Discussion topic overview of vietnam dairy products joint stock company (vinamilk)

MINISTRY OF EDUCATION AND TRAINING THUONGMAI UNIVERSITY - - DISCUSSION TOPIC: Overview of Vietnam Dairy Products Joint Stock Company (Vinamilk) Group: 01 Class: 23149ENTI1011 Lecturer: Nguyen Thuy Linh  Ha Noi, 2023 CONTENTS I INTRODUCTION II VINAMILK COMPANY .4 2.1 The profile of Vinamilk 2.1.1 History of Formation and Development 2.1.2 Vision and mission 2.1.3 Core value 2.1.4 Logos 2.1.4.1 Old logo .7 2.1.4.2 New logo .8 2.1.5 Corporate and business strategy 2.1.5.1 Development strategy 2.1.5.2 Business strategy .10 2.1.6 Vinamilk dairy farm system 13 2.2 Structure 15 2.2.1 Organizational and managerial chart 15 2.2.2 Business field 21 2.3 Operations .22 2.4 Future development .24 III CONCLUTION 26 I INTRODUCTION When mentioning Vietnamese dairy companies, people will remember Vinamilk  first Vinamilk (Vietnam Dairy Products Joint Stock Company) is a Vietnamese company that specializes in the production and distribution of dairy products It was founded in 1976 and is headquartered in Ho Chi Minh City, Vietnam The company is the largest dairy company in Vietnam and accounts for about 50% of the country’s dairy market Vinamilk offers a wide range of dairy products, including milk, yogurt, and other related  products1 The company has been expanding its sources of ingredients, promoting investment, and conducting research on new products to provide optimal nutrition to the Vietnamese people In addition to strong domestic distribution with a network of more than 220,000 sales points covering 13 provinces and cities, Vinamilk products are also exported to 43 countries around the world such as the US, Canada, Poland, Germany, Japan, and the Central region East, Southeast Asia Vinamilk's mission is "Vinamilk is committed to providing the community with top quality nutrition and quality through our  respect, love and high responsibility to human life and society."  My team wants to give more useful information about Vinamilk that many of us may not know We have compiled this information through many official sources so that class members not only know more about Vinamilk but can learn how to become as strong as they are today Vinamilk is not just a company but also the pride of Vietnamese  people II VINAMILK COMPANY 2.1 The profile of Vinamilk  2.1.1 History of Formation and Development  Vinamilk has a history of over 40 years of formation and development with constant changes and efforts Despite being present in the Vietnamese market for a long time, Vinamilk's position in the Vietnamese dairy industry has not changed even though foreign dairy brands have flooded into the Vietnamese market in recent years In its over 40 years of operation, Vinamilk has gone through many different stages of  development Each stage marked new advances for the company, along with the stability of a large brand with a long history Formation period from 1976 to 1986 of Vinamilk  On August 20, 1976, Vinamilk was officially established with the initial name of the Dairy and Coffee Company in the South The company belongs to the General Department of Food Industry in the South In 1982, the Dairy and Coffee Company in the South was transferred to the Ministry of Food Industry and renamed the Dairy, Coffee and Confectionery Factory I The renovation period from 1986 to 2003 In 1985, Vinamilk was honored to receive the Third-Class Labor Medal In March 1992, the Dairy, Coffee and Confectionery Factory I, was officially renamed Vinamilk - a subsidiary of the Ministry of Light Industry The company specializes in the production and processing of dairy products By 1995, Vinamilk officially inaugurated the first dairy factory in Hanoi In 1996, Vinamilk partnered with Quy Nhon Frozen Joint Stock Company to establish the Quy Nhon Joint Venture Dairy Factory In 2000, Vinamilk was awarded the title "Labour Hero of the Renovation Process”  by the Government This is the period Vinamilk developed strongly when a series of milk factories were  built Vinamilk has expanded its production scale in all three regions: North, Central and South The period of equitization from 2003 to the present  In November 2003, the company was converted to Vinamilk Joint Stock Company Also in 2003, the company inaugurated additional dairy factories in Binh Dinh and Ho Chi Minh City In 2009, the company had developed 135,000 distribution agents, factories, and many dairy farms in Nghe An and Tuyen Quang provinces In 2016, the first dairy factory in a foreign country was inaugurated, Angkormilk in Cambodia and the milestone marks the 40-year journey of formation and development of  Vinamilk (1976 - 2016) to realize the "Vietnam Milk Dream" and affirming its position on the world dairy industry map In 2017, the Vinamilk Organic Dalat dairy farm, the first organic dairy farm in Vietnam, was inaugurated In 2019, the list was first published by Forbes Asia In particular, Vinamilk is the only representative of Vietnam in the food