báo cáo kinh tế quốc tế - đại học ngoại thương Analyzing supply chain of vietnam beverage

FOREIGN TRADE UNIVERSITY SCHOOL OF ECONOMICS AND INTERNATIONAL BUSINESS -*** - GRADUATION THESIS Major: International Business Economics ANALYZING SUPPLY CHAIN OF VIETNAM BEVERAGES INDUSTRY Full name Student ID Class Cohort Instructor : : : : : Le Thi Thu Trang 1511150128 English 25 – High-quality Class 54 Asso Prof Dr Trinh Thi Thu Huong Hanoi, June 2019 TABLE OF CONTENTS LIST OF ACRONYMS CRM SRM ISCM RFQ GDP SOEs FDI CSD RTD M&A VBA ERP APS EAI BPA 3PL 4PL EOQ POQ USD Customer Relationship Management Supplier Relationship Management Internal Supply Chain Management Request For Quote Gross Domestic Product State-owned Enterprises Foreign Direct Investment Carbonated soft drinks Ready-to-drink Merges and Acquisitions Vietnam Beverages Association Enterprise Resource Planning Advanced Planning and Scheduling Enterprise Application Intergration Business Process Automation Third-party Logistics Fourth-party Logistics Economic Order Quantity Production Order Quantity United State Dollar LIST OF PICTURES Picture 1.1: Structure of supply chain Picture 1.2: Model of manufacturer storage with direct shipping Picture 1.3: Model of manufacturer storage with direct shipping, in-transit merge Picture 1.4: Distributor storage with carrier delivery Picture 1.5: Distributor storage with last-mile delivery Picture 1.6: model of manufacturer or distributor storage with customer pickup Picture 2.1: Vietnam beverage distribution network Picture 2.2: Relationship between objects participating in transportation network LIST OF FIGURES Figure 2.1: Vietnam yearly population, 2015-2020f Figure 2.2: Nominal GDP and GDP growth in Vietnam, 2015-2022f Figure 2.3: Nominal GDP per capital in Vietnam, 2013-2022f Figure 2.4: Beverages consumption in Vietnam, 2015-2022f Figure 2.5: Beverages revenue in Vietnam, 2015-2022f Figure 2.6: Non-alcoholic drinks consumption in Vietnam, 2015-2022f Figure 2.7: Non-alcoholic drinks revenue in Vietnam, 2015-2022f Figure 2.8: Alcoholic drinks revenue in Vietnam, 2015-2022f Figure 2.9: Alcoholic drinks consumption in Vietnam, 2015-2022f INTRODUTION Rationale Recently, the Vietnam Beverage industry (refers to as Vietnam Beer – Alcohol - Beverage industry) has been one of the industries that make important contributions to Vietnamese socio-economic development Vietnam is currently rated as one of the markets with potential consumption of beverages According to EU –Vietnam Business Network, by 2020, the beverage consumption is forecasted to be over 109 billion liters The industry is characterized by a growing population as well as a rising number of middle income individuals For beverages in general, ensuring of quality and quantity of products in the process from input materials to delivering to final consumers is always a difficult problem for individuals and businesses Therefore, Vietnamese beverage companies need to find a partner that provides logistics services and supply chain, meeting all the strict requirements of beverage industry Moreover, foreign beverage companies have involved and expanded to Vietnam beverage market, creating a competitive environment It has put local beverage manufactures into certain difficulties due to limited budget and expertise in establishing brand names and supply chain Besides an increase in population, Vietnamese consumers are increasingly health-conscious It requires manufacturers starting thinking market offerings, which calibrate towards heathier product portlio such as products of natural origin, fruit juices or herbal teas The development of the tourism industry and retailing network in Vietnam also plays an important role in growth of beverages industry as they created further demands for high-end drink segments as well as improved the availability of beverage product lines through modern trade channels According to evaluation of Vietnam Beverage Association (VBA), recently, most of companies in the beverage industry have their own distribution channels However, the connection between businesses and businesses, between manufacturer and distributors to supply products to the market is very limited To compete with various foreign beverages corporations, develop production and circulation of goods, Vietnam beverage companies Vietnamese beverages enterprises need to join hands to complete an integrated supply chain between production and distribution to meet fully and promptly consumer demands Starting from that fact, and through the process of studying at Foreign Trade University and searching information of Vietnam beverage industry, I desire to choose the topic "Analyzing supply chain of Vietnam beverages industry” as my graduation thesis topic Literature review Analyzing the supply chain of corporations, pointing out the situation and proposing some recommendations have not been a new topic in recent years, especially when the supply chain increasingly represents its important role in minimizing costs, maximizing profits and enhancing competitiveness for businesses Therefore, the topic of supply chain is more and more interested, analyzed and selected as the topic of research on dissertations and specialized topics In recent years, there have been many research topics about supply chain analysis of businesses in general and enterprises in food and drink in particular Some reseaches are introducted as follows: Firstly, Sunil Chopra, Peter Meindl (2007) provided an understanding of all the key areas which are the strategic role of a supply chain, the key strategic drivers of supply chain performance and analytic methodologies for supply chain analysis; and their interrelationships This book