With continuous business development in China, WACKER has entered into a new investment phase. In the next two to three years, WACKER’s annual investment amount in China is anticipated to grow by more than 50% every year. Accordingly, procurement spending will also increase significantly. Over the last few years, the company constantly intensified local procurement, increasing the share of local demand in WACKER’s overall sourcing in China from 71% in 2015 to 84% in 2017.
Centered on the theme of “Grow and win together”, the third WACKER Greater China Supplier Day event shared the company’s business prospects, targets and expectations to more than 60 representatives from 30 major raw material, equipment and service suppliers. The group’s digitalization program was also especially introduced to event attendees. This year, the best supplier awards went to nine companies, including Sinopec, Hoshine Silicon, BYC, China Nuclear Industry 23, Jiangsu Jiangjian, Sinotrans, AFW Hebei, Sebcorp Zhangjiagang and Schuetz Shanghai.
Ric Liu, Chief Financial Officer of WACKER Greater China, attended the Supplier Day event and said, “China is already an important sourcing market for WACKER from both a local and global perspective. In 2017, WACKER’s sourcing amount in China totaled 2.8 billion RMB, with an increasing share to serve the local operations’ needs. Meanwhile, Chinese suppliers also provide WACKER Group with key raw materials including silicon metal, acetic acid and VAM, and offer further opportunities for sourcing technical materials and services, such as mechanical equipment. WACKER wants to further strengthen its strategic cooperation with suppliers to continuously improve its competitiveness in terms of cost, quality, innovation capabilities and sustainability, and to grow together with its Chinese suppliers in the region.”
“Our goal is to establish a stable, sustainable and long term win-win partnership with our suppliers. WACKER’s expectations toward supplier relationships are not limited to quality, innovation capability, reliability and competitive prices, but also include a safety culture, compliance, sustainability, digital collaboration, and mastering challenges in the partnership in a harmonious way,” said Dr. Erk Thorsten Heyen, Senior Vice President of Procurement and Logistics who joined the event on behalf of the WACKER Group. “Over recent years, in addition to price competitiveness, Chinese suppliers have enhanced industrial value chains and increased their focus on customer service. We hope our Chinese suppliers will continue to invest in sustainability, thus paving the way for a win-win partnership with WACKER.”