Value Chain
Value Chain
The primary materials that YOKE uses are steel and aluminum, which, after heat treatment, surface treatment, appearance modification, and eventually assembly, give rise to the final product. In terms of product sales, we enhance our brand image by attending a well-known tool shows around the world. Our industrial products are used in various applications in six major sectors, with distributors located in 48 countries around the globe. For personal products, YOKE offers ODM and OEM services for major world-famous brands, with the highest market share as of this report. To promote the growth and upgrade of local industries, YOKE has done more than 95% of its procurements completely locally for years. Over the past three years, in particular, it was up to 98%. In other words, its primary material suppliers and outsourced processing service suppliers are consistently local companies in Taiwan.
YOKE operates on the prioritized management belief in creating safety value. By investing in six major forms of capital and efforts made through various types of value-added activities during the operation process, YOKE hopes to create short-term, mid-term, and long-term safety value for all stakeholders through the rendered outcome.
Capital Investment
By investing in six major forms of capital and efforts made through various types of value-added activities during the operation process,
YOKE hopes to create short-term, mid-term, and long-term safety values for all stakeholders through the rendered
Financial Cpital
The funds and shareholder's equity obtained from financing and operations are effectively invested to render optimal financial performance through optimal cost control capability.
Natural Capital
Steel devoted to and energy and water used during the manufacturing process: Through various operational value-added activities, the most effective way to use the devoted energy and resources is sought in order to reduce waste.
Manufacturing Capital
Lean management is applied to the various types of manufacturing capital such as premises and respective equipment for optimized process efficiency, maximized product yield rate, and the most appropriate use of equipment.
Intellectual Capital
Years of expertise in developing hooks are combined to remain devoted to the research and development of product materials, patents for hook designs, and product qualification in order to strengthen the competitive advantages of products.
Human Capital
Suitable talents are screened through various types of recruiting events. By means of educational training, colleagues are able to develop respective occupational skills and continue to have their personal qualities and capabilities strengthened.
Social Capital
Promoting local industrial upgrades is YOKE’s management belief. Educating suppliers and increasing the procurement value are proactive acts to promote shared industrial growth. YOKE also gives back operational fruits to the surrounding communities.
Operational Value Addition
-
Technology:Product Research and development
YOKE promotes the development of high-strength steel to reinforce product safety specifications while reducing material consumption during the manufacturing process. We also continue to engage in product researches and develop patents so that we can manufacture products that are compliant with pertinent safety regulations with more competitive materials and technologies.
-
Product:Safety Qualification
We pay close attention to product safety regulations in major countries around the world and impose strict requirements to ensure that our product quality is compliant. In addition, we also implemented relevant verification procedures to make our products safer for our customers.
-
Process:Joint-effort in Lean Production
Through projects such as CIT, 6S, and supplier support along with the introduction of VSM, we were able to refine our processes, boost productivity while avoiding unnecessary waste of resources and precious time to enhance profitability for the Company and our collaborating partners.
-
Marketing:Customer Service
YOKE serves customers across the globe and to provide products and services in the timeliest manner, address complaints quickly to troubleshoot for customers, the Company takes part in shows and takes advantage of the distribution model of WDC. On top of that, we also promote our RFID-assisted equipment inspection management system as a way to create greater value in our customer service.
-
Organization:Strategic Organizational Adjustment
The organizational structure is adjusted reflective of the current operational status; the R&D Department has been strategically adjusted to the central level for reinforced research and development communication and management. In addition, specifically for the needs of distributors, a technical support department (FAE) has been added so that the efficiency and content of customer services may be enhanced.
Issues of Concern
-
Business ethics in good faith
-
Sound corporate governance and financial performance
-
Traceability and localized purchase
-
Effective use of energy/resource in production
-
Waste processing and improvement
-
Safety and health in the work environment
-
Fair and reasonable employer-employee relations
-
On-job learning and growth
-
Respect and assurance for employees' human rights
-
Responsible product sale and safety commitments
Value Generation
| 2018 key indicators | Capital category | Accomplished or not | Goals Set for 2019 |
|---|---|---|---|
| 100% of complaints were resolved | Manpower | ✔ | 100% of complaints were resolved |
| 0 corruption-related event | Finance | ✔ | 0 corruption-related event |
| 0 violation of environmental regulations | Nature | ✔ | 0 violation of environmental regulations |
| 0 violation of social/economic regulations | Social | ✘ | 0 violation of social/economic regulations |
| 0 violation of labor regulations | Manpower | ✔ | 0 violation of labor regulations |
| Operational management meetings are held on a monthly basis | Finance | ✔ | Operational management meetings are held on a monthly basis |
| Completed development of manufacturing technology for large sheave system | Intelligence | ✔ | |
| 100% product safety certification as per customers' requirements | Intelligence | ✔ | Completion rate of PLM system introduction >90% |
| 100% compliant product labeling as per customers' requirements | Manufacturing | ✔ | Zero violations of pertinent regulation or non-conforming product labeling as required by customers |
| Maintain localized purchases at above 98% | Social | ✔ | No. of social responsibility commitment signed/No. of project completion>50% |
| Save power consumption by 1% compared to 2017 level | Nature | ✔ | Reduce power consumption by 1% compared to 2018 level |
| Waste iron recycling volume per unit of production below 210 (Kg/million dollar of revenue) | Nature | ✘ | Complete the implementation of ISO 14001 system |
| Adequate provision of pension reserve and pension fund according to labor regulations | Manpower | ✔ | Adequate provision of pension reserve and pension fund according to labor regulations |
| Hiring of Taiwanese residents for 80% of the workforce | Social | ✔ | Employees of native citizenship with 3-5 years of job seniority/total number of local employees >30% |
| Exceed 1.2 times the minimum salary | Manpower | ✔ | Overall average employee satisfaction >3.7 |
| 87% accomplishment of the recruitment rate | Manpower | ✔ | New employee retention rate >70% |
| 100% of employees retained for one year after reinstating from unpaid parental leave | Manpower | ✔ | monthly turnover rate <20% |
| Direct-to-indirect employee ratio >1.5 | Manpower | ✔ | Direct-to-indirect employee ratio >1.75 |
| Female-to-male salary ratio above 0.9 | Manpower | ✔ | Female-to-male salary ratio above 0.9 |
| Notified employees of major operational changes in advance according to law | Manpower | No related occurrence | Notified employees of major operational changes in advance according to law |
| 0 case of discrimination | Manpower | ✔ | 0 case of discrimination |
| Implement an experience-sharing mechanism | Intelligence | ✔ | Average training per employee came to 25 hours |
| Complete the construction of TOSHMS | Manpower | ✔ | Completed the construction of ISO 45001 system |
| Disabling injury frequency rate (FR) lower than 5 | Manpower | ✘ | Disabling injury frequency rate (FR) lower than 5 |