industry, stand beside with the big names of  the regional economy In 2021, celebrating 45 years of establishment in 2021, Vinamilk not only becomes the leading dairy company in Vietnam, but asserts its brand position on the international map The company climbed to top 40 world dairy producers with the highest turnovers (The UK-based Plimsoll Publishing Ltd) As of today, Vinamilk owns a system of 13 factories across the country This system of factories allows Vinamilk to develop over 250 types of dairy products in 13 product groups from condensed milk, liquid milk, powdered milk, yogurt, ice cream, soft drinks, etc 2.1.2 Vision and mission Vinamilk’s vision is "To become a world grade brand in food and beverage industry, where people put all their trust in nutrient and health products" Vinamilk  always provides people with one of the nutritional solutions according to international quality standards, helping all consumers to use and provide delicious, nutritious products that bring good value to the health of consumers today Vinamilk is currently leading the Vietnamese dairy market and is the most popular brand In addition, Vinamilk has affirmed its corporate mission to be: “Vinamilk commits to bring the communities the best-quality nutrition source that conveys our respectability, love and responsibilities for the people, life and society” This is a lofty mission that Vinamilk must truly be responsible for itself, for society, and for humanity to ensure that the company will deliver high-quality products to consumers in the best possible way 2.1.3 Core value Vinamilk aspires to become a product that is loved in every region and territory Therefore, Vinamilk always believes that quality and innovation are the company's companions Vinamilk puts customers at the center and commits to meeting all customer  needs The core values of Vinamilk include main values that aim to become the leading symbol of trust in Vietnam in the field of nutritional products serving human health:  Integrity: Vinamilk affirms that it is always honest and transparent in its interactions and transactions  Respect: The value of Vinamilk is reflected in the respect for oneself, colleagues, and the company At the same time, the company promotes respect for partners, cooperating in a spirit of trust and professionalism  Fairness: Fairness when working with employees, suppliers, or other stakeholders  Ethics: All employees of the company must comply with and preserve the established ethical values according to common standards  Compliance: Compliance with the law, code of conduct, regulations, and policies within the company The five core values above are considered to be the factors that build the corporate culture, motivate each member to work responsibly, and ensure the quality of output On the other hand, they also increase the ability to identify, create a deep impression for  consumers about the leading dairy brand 2.1.4 Logos The Vinamilk brand is an extremely memorable brand for customers The brand name Vinamilk is composed of two words: Vina and milk Vina is the symbol of  Vietnam's victory With the implication, this brand can overcome all hardships and challenges Milk in English means milk - the brand specializes in providing dairy  products such as yogurt, fresh milk, Since then, the Vinamilk brand has been affirmed as a Vietnamese milk brand This is a brand name with many profound meanings and great stature 2.1.4.1 Old logo The Vinamilk brand logo is a special combination of a letter symbol and a circle The circle of the logo symbolizes plumpness, fullness, protection and protection At the same time, it also symbolizes the perfection and integrity of the product's quality Inside that round block is the word VNM with a soft, flexible stylized design The lines surrounding the brand logo are the symbol of fresh drops of milk rich in nutrients This also implicitly demonstrates the promise to bring the most nutritious quality dairy  products to consumers The main colors in the brand logo are blue and white These two colors are harmoniously combined to create the most famous Vinamilk brand logo in Vietnam The  blue color of the logo is the symbol, representing trust, hope, and assurance of product quality White is the color that represents the color of milk drops, the color represents  product quality From the delicate and harmonious combination of milk colors, we can see the  professionalism and characteristics of dairy products At the same time, it also demonstrates the commitment to product quality that the dairy company provides 2.1.4.2 New logo It is known that on July 6, 2023, Vinamilk company officially launched a new Vinamilk logo design in a more youthful and modern style Vinamilk's new logo has been updated from an emblem to a wordmark with the following meaning and message: - The word "Vinamilk" is written in strong, generous handwriting, creating a feeling of strength and confidence This is a symbol of the new spirit of the brand - The smiley line on the