gives us a conceptual understanding of supply chain and the various issues that must be taken into account when designing, planning and operating a supply chain The authors have researched and introduced the strategic importance of supply chain design, planning and operation for every firm Within the strategic framework, they have conveyed how the supply chain performance’s drivers (facilities, inventory, transportation, information, sourcing and pricing) can be used on conceptual and practical levels in a supply chain This book provides readers with practical managerial levers and concepts that may be used to improve supply chain performance Moreover, the authors present an understanding of analytic methodologies, which are used in each managerial context and support the managerial levers for improvement The strategic frameworks and concepts discussed in the book are tied together through a variety of examples and case studies to illustrate the diversity and importance of the supply chain in the global 10 economy Therefore, in general, this book and its researches are the theoretical basis for academic audiences to complete their research and for practitioners (firms and organizations) to develop their supply chain and supply chain management In particularly, thank to this book, I can complete chapter of my dissertation Secondly, in the report of Vietnam beverage industry in 2016 by EU-Vietnam Business network, the author analyzed overview of Vietnam’s economy by providing indicators and data of population, geography, gross domestic products, foreign direct investment and Vietnamese consumption habits from 2013 to 2016, and then point out the direction of Vietnamese economy and the movement of industries Moreover, it focuses on analyzing Vietnam beverage industry: current status, analysis of different drinks sectors’ development, market trends and some key growth drivers It has provided knowledge and information of not only consumers and distributors but also regulatory and legal framework at Vietnam beverage market Through collecting activities data of Vietnam beverage industry and then analyzing them, this report has introduced the overview of Vietnam in general and overview of the beverage industry in Vietnam in particular, given some case studies and competition analysis of Vietnam beverage companies This is basis for firms and organizations to research and develop their products as well as plan the strategies to take the competitive advantage in the global economy Thirdly, Handfield and Bechtel (2002) introduced a model to build key relationships between suppliers and buyers based on credibility, suppliers forced to invest in financial resources and human resources, buyers must consider contracts carefully to control the dependent level related to relationship The model that presents the dependent variable is the responsibility of the members in the supply chain, through independent variables, the level of trust and dependence on the buyer, the contract, the level of investment in fixed assets, human resources The authors also assume that all dependent variables are positively related to supply chain responsibility except the buyer's dependence through nine hypotheses The results show that even in cases where demand exceeds supply capacity, scarcity 60 is that medium and small beverage enterprises amount for a large proportion in Vietnam market that have not yet been able to participate in the global supply chain as well as dominate in the domestic market Morever, the big enterprises who have a very small proportion in quantity in beverage industry but a large proportion in revenue and sales volume are foreign invested corporations The pace of competition in beverage industry is more and more fierce and habit of traditional business in Vietnam makes domestic enterprises have not immediately kept up with the modern integration 61 CHAPTER 3: RECOMMENDATIONS TO IMPROVE SUPPLY CHAIN IN VIETNAM BEVERAGE INDUSTRY 3.1 Recommendations to Vietnam Government 3.1.1 Complete the system of policies and laws related to operation of Vietnam beverages industry Currently Vietnam does not have a legal document that directly regulates the operation of economic corporations, which make it difficult for economic corporations to implement their business Therefore, the Governments need to promote research and establishment of mechanisms and policies to facilitate the removal of problems for corporation and encourage the development of independent but collaborative business activities between corporations The legal system also needs to be improved, especially the law that regulated the scope of operations, thereby, to create a synchronous legal and equally competitive environment as a foundation of building strategic plans A complete and good legal system not only facilitates Government to manage and operate the activities of economic corporations but also support corporations to collaborate with each others and expand their business activities Moreover, recently, Vietnamese Government allows foreign companies to import and distribute products by being registered and having invested in Vietnam Foreign companies have poured their investment into Vietnam under many different ways Besides attracting direct foreign investment and taking advantage of that capital, the Vietnamese Government still needs to pay attention to activities and benefits of domestic enterprises with the aim of sustainable development in the long-term for Vietnam economy For example, one of the sourses of State budget is from tax Any business transactions in Vietnam shall be liable for value added tax (VAT) at 0-10 percent In beverage industry, special sales tax is applied