The '2012 Suppliers' Day' event took place at the Sheraton Incheon Hotel in Songdo, Incheon, on February 21. In attendance were more than 200 people, including President & CEO Yongsung Kim; President of Finance & Administration Office Okyoo Lee; DICE AP/E President Bongho Cho; Vice President of Machine tools BG Jaeseop Kim; Engine BG Head Jongdae Lee; executives in charge of respective BGs and representatives from 171 suppliers.
In his welcome remarks, CEO Kim said, "In an era of global competition, conglomerates and suppliers should cooperate to secure technological prowess and competitiveness." He added, "Let’s display a true partnership and concentrate on innovation in quality and cost cutting to achieve steadfast growth."
Video clips showcasing key activities for co-growth, through which the Company and suppliers have cooperated over the past year, were presented. After a two-minute video, presentations on exemplary cases were given by three suppliers selected as good suppliers by the BG in 2011. An awards ceremony was also held to honor the best supplier(Dae Young Core Tech) and good suppliers(Mijoo Electronics, Daekee Machinery Company). These winners were awarded 10 million won and 5 million won in prize money, respectively, plus the extra benefit of 100 percent cash payments for supplies to be provided this year.
The awards ceremony was followed by a signing ceremony, at which representatives of supplier companies got ink on their hands and hand-printed a banner with the message "Let's push for 'quality and cost innovation’ together." When CEO Kim and the chairmen of the respective BG’s cooperation councils had finished applying their handprints to the banner, it was placed on a large backdrop installed on the stage amid massive applause.
In a bid to secure world-class quality and cost competitiveness, the Company and its suppliers had set specific goals, which included 60 percent improvement in parts quality and innovation in cost structure by 2015, among other goals. To this end, the Company will expand its Six Sigma campaign to include suppliers and transfer methods for cost innovation, including simplification of the production process, enhancement of efficiency in packaging and logistics, and improvement of materials yields. They also agreed to construct a systematic mechanism to share achievements derived from cost innovation.
The Company plans to provide far-reaching assistance, including the provision of more funds, including the management of special funds for investment in facilities and operational expenses for partner firms, a hike in the portion of cash payments and the number of payments for supplies, the joint development of new models, and technological assistance.