dotted letter "i" represents the brand's friendliness, closeness and spiritual care - The image of a drop of milk in the letter "a" of Vinamilk and the words "Est 1976" remind of the values and achievements that Vinamilk has achieved during its operation - The main colors of the logo are "brilliant blue" and "sweet milk cream", creating a familiar yet impressive feeling The tropical color palette is inspired by Vietnam's rich culinary culture Overall, Vinamilk's new logo is simple, bold and impressive It represents the brand's confidence and unique identity, along with closeness and spiritual care towards consumers 2.1.5 Corporate and business strategy 2.1.5.1 Development strategy Vinamilk's Board of Directors determines a long-term strategic vision to orient  production and business activities Continuing to maintain the No position in the Vietnamese market and moving towards the goal of becoming one of the Top 30 largest Dairy Companies in the world in terms of revenue, Vinamilk determines a development strategy with main pillars to be implemented , include:  Leading in highly applicable innovation: The company continues to focus on the dairy industry and milk-related products, which is the core business that creates the Vinamilk brand such as fresh milk, pasteurized milk, powdered milk, condensed milk In addition, Vinamilk also continues to research and develop many new products with the purpose of innovating, expanding and diversifying the product portfolio based on the tastes and needs of consumers; At the same time, it brings consumers many rich and convenient experiences Some of Vinamilk's new dairy products are famous recently such as eating yogurt, drinking yogurt with a variety of flavors, baby food powder, dairy  products for adults, Vinamilk ice cream lines are also very popular attract a large number  of customers  Strengthening the leading position in Vietnam's dairy industry: Evaluating Vinamilk's results, in the Brand Footprint report on the Vietnamese market, Kantar Worldpanel commented "Vinamilk is once again recognized as the most chosen manufacturer in Urban (4 main cities) in consecutive years This domestic manufacturer has reached more than 80% of Vietnamese households thanks to advertising and communication activities that emphasize the nutritional value of their   products as well as constantly innovating their image with many customers New  products are launched to meet new consumer needs.” Vinamilk prioritizes focusing on exploiting the domestic market with huge development potential With a widespread consumer network, especially in urban areas, nearly 92% of consumers choose to buy Vinamilk products, much higher than other   brands in the top 10 In addition, this brand also Attracts new households in rural areas by continuously emphasizing brand image and value with investment in many high-end, healthy products such as organic products and nut milk … In addition, Vinamilk also promotes a focus on the high-end product segment with many added values, especially in urban areas In addition, the company continues to build a large and strong domestic distribution system, increasing market share and maintaining Vinamilk's leading position in the market  Becoming the dairy company that creates the most value in Southeast Asia: To become the dairy enterprise that creates the most value in Southeast Asia, Vinamilk is ready for merger and acquisition (M&A) activities and expands strong cooperative relationships with partners according to all three directions: horizontal integration, vertical integration and combination 10 Vinamilk's promotional videos are aimed at the target audience Children who love animation have achieved certain successes This is an extremely important step for  Vinamilk with its competitors Promotion is also a form of advertising for Vinamilk's products such as buying box of milk and getting mini puzzle free or buying bottles of milk and getting a lantern on the occasion of the recent Mid-Autumn Festival Vinamilk's distribution system is very well organized Vinamilk's distribution system has expanded to provinces, cities, towns, districts and communes of 23 Northern  provinces and cities, with more than 13,000 sales points and distributors throughout the region North For Vinamilk's retail locations as well as other direct distribution channels, when input material prices are high, the company can sell at high prices but customers still have to accept Therefore, Vinamilk can transfer disadvantages from suppliers to customers For agents, Vinamilk always has incentives for them to become close and loyal friends with its products If the contract is violated, the company will resolutely cut it off  to set an example for other agents Vinamilk subsidiary regulates sales and rewards agents depending on monthly or quarterly business results achieved 2.1.6 Vinamilk dairy farm system Foundation phase: 15 years since launching the first dairy farm in 2007 until 2021, Vinamilk has continuously invested in building a farm