to alcoholic products at the high rate As reported by PwC, from st January, 2018, special sales tax rate of spirit or wine with ABV equal or more than 20 degrees is 65 percent, with ABV less than 20 degrees is 35 percent; and of beer is 65 percent This is a significant distortion in economical decisisons of enterprises when entering into 62 Vietnam beverage industry Therefore, designing the policies that can balance the objectives and benefits between foreign enterprises and domestic enterprises as well as Government and enterprises is not always easy 3.1.2 Establish policies that promote logistics environment to develop In order for corporations to get closer to an effective supply chain, a developed logistics market will be a good stepping-stone Third party logistics (3PL) and fourth party logistics (4PL) enterprises should have opportunity to develop and become more professional and providing services more diverse Enterprises will be more fully aware of the logistics’ role in business operations so that they will gradually commit to or establish functions related to logistics and then complete supply chains in their strategies If there is a professional and effective logistics market, the supply chain design will no longer face many difficulties in investing, finding partners and establishing partnership Therefore, in addition to completing the legal provisions related to operations logistics, the Government also needs to have policies and incentives to support logistics enterprises to develop capacity and 3.1.2.1 promote connection between enterprises to crease competitive advantages Infrastructure building The problem of infrastructure in designing a supply chain is not only the difficulty of beverages enterprises but also of enterprises in other industries With the current infrastructure system in Vietnam, the implementation of transport activities will face many difficulties, especially the expansion of the operation network, which leads to a rise of transportation costs and difficulty of materials and goods transportation When the infrastructure is not properly invested, the favorable locations with large markets and various incentives cannot be chosen in the strategy of designing infrastructure network of enterprises Therefore, Government should prioritize to invest in infrastructure and improve the efficiency of capital use in such investment activities Vietnam infrastructure is weak and lacking, failing to meet Vietnam development needs Foreign direct investment poured every year into Vietnam has been increasing; however, a difficult problem is the inefficient use of those investments This inefficient use of infrastructure investment not only causes losses to the state budget 3.2 but also hampers corporation operations Recommendations to Vietnam beverage corporations 63 Through the above analysis, we can see the status of supply chain and ability of designing a supply chain of Vietnam beverages corporations We all understand that design of a supply chain is an essential step as well as a vital element for beverage industry Successfully established a supply chain suitable for corporations not only brings the benefits related to business results, but it also creates conditions for corporations to develop sustainably, especially in a recently fierce competition market as Vietnam beverage market It is not enough if the success of supply chain just exists in almost corporations in Vietnam, the communication and close cooperation between corporations are important factors to create a sustainable and effective supply chain In the context of globalization, the organization of business in the supply chain can create more favorable conditions and opportunities for factors involved to dominate and compete with other competitors in domestic market and penetrate into global markets, thereby create more sustainable steps in development and growth of Vietnam beverage industry in particular and Vietnam economic in general Depending on their own orientation and development objectives, each corporation selects a certain supply chain model This selection is considered basing on the internal and external factors such as accessibility, business situation, financial resource, information technology, and relationship of parties involved Therefore, there is no unique model or solution applied to all Vietnam corporations in establishing a supply chain This diversification explains why businesses in the same industry have different ways of building and managing their supply chains However, in situation of Vietnam beverages market, there are still common solutions for most corporations These are some basic solutions which beverage corporations can implement when projecting and developing a plan to design their own supply chain In order to establish a basic supply chain, the very first task needs to be completed is to consolidate four main components of a supply chain such as facilities, distribution network, transportation network and application of information technology When designing these four factors, the most important thing is to always keep the optimal direction of the entire supply chain and achieve the necessary harmony and coordination between those factors 64 Most of the beverages corporations, nowadays, their business according to the production model to reserve However, this model is no longer suitable, especially in the context of the current development technology; in addition, the demands of customers are quickly changeable Therefore, a push-pull supply chain could be good choice for Vietnamese beverage corporations Production based on forecasted demand will only be implemented at the first link; and for the final