Creating a Safety Value Chain
Value Chain
YOKE has made as much as 98.36% of its procurements locally for the past five years.
The primary materials that YOKE uses are steel and aluminum, which, after heat treatment, surface treatment, appearance modification and assembly, become the final products. Our industrial products are sold through our distributors across 45 countries in six major sectors. For personal products, YOKE offers ODM and OEM services for major brands around the world. YOKE has made as much as 98.36% of its procurements locally for the past five years. Our suppliers for primary materials and outsourced processing service providers are local businesses in Taiwan.
We operate on the management philosophy of creating safety value and through our investments in six major forms of capital inputs and relevant efforts made through different value-added activities in our operations. We hope to create short, medium and long-term safety value for all stakeholders through the outcome we achieve.
Financial Capital
Through outstanding operation and management capacities, we strive for optimal financial performance.
Natural Capital
Through various energy resource improvement projects, we have committed to reducing the input of steel, energy, water, and waste generation.
Manufacturing Capital
By pursuing optimal process efficiency, we aim to achieve optimal manufacturing efficacy and yield rate.
Intellectual Capital
We strengthened the application of high-strength materials and continued to obtain institutional design patents and product verification to boost the competitive advantage for our products.
Human Capital
Selection of suitable talents and commitment to employee growth and development while providing competitive wages and benefits.
Social Capital
By promoting the upgrade of local industries, we facilitate mutual growth for relevant sectors and give back to neighboring communities with the profit from our operations.
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 relation -
On-job learning
and growth -
Respect and assurance
for employees' human rights -
Responsible product sale
and safety commitments
| Capital | Input for 2020 | Output for 2020 | Outcome for 2020 |
|---|---|---|---|
| Financial Capital | ・Capital: NTD 912 million ・R&D costs: NTD 71 million |
・Annual turnover decreased by 24.16% ・New product turnover came to NTD 318 million |
The ratio of new product turnover out of total turnover reached a new height in the past five years at 13.44% and will become a driver for future growth. |
| Manufacturing Capital | ・Continued with quality system verification ・Promoted TPM project to reduce equipment maintenance costs |
・Accredited to 5 QA system/factory verification ・Reduced our monthly repair and maintenance costs by 45% compared to our target |
Through the promotion of the TPM project, we improved the competence of our personnel in autonomous maintenance, reduced equipment breakdown duration, and enhanced availability. |
| Human Capital | ・407 full-time employees ・Maintained the operation of the ISO 45001 occupational safety and health management system |
・The per capita output value came to 5.8152 million ・Average lost-time for each incident of disabling injury came to 2.6 days |
The promotion of our occupational safety and health management system in the last three years has significantly reduced the severity rate for disabling injuries, reflecting the effectiveness of relevant promotions. |
| Natural Capital | ・Promoted the ISO 14051 project for material flow cost accounting ・Invested in the acquisition of chip compactors |
・We were able to save approximately 140,000 kWh of power in 2020
We acquired chip compactors to compress the chips created in our production and recycled 8,640 liters of cutting mixture to be reused
・Became accredited to ISO 14051 standard for material flow cost accounting |
We achieved considerable success in waste reduction and through recycling, reuse and cutting consumption, we were able to lower our consumption of resources and reduce the amount of waste that was generated during our production. |
| Intellectual Capital | ・Developed relevant management system to be integrated with our SAP ERP ・We submitted a total of 38 patent applications |
・Optimized and digitized R&D processes for 30 categories ・Increased our effective projects to 185 in 2020 |
By system integration and process improvement, we were able to shorten the lead-time for product development. In addition, the turnover for our new products in the 2020 N-series had not been affected by the pandemic and grew by a small margin of 0.79%. |
| Social Capital | ・Our total amount for local procurement reached NTD 830 million ・Invested NTD 180,000 towards the promotion of Sustainable Elementary Education Support Initiative |
・Percentage of localized purchases in past five years exceeded 98% ・Donated approximately NTD 1.7 million to charity and welfare organizations in 2020 ・Continued to collaborate with three elementary schools in Taichung City to promote safety education |
Since YOKE products are primarily concerned with safety, we were able to connect our charitable effort of promoting elementary education to our main line of business. |