system according to international standards across the country After 15 years of launch, Vinamilk has built a system of 13 milliondollar farms across the country Since the 90s, demonstrating the pioneering role of a leading enterprise in the industry, Vinamilk initiated the "white revolution" - the dairy farming movement in Vietnam - by cooperating with farmers During this period, the business's leadership also 14  began implementing the strategy of building large-scale, concentrated dairy farms oriented according to international standards  Market expansion phase: In 2007, Vinamilk's first concentrated dairy farm was established in Tuyen Quang, marking an important turning point not only for Vinamilk but also for the dairy farming industry in Vietnam in general On the momentum of success at Tuyen Quang dairy farm, from 2008-2012, Vinamilk  continuously built dairy farms in the provinces of Binh Dinh, Nghe An, Thanh Hoa, and Da Lat Next, Vinamilk continuously imported the world's highest quality dairy cow  breeds from the US, New Zealand, and Australia to farms in Vietnam Not only does Vinamilk strive to create domestic milk raw material areas, it also shows its foresight and clear strategy when determining to build and operate farms according to the highest international standards, recognized by the world  Successful breakthrough stage: 2014 was a memorable milestone for Vinamilk in its efforts to become self-sufficient in raw materials for milk production At the first evaluation, Vinamilk Nghe An dairy farm met Global GAP standards This is also the first farm in Vietnam as well as Southeast Asia to meet this standard After Global GAP, this direction continues to be  pursued by Vinamilk when researching, investing, and building the first organic dairy farm according to European standards in Vietnam located in Lam Dong In 2017, Vietnam's first organic dairy farm meeting European organic standards recognized by the Control Union (Netherlands) was inaugurated, marking a new step in the formation and development of Vinamilk's raw material areas In 2019, Vinamilk inaugurated the Vinamilk Tay Ninh dairy "resort" and started construction of the 5,000-hectare Lao-Jagro dairy farm in the Xieng Khouang plateau, Laos Vinamilk's dairy "resort" model marks a new milestone with dairy farms being 15 invested and built as "resorts" and applying the most modern breeding and management technologies in the world  Stable development even during the COVID-19 epidemic: In 2021, in the context of COVID-19 greatly affecting life and production, Vinamilk's first Green Farms were officially launched, marking a new step on the journey of sustainable development  Not only expanding the number of farms, Vinamilk has achieved remarkable results  by possessing a "collection" of many international standards on dairy farming that any dairy business desires After 15 years of continuous investment and development, Vinamilk has built a system of dairy farms that meet international standards at home and abroad, moving forward to proactively source quality fresh milk ingredients to meet the demand for dairy products dairy products for both domestic and export markets Vinamilk's dairy farm system covers all over the country and abroad Including 13 farms in Vietnam spread across provinces such as Tuyen Quang, Thanh Hoa, Nhu Thanh,  Nghe An, Ha Tinh, Binh Dinh, Da Lat, Tay Ninh, Quang Ngai, Thong Hi-tech Farm Complex Nhat, Thanh Hoa (No and No 2), Vinamilk Organic Farm Da Lat (No and  No 2) Besides, we must mention the LAO-JAGRO Dairy Farm Complex; Vinamilk  Green Farm ecological farm system in Vietnam in Tay Ninh, Quang Ngai and Thanh Hoa Together with a huge herd of dairy cows of more than 160,000 cows, all have created for Vinamilk an extremely large milk output, specifically more than million liters of milk/day, providing a huge amount of milk to consumers According to the dairy industry development strategy for the next years, with a vision to 2030, 60% of the country's cow herd will come from concentrated farms Largescale farms, invested in modern technology and meeting world standards, will be the driving force for the development of the entire industry 2.2 Structure 2.2.1 Organizational and managerial chart  16 Finance At the present time, Vinamilk's business activities expanding into foreign markets are quite strong, with net revenue from foreign markets in 2022 reaching 9,252 billion VND, of which foreign branches reached 4,424 billion VND and Export reached 4,828 billion VND (according to Vinamilk's 2022 annual report) However, the proportion of revenue from foreign markets is insignificant in the total revenue of more than 60 trillion VND in 2022 Vinamilk chooses a capital structure with a low debt/total assets ratio, usually maintained at 30% or less, and this is a safe level In the past few years, this ratio has tended to increase due to the increased debt of Vinamilk to meet the needs of expanding  business and carrying out mergers and acquisitions, but in general, it