links, production will be delayed until customers make an order In that model, the infrastructure network should be designed in the direction of distribution centers to partially overcome the far-away distribution of production facilities within corporation and finished products can be delivered faster to final customers In Vietnam beverages industry, distribution centers which although have existed for recent years, have not yet been placed in an important position that they should be Distribution centers should be paid attention to their locations, coordination between locations, volume, capacity and other factors As I have analyzed on chapter 2, because Vietnam beverage corporations with medium and small size account a large proportion, instead of themselves undertaking the transport of their products, beverage corporations should use transport services of expert transport companies Therefore, selecting a transport company is important for beverages manufacturers to minimize their transportation cost and deliver to end user timely The final and critical issue of designing a supply chain is building communication and coordination system between partners All four elements of a supply chain in a corporation can establish but they cannot be able to fit together without collaboration between links 3.2.1 Build a strategic plan for a supply chain The very first step to establish a successful supply chain is that beverages corporation needs to plan an establishment strategy This strategy will show each step to be taken, the capabilities to be completed in a logical order to ensure each link is built accurately and sustainably It shall start from a company’s decision related to products, facilities (factories system, warehouses system, distribution systems), transportation and information technology The strategy can emphasize the capacity of enterprise to take on each link and create cooperative relationships between links Especially that strategy must be shared on to all businesses involved 65 in a supply chain; the business development policies must always support the strategy to come into reality 3.2.2 Plan to cooperation activities between corporations Currently, intrinsic of a corporation, the relationship between departments (or links) is not competitive due to the output distribution and corporation’s capacity It is obviously negative affect in establishing a complete supply chain Therefore, it is necessary to change the way the corporation operates, whose first change is to create competitive environment among links, departments, and facilities Moreover, Vietnam beverages corporations also need to create an environment or network to communicate and connect even the beverages manufacturers have been in a dynamic and fierce competition environment Each enterprise has its own advantages and disadvantages; therefore, the mutual system and long-term relationship among corporations strengthen their achievements and overcome their drawbacks Vietnam Beverage Association (VBA) is one of the channels for beverage businesses to capture each other's information as well as to share their achievements in supply chain establishment and management Moreover, corporations can become strategic partners, which will highly promote the exchange of information, and the development of synchronous and compatible information system In case that an enterprise is lack of resources such as finance, experience, technology, merges and acquisitions with bigger corporations can be the best method for them 3.2.3 Establish a small supply chain Based on the nature of facilities distribution of corporations and restrictions on transport and information systems, the establishment of small supply chain in certain areas may be the first but reasonable step In a certain region, it is simpler to get information, make the surveys and calculation as well as build relationships with suppliers, factories, distribution centers, truck fleets Completing a small supply chain will create a premise and get lessons in building a larger supply chain This is a reasonable and positive direction for small and medium beverage enterprises 3.2.4 A suitable partner in completing a distribution and transportation network 66 In the context of Vietnam beverages market, each segment has some big corporations dominate the market, the rest are medium and small-sized enterprises These enterprises not have enough resources to establish and operate a complete supply chain They focus on specializing production, building factories and completing the production process As a result, they need to take advantages of external resources by seeking and cooperate with other companies specializing in providing transportation services and distribution services A suitable partner will help beverages manufacturer to improve their facilities and transportation networks A successful cooperation is required two elements, which are sharing information and interests Information and interests sharing is the most important factor of every partnership, both internal and external collaboration The success in collaboration also depends on the ability of each corporation and partner to implement mutual agreements Appropriate partners must be partners who satisfy a number of criteria in supply chain The first standard is consistent with the overall goal of the entire supply chain, means that objective is to take advantage of all the resources to transport the finished products to the right consumers at the right time with the lowest cost There are some next standards such as strategy (scale, sales, technology, expertise, market position, and so on), cultural suitability (compatibility of people and corporation values, equality