This is How a Taiwan’s Leading Fastener Brand Threefold Their Profit with Digital Transformation

 Founded in 1986 by Thompson T.H Chang, Anchor Fasteners enabled digital transformation to produce excellent quality fasteners and reduce downtime. They leveraged the benefits of Dynamics 365 ERP for Manufacturing and Microsoft Azure IoT, and other data services to boost their OEE (Overall Equipment Effectiveness) by 15%, the machine utilization rate by 12%, and cut downtime by about 17%. It immensely aided them with improved production efficiency and yielded more orders.  

Fasteners are sometimes unnoticeable. However, they still manage to hold an aircraft together. Anchor Fasteners manufactures a wide range of high-quality fasteners and broadens product lines for the bio-medical and auto sector with time.  

The company is based in the Ganeshan district, at the central location where Taiwan’s fasteners are primarily manufactured (about 70%). With their unique capability to forge cold, they have boosted 30% of the product’s agility and provided outstanding products to their customers.   

Chang’s vision has come to life which is reflected in the company’s sales. Today, Anchor Fasteners’ main revenue comes from foreign exports and supplies the most expansion of river nuts and bolts in Asia and Taiwan.  

The Moment Where Anchor Fasteners Witnessed the Industry Transition and Desperately Needed ERP for Manufacturing 

Taiwan counts exporting fasteners as the primary economic driver and is highly driven by foreign exchange rates and overall market conditions. With increasing competition and rapid global changes.  

Chang found lucrative economic opportunities in the auto segment and turned to it in the year 2000. Auto fasteners occupy half of their production. Anchor also invested in optical inspection technology to increase yield.  

Another major shift in this business was to set foot in the Vietnamese market. Since 2004, Anchor has been producing fasteners for scooters. Investing in magnesium alloy products also allowed them to enter the bike industry and capitalize on their light metal needs.  

Chang has seen challenges and opportunities throughout this time and was resolute to bring the whole industry forward. After facing the growing competitive threats from China and Vietnam, Chan focused on strengthening their technology to get a competitive edge in the industry. They started researching and preferred to choose ERP for Manufacturing. After considering various factors, Microsoft Dynamics 365 was the most viable choice.  

How COVID-19 Accelerated the Business Transformation of Taiwan’s Fasteners Industry? 

COVID pandemic hit the fastener industry hard in Taiwan. In 2020, Anchor Fasteners had to encounter a series of hurdles such as last-minute orders, currency appreciation, an increase in the price of raw material, logistics and workforce shortages, and so on. The business then decided to upgrade its business model with ERP for Manufacturing and considered selling 92% of its produce abroad. Eventually, this transformation became more of a necessity than a choice.  

The general manager of Anchor Fasteners Pi-Feng Chu describes Chang’s involvement with the company as a series of marketing and product strategy shifts and using digital transformation for an internal upgrade.  

Azure Cloud Transformed Their Journey of Productivity 

Azure Cloud transformed how they operate their business. With so many uncertainties around, they still managed to take a data-centric approach. Personalized their solutions and most importantly gained complete visibility across their end-to-end supply chain. They further blended productivity apps with intelligent manufacturing cloud services and security to upgrade their work and optimize their workforce. With handy technology like this, they could easily fill labor gaps.  

Moreover, they even managed to make stronger relationships with their customers than their competition in the market with the help of Azure Cloud. They also analyzed upcoming threats and customized technology to become futureproof using IT, OT, and open scalable and trustworthy ideas.  

Their service resilience and profitability with intelligent supply chain planning and execution witnessed an improvement. Further, they could create new business values and sustainable practices with connected products even during times of uncertainty.  

Just like Anchor Fasteners, many other manufacturing businesses have benefited from Dynamics 365 ERP for Manufacturing and Cloud Azure Services. If you want to experience exceptional services that streamline your business and boost your profit threefold, you can Contact Trident Information Systems. We are a Gold Dynamics 365 Implementation Partner and Diamond LS Retail Implementation Partner. 

Comments

Post a Comment

Popular posts from this blog

Key Features and Capabilities of D365 F&O: A Comprehensive Overview

Image
Key Features and Capabilities of D365 F&O: A Comprehensive Overview. Introduction: What is D365 F&O? D365 F&O is a comprehensive cloud-based ERP solution developed by Microsoft. It combines financial management, supply chain operations, manufacturing capabilities, human capital management, business intelligence, and more into a unified platform. With D365 F&O, organizations can achieve greater visibility, agility, and efficiency across their entire operations. Financial Management General Ledger and Chart of Accounts D365 F&O provides a robust general ledger system that allows organizations to effectively manage their financial transactions. The chart of accounts feature enables the creation of a hierarchical structure for categorizing financial information, providing granular insights into the company’s financial health. Accounts Payable and Receivable Efficient management of accounts payable and receivable is crucial for maintaining healthy cash flow. D365 F&O...
Read more

Enhancing Manufacturing Efficiency with Trident's Vision Intelligence Systems

Image
Enhancing Manufacturing Efficiency with Trident\'s Vision Intelligence Systems. Introduction In the fast-paced world of manufacturing, efficiency is key to staying competitive. Trident’s Vision Intelligence Systems offer state-of-the-art solutions that harness the power of machine vision and artificial intelligence to optimize manufacturing processes and drive continuous improvement. By seamlessly integrating advanced cameras, sensors, and algorithms, Trident’s systems provide real-time insights, actionable data, and intelligent automation. The Role of Vision Intelligence in Manufacturing Vision intelligence refers to the ability of machines to perceive and interpret visual information, just like humans do. In manufacturing, this technology enables systems to capture and analyze visual data, making it possible to detect defects, measure dimensions, identify objects, track movement, and much more. Trident’s Vision Intelligence Systems utilize sophisticated algorithms to process v ht...
Read more

Machine Vision Inspection for your FMCG Manufacturing Plant

Image
Machine Vision Inspection for your FMCG Manufacturing Plant. Are you an FMCG manufacturer? How fast can you produce good quality products? If you need a solution that ensures faster production with enhanced quality and greater ROI (Return on Investment), you must get a Machine Vision Inspection. You must be facing tough competition in the market. Fast Moving Consumer Goods are the fastest-selling and low-profit margin covering goods. Hence, you must stand out in the market. Manufacturers that are still relying on human efficiency to inspect goods need a serious technological shift, or they will fall back into the line. Traditional Defect Detection System may include low digital involvement and high human dependency, whereas, in the case of Manufacturing Inspection Software, there will be low-to-no human interference. Traditional methods are prone to a good sum of challenges such as: Human dependency. Lack of consistency due to different perceptions of humans. Time-consumin https://trid...
Read more