is still within the level safe Specifically, Vinamilk has always maintained current liquidity above 1.5 and quick liquidity above 1.3 over the past years The main reason is that Vinamilk has a fairly abundant amount of cash As of December 2022, cash and cash equivalents are about VND 2,300 billions, accounting for about 4.74% of the total asset structure, and this is also the asset with the highest liquidity, helping Vinamilk be more active in  business activities than other businesses In addition, Vinamilk's profitability gradually decreased in the period from 2018 to 2022 Although revenue still grew steadily for five years, in retrospect, the cost of goods sold increased more strongly due to raw material prices Increased sharply, in addition to the disruption of the global supply chain due to the COVID-19 epidemic and the increased need for goods storage by countries around the world But in general, Vinamilk's profitability ratio is still considered to be at a high level compared to the gloomy economic situation during this period This is also a company with a high and stable cash dividend payout ratio, consistently above 70% in the period 2018-2022 Although during this period, yen cash flow from production and business activities decreased slightly due to frequent mergers and acquisitions during this period, plus after- 17 tax profits decreased slightly due to the epidemic situation Covid-19 caused Vietnam's dairy industry as well as the economy to fall into a period of slowdown  Human Resources, admin, PR Currently, Vinamilk has more than 15,000 officers and employees working in more than 30 units including branches, farms, factories, and subsidiaries across the country Of  these, about 70% of Vinamilk's employees have worked with the company for more than years In recent years, Vinamilk has also organized many talent training programs with more than 100 employees participating Up to now, more than 30% of employees have  been promoted to management level company In addition, the company also implemented a Human Resources Succession Planning program for key senior and midlevel positions to be ready for future development Vinamilk focuses on building welfare policies and human development to create dedication and connect personnel towards common business goals by setting goals and  plans to enhance a work-oriented environment to innovation and inspiration In  particular, the human factor plays a central role and is the main driving force to promote the successful implementation of set strategic plans With the orientation of becoming an "attractive workplace" in terms of culture facilities - welfare and efficiency, employees are guaranteed welfare and security issues while being connected, promoting their strengths, enhancing mental values and harmonizing work-life At the same time, focus on career development for employees   In addition, Vinamilk also creates a professional working environment with cultural respect and highly appreciates the comments of employees Here, all opinions are heard and shared freely Vinamilk's leaders not impose or force employees to follow a single  path The creativity and contribution of employees are encouraged to make the company more and more complete Besides, Vinamilk also contributes to many community activities such as strategies: million glasses of milk for poor children, million trees for Vietnam, Vinamilk Million steps, repelling Covid-19, This program is aimed at good purposes and 18 contributes many humane values to society and the community, both materially and spiritually, so it has great influence and receives support from the media and people nationwide One of them, "Million cups of milk, millions of happy smiles" is an online campaign with a special connection when both places for people to freely share their  happy and happy moments, Your family and it also helps you to be with Vinamilk and the higher milk fund of Vietnam to provide milk for children in difficult circumstances everywhere in the country So far, more than 37 million glasses of milk, equivalent to VND 163 billion have been sent to more than 460,000 children in special and difficult cases in 63 provinces  Dairy development  Leading the domestic market thanks to its quality brand and product portfolio: liquid milk, powdered milk, formula milk powder, yogurt, Vinamilk implements a 3-no  policy: no use of growth hormones, no Residues of antibiotics and pesticides and no  preservatives This helps consumers trust and feel secure when using the product Activities on researching ingredients, improving and standardizing testing methods are regular activities developed and implemented by Vinamilk's Research and Development Center, Food Safety and Production Operations Department In addition, Vinamilk also distributes national nutrition institutes and testing centers to build and complete testing  processes and methods, checking food hygiene and safety indicators Vinamilk's laboratory system fully meets the ISO/IEC 17025:2005 standard