in relationships), organizational relevance (quick and full response of requirements about information, materials, flexibility and partner changes), and technological relevance (relevance and compatibility of partner information systems) After determining all criteria, the next decision made will be choice of partners and the level of collaboration Thanks to the development of Vietnam social and economy, for five years, in the all regions in the country, many companies providing specialized transport services, as known as logistics companies, have been established and showing its role in products flows moving, both in domestic and global markets Those logistics companies have established a system of means of transport such as trucks, ships, cargo airplanes, and train with different scales and volumes Vietnam beverages corporations can seek for and collaborate with one of those logistics companies who are responsible for all activities related to packing, storing and transporting or recalling goods including raw materials, components, semi-products and finished 67 products from one place to other places Beverages corporations can take advantage of wide network and availability of transportation facilities, systematic route and schedule All terms and conditions can be negotiated before reaching every agreement between two parties so that beverages corporations can get the best deal of transportation costs and enhance the ability of using appropriately their resources This solution can be suitable for manufacturers in general and beverages manufacturers in particular No matter the scale of enterprises and volume of goods are small or large; the transport companies always have their own optimal way to fulfill their responsibility of delivering to end users In addition, third party involved can undertake the responsibility of establishing and monitoring a warehouse system and a distribution center system There are a lot of intermediaries such as brokers and distribution agencies who specialize in gathering and distributing goods to all regions in Vietnam Instead of building more facilities leading to increase facilities cost; the beverages corporations can use national facilities system of those companies to store inventory, distribute their finished products to retailers before reaching to consumers In addition, those distribution agencies can be expert of getting customer feedbacks, sharing them with manufacturers and supporting to forecast produced volume of products Therefore, one agency can undertake different products from different corporations depending on their mutual goal and capacity This can create an effective and collaborative distribution network of supply chain in Vietnam beverage market 3.2.5 Design an effective information system within a corporation For each corporation, the critical task is to design an effective information system which facilities the business activities within whole enterprise For the corporations in which each subsidiary or each member can carry out a link in their supply chain, it means that those corporations have established a quite full supply chain without using outsourced services; the main and critical task is to design an effective information system For the corporations in which their subsidiaries can undertake a link in their supply chain, they need to complete their supply chain by collaboration with other partners along with design an information system The sharing information is an invisible connection keeping links close and smoothly 68 coordinated together Therefore, the selection of an appropriate information technology system not only creates a multi-dimensional information flow but also effectively supports the cooperation in the supply chain The most important thing in choosing and establishing an information system is the consistency in application and operation of all enterprise’s members The objective of the information technologies used is to present the characteristics needed in a complete supply chain that are transparency, flexibility and simultaneously Transparency is the ability to see through the entire supply chain Thanks to this feature, enterprises can monitor the status of transactions and resources in their supply chain, in both inside and outside environments An information system solution which can be used is enterprise resource planning (ERP) This is a model of information technology application to manage business operations, data collection, storage, analysis, interpretation As introduced by BRAVO, an ERP solution includes software and consulting activities with many functions applied for: management of planning, production or delivery cost; inventory and procurement, marketing and sales This solution brings a foundation for information visibility like inventory level by location For example, in Vietnam, ERP solution from BRAVO (as known as BRAVO software Joint Stock Company) is one of the most advanced and modern software with high-quality technology, flexible and opened system and cost savings As reported by BRAVO, based on characteristics of each industry in Vietnam ERP BRAVO (ERP-Vietnam) software solution can be effectively applied in beverages manufacturers This solution can be used to manage the activities of whole beverages corporation from business department, procurement department to finance – accounting department, administrative – human resource department; from factories and warehouses Flexibility is a combination of internal flexibility, supplier flexibility and high accuracy information usage Technologies that can be considered to be applied in corporations include portal, private network and advanced planning and scheduling (APS) The first technology is portal giving users immediate access to resources, and control over when and how they share information (Portals & Gateways references, 2006) A portal, commonly referred to as simply a portal, is a website or 69 service that offers a broad array of resources and services, such as e-mail, forums, search engines, and online shopping malls In addition, a private network is the next technology sharing the information about orders, forecast, status of inventory, and out-of-stock quantity The final technology can be advanced planning and scheduling (APS) This is an advanced production management system capable of optimally allocating materials and production capacity to balance actual demands and capacities Simultaneously refers to the ability to implement supply chain operations at the same time rather than sequentially As a result, all transactions are completed quickly from beginning to end without adding input, helping to respond customers faster and reduce transaction costs The necessary information is available for both internal operations and collaborative activities The technology priorities used in this case can be enterprise application integration (EAI) and business process automation (BPA) The enterprise’s application integration software uses middleware to integrate the application programs, databases, and legacy systems involved in important processes within a corporation Business Process Automation, or BPA, refers to the increasingly common types by seeking to simplify what are usually complex operations, and complete them in a convenient manner With all above technologies, they not require all the beverage corporations to have to apply the same Depending on the financial conditions and management experience and the level of cooperation between the corporations’ members, beverages corporations can make an optimal decision for their information technology solutions An effective and smooth information system in each beverages corporation will contribute to development of information system with whole beverages industry 70 CONCLUSION With the main objective is analyzing status of and suggesting recommendations to improve supply chain of Vietnam beverage industry, the topic “Analyzing supply chain of vietnam beverages industry” reported some researching results as follows: Firstly, the thesis pointed out status of supply chain and its components of Vietnam beverages industry Supply chain is the inevitable business development model in the currect global economic, in beverage industry in particular and all industries in general There are many different approaches to the supply chain but structural and flow-based approaches are the most available and popular In general, the supply chain is a group of three or more organizations that directly connect with one or more downstream (or upstream) flows of products, services, finance and information from a supplier to its customer The competition in Vietnam beverages industry is definitely competition of supply chain and supply chain management between beverages corporations As basis, the supply chain of beverage industry consists of six components such as raw material, production process, facility, inventory, transportation and information These four elements are designed and operated in unity as one An effective supply chain in this industry not only allows reducing the total costs but also facilitates corporations to select optimal methods of supply chain design as well as business cooperation with their partners Secondly, the topic mentioned evaluation of supply chain status of Vietnam beverages industry Besides some achievements related to improvement of transport capacity, increase in quality and scale of facilities and awareness of information technology; there are still limitations in planning strategy, operating and managing the networks in whole supply chain Actually, Vietnam beverage industry has existed supply chain models with elements structured; however, the models have not yet been operated effectively and synchronizedly due to lack of connection and collaboration among elements and weak internal force of beverage corporations Finally, based on those analyzes, the thesis suggested some recommendations to Vietnam Government (such as complete the policies and laws systems, establish infrastructure) and beverages corporations (such as build a strategic plan, increase 71 collaboration between corporations, design an informaion system and select a potential partner for distribution and transportation activities) If Vietnam Government and beverages corporations apply effectively these recommendations, supply chain’s structure shall be completed, which have a large impact on business activities of entities in Vietnam beverages industry Despite a process of research and analysis, the thesis remains inevitable difficulties and limitations such as not analyzing case study, practical examples of beverages enterprises; lack of methodologies such as interviews, surveys, and questionaires Those difficulities and limitations in the thesis can create a new direction for other topics in analyzing and improving supply chain not only in Vietnam beverages industry but also in other industries in Vietnam Therefore, the author appreciates suggestions and 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greater the success of the supply chain is The success of the supply chain should be measured from the profit perspective of the entire supply chain, ... practical basis of the supply chain in general and more specifically about Vietnam beverages industry − Analyze supply chain of Vietnam beverages industry and potential development of supply chain design