procurement quality. This includes providing suppliers with portal access, ensuring full transparency at every stage—from placing orders and shipping to receiving at the warehouse, invoicing, and payments. With mutual oversight in place, efficiency is significantly enhanced.

II. Talent Development

To better guide procurement staff and improve efficiency, procurement quality, and competitiveness, we regularly offer training and examinations for procurement personnel. This helps cultivate professionals with expertise in supply chain management and innovation. It also enhances the team’s ability to innovate and helps maintain the company’s position in relevant supply chain technologies and solutions.

III. Optimizing Supplier Selection

Selecting the right suppliers is crucial in the procurement process. Therefore, companies need to establish a comprehensive supplier evaluation system, developing assessment criteria based on the different product or service needs and conducting thorough evaluations of potential suppliers. This helps businesses select suppliers that best meet their requirements, thus reducing procurement costs and improving quality and stability.

In conclusion, enhancing supply chain competitiveness has become a challenge that RISHENG must face in today’s highly competitive market. Through strengthening procurement processes, cultivating talent, and optimizing supplier selection, RISHENG can stand out in the market and achieve success.

Unity | Collaboration | Advancing Together

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