requirements In addition, other advanced environmental and energy management systems and production machinery are also applied to each manufacturer and Vinamilk's transformation regime to create limited products, keeping the same Nutritional value, no preservatives meet quality standards Vinamilk is the largest multi-channel dairy product distribution channel in Vietnam with more than 200 exclusive distributors, nearly 200,000 points of sale (markets, grocery stores, supermarkets, convenience stores ), more than 700 booths on electronic platforms… 19 In particular, Vinamilk's powdered milk and condensed milk products are present in more than 50 countries with the main markets being the Middle East and Southeast Asia, contributing about 9% of revenue  Marketing  Up to now, Vinamilk has been very successful with the Marketing Mix 4P strategy (Product, Price, Place and Promotion), especially the way the company takes advantage of online marketing channels to create content and communicate convey unique and creative messages to consumers In general, Vinamilk's Marketing strategy is to build a wide network, ensuring to  provide products directly to users as quickly as possible Vinamilk's dairy products have  become popular and easy to find throughout Vietnam due to the use of main distribution channels, the first channel is the supermarket system, from large supermarkets such as Coopmart, Big C to small supermarkets such as Vinmart, Family Mart, B's Mart The second distribution channel is key locations such as schools, hotels, and restaurants The final distribution channel is through agents with more than 220,000 stores in 63 provinces and cities in Vietnam These nationwide channels and distributors have brought Vinamilk products to every corner of Vietnam with the same quality Due to the development of e-commerce, Vinamilk also develops online stores and sells its products through online networks such as Shopee, Lazada,  Research and Development  During the process of construction and development, the Vinamilk brand has become familiar to domestic and foreign consumers with its diversity of product types and quality At the same time, Vinamilk also received many certifications for the quality of  raw materials, production processes and product quality that meet international standards 20 Vinamilk has equipped its dairy factories with many modern production lines originating from the US, Denmark, Germany, Italy, the Netherlands , especially the Binh Duong Super Dairy Factory with automatic technology 100% automation Vinamilk's product research and development department is capable and experienced, having cooperated with the world's leading research companies to bring to market top-quality products that suit customers' tastes consumers Some development  policies that can be mentioned include milk production with advanced technology, cooperation with the National Institute of Nutrition to research and launch the Probi live yeast drinking yogurt line, DIELAC ALPHA GOLD powdered milk  Production Vinamilk's milk production uses modern equipment and advanced technology to  bring the best products Fresh milk is harvested at Vinamilk farms where cows are located and the environment meets GLOBAL G.A.P standards to create a clean source of  fresh milk The milk is then transported to factories in the shortest possible time At factories, milk is processed with the most modern technology and automatic lines This  production process helps provide enough products to the market, reduce raw material costs and create quality products  Sales Vinamilk uses a combination of both traditional and modern sales channels: Traditional sales channels: Vinamilk distributes products to agents, then to retail locations throughout the country Modern sales channel: Vinamilk is sold in supermarkets in Vietnam Vinamilk  currently has three sales offices in Hanoi, Da Nang and Ho Chi Minh City The company has established 60 additional stores to introduce Vinamilk products To have such a dense network, Vinamilk's market development team has spent a lot of effort in finding and convincing each agent and store owner to help develop their   business 21  Supply chain Raw Material Sourcing: The supply chain begins with the sourcing of raw materials, primarily milk In the case of Vinamilk, they work closely with local farmers and own their own dairy farms in Vietnam to ensure a consistent supply of high-quality milk They may also source milk from other dairy farms, depending on the demand Milk Collection and Testing: After sourcing the milk, it undergoes collection and testing The collected milk is transported to collection centers or directly to the  processing plants At these facilities, the milk is tested for quality, including factors such as fat content, protein levels, and microbial contamination Processing and Packaging: Once the milk passes the quality tests, it is processed and transformed into various dairy products like milk, yogurt, cheese, and condensed milk Processing involves pasteurization, homogenization, and other necessary steps to ensure product safety and quality The products are then packaged in appropriate containers, such as bottles, cartons, or pouches Distribution and Warehousing: After packaging, the finished products are transferred to warehouses for storage Vinamilk maintains a network of warehouses strategically located across Vietnam to ensure efficient distribution From the warehouses, the products are dispatched to distribution centers or directly to retailers, including supermarkets, convenience stores, and wholesalers Retailers and End Consumers: The products reach the retailers, who make them available to consumers through their stores or online platforms Vinamilk has an extensive distribution network that covers both urban and rural areas in Vietnam, ensuring widespread availability of their dairy products Consumers can purchase Vinamilk products from various retail outlets to enjoy them at home After-Sales Service and Feedback: Vinamilk values customer satisfaction and  provides after-sales service to address any issues or concerns They may have customer  support channels, such as hotlines or online portals, where consumers can provide feedback, seek assistance, or make inquiries 22  IT  Vinamilk has used two information systems, ERP and CRM, to solve remaining  problems such as not being able to manage inventory, not having a monitoring system, having difficulty managing employees, and being dominated by many distributors, etc Thereby helping the business develop further, ensuring operational efficiency and affirming its brand position in domestic and international markets  Strategic planning  Vinamilk's Board of Directors determines a long-term strategic vision to orient  production and business activities Continuing to maintain the No position in the Vietnamese market and moving towards the goal of becoming one of the Top 30 largest Dairy Companies in the world in terms of revenue, Vinamilk determines a development strategy with main pillars to be implemented:  Leading in highly applicable innovation;  Consolidating the leading position in Vietnam's dairy industry;  Becoming the dairy company that creates the most value in Southeast Asia 2.2.2 Business field Vinamilk is one of the largest dairy companies in Vietnam and Southeast Asia Its core business activities include: Dairy Processing: Vinamilk processes and manufactures a wide range of dairy  products, including milk, yogurt, condensed milk, cheese, butter, and powdered milk Beverage Production: In addition to traditional dairy products, Vinamilk also  produces dairy-based beverages like fruit-flavored milk and coffee milk  Nutrition Products: The company produces various nutritional products, including infant formula, adult nutrition supplements, and specialized dairy products for different age groups 23 Dairy Farming: Vinamilk is involved in dairy farming and operates its own dairy farms to ensure a stable supply of high-quality milk Exporting: Vinamilk exports its products to many countries around the world, contributing to Vietnam's presence in the global dairy market Retail Operations: The company may also have its own retail outlets or partnerships with various retailers to sell its dairy products directly to consumers Vinamilk's products are also exported to a number of countries such as Cambodia, the Philippines, Australia and some Middle Eastern countries Export revenue accounts for 13% of the company's total revenue In 2011, Vinamilk expanded production activities, shifting to the fruit and vegetable segment Not long after the new product segment, the product line achieved success with 25% market share in the supermarket retail channel In February 2012, the company expanded production to juice products for  children 2.3 Operations The trading code on the Ho Chi Minh City stock exchange is VNM The company is the leading enterprise in the milk processing industry, currently accounting for 75% of  the milk market share in Viet Nam In addition to strong domestic distribution with a network of 183 distributors and close to 94,000 sales points covering 64 provinces and cities, Vinamilk products are also exported to many countries: America, France, Canada, Poland, Germany, the Middle East, Southeast Asia After more than 30 years of release In the eyes of consumers, up to now Vinamilk has built factories, one enterprise and is under construction Building new factories, with product diversity, Vinamilk now has over 200 dairy products sterilization, pasteurization and products made from milk Calculated by sales and output, Vinamilk is the leading milk producer in Vietnam Vinamilk's product portfolio, includes: main products are liquid milk and powdered milk;  products There are added values such as condensed milk, yogurt and drinking yogurt, ice cream and cheese Vinamilk also provides the market with a wide range of product categories, flavors and packaging options Since starting operations in 1976, the 24 Company has built a system The widest distribution system in Vietnam and has been used as leverage to introduce new products such as juice, soy milk, bottled water and coffee for the market Besides, Vinamilk also does business in other areas such as:  Trading in technological foods, equipment, spare parts, supplies, chemicals, and raw materials   Real estate business, land use rights owned or leased   Warehouse, yard, and transportation business  Internal transportation of goods by car to serve the company's production and  product consumption activities   Production and sale of wine, beer, non-alcoholic beverages, mineral water,  processed foods, tea, roasted-ground-filtered-instant coffee (not produced and processed at the headquarters)   Production and sale of packaging and plastic products (not operating at the headquarters); - Polyclinic (not operating at headquarters)   Cultivation and farming  Retailing sugar, milk and dairy products, cakes, jams, candy and products  processed from cereals, flour, starch and other foods However, there are some business segments of Vinamilk that are currently only in  business license, but actually stopped operating or converted shares to partners For  example, in 2006, Vinamilk Company entered into a joint venture with SABmiller Group to establish SABmiller Vietnam Company SABMiller Brewery located in Binh Duong, inaugurated in March 2007, launched the Zorok beer brand However, Zorok beer  appeared in the Vietnamese beer market for a short time because consumption only relied on milk distribution channels After only two years of operation, Vinamilk ceded all of its shares to SABMiller Vinamilk also established a subsidiary operating in the real estate 25 field, International Real Estate Investment One Member Company Limited, operating in the field of housing business, brokerage, real estate business, Renting warehouses, yards , with a charter capital of 160 billion VND, of which Vinamilk owns 100% of the capital However, according to Vinamilk's strategy of focusing on the main manufacturing sector, until the decision to dissolve in February 2014, the Company had not implemented any real estate projects Currently, Vinamilk's most prominent business segment is still milk, of which liquid milk accounts for 40% of revenue, powdered milk 22%, yogurt 16%, condensed milk  10% Vinamilk's dairy products all account for over 50% of the market share, with the  powdered milk product line alone accounting for 30% of the market share due to competition from imported product lines 2.4 Future development Vinamilk JSC is now the leading enterprise of the dairy processing industry, and is the 15th largest company in Vietnam After nearly 40 years of continuous innovation and development, Vinamilk brand has become familiar to domestic and foreign consumers 26  Not stopping there, currently, Vinamilk continues to assert itself with the spirit of  innovation and creativity not only in terms of production technology but also in terms of  Product Type Vinamilk products are always top quality according to international standards and meet the preferences of each group of users The Vinamilk Board of Directors defines a long-term strategic vision to direct  production and business activities Continuing to maintain the No position in the Vietnamese market and moving towards the goal of becoming one of the top 30 largest dairy companies in the world in terms of revenue, Vinamilk defines the development strategy with main pillars to be implemented, including:  At the forefront of highly applied innovation, focusing on dairy and dairy-related  products, continuing to research and developing many new products with the aim of  innovating, expanding and diversifying product portfolios on a basis that is in line with the tastes and needs of consumers Strengthen the leading position of Vietnam Dairy Industry, continuing to build a large and strong domestic distribution system, increase market share and maintain Vinamilk's leading position in the market  Become the most valuable dairy company in Southeast Asia, continuing to penetrate new export markets with the strategy of transforming the traditional export model of  goods into deeper forms of cooperation with distribution partners in new key markets 27 III CONCLUTION Vinamilk is the national brand of “Top 10 Most Valuable dairy brands globally” and “Top 36 largest dairy companies in the world in terms of revenue” Become a symbol of  Vietnam's leading belief in nutrition and health products for human life Products for   people, Vinamilk always brings you international quality nutritional solutions, meets the needs of all consumers with delicious, nutritious, healthy products associated with the leading brands in the market are popular Vinamilk is well aware of its influence on the community and the sustainable development of society The success of a business will not simply be the revenue figures shown in the annual reports, but also the outstanding and long-term values that it builds and brings to everyone 28