Innovation and Digital Transformation
Innovation
Develop at least 5 new product SKUs per year.
Continuously develop high-value-added and environmentally friendly products.
Develop and further enhance bio-based products and products that support the circular economy to increase product value and reduce environmental impacts.
Continuously foster research and development collaboration with educational institutions, government agencies, and business partners.
Digital Transformation
Reduce administrative expenses by at least 10% by 2029 compared with the baseline year defined by the Company through the implementation of Digital Transformation initiatives.
Invest a cumulative amount of at least THB 100 million in Automation and Process Modernization projects by 2029.
Expand the implementation of ERP systems and digital platforms to cover all subsidiaries.
Continuously develop data management systems to support data-driven decision-making.
Innovation
Further developed and expanded the Food Grade Lubricants & Greases product portfolio to serve the food and manufacturing industries.
Continued the development of bio-based products, including Bio-Transformer Oil and Bio-Rubber Process Oil.
Advanced the study and development of Re-Refined Base Oil (RRBO) and Used Lube Collection projects to support the circular economy.
Established innovation partnerships with ENTEC, NSTDA, Prince of Songkla University, Evonik, and Eco Atlas.
Digital Transformation
Successfully completed the implementation of SAP Phase 2 across all modules, covering finance, procurement, supply chain, production, and sales operations.
Installed cobot and robotic systems in production processes to enhance efficiency and reduce operational errors.
Continued advancing Automation and Smart Operations initiatives to improve operational performance.
Developed integrated enterprise data systems to support real-time management and decision-making.
Challenges and Opportunities
Innovation
Challenges
The Company must continuously develop new products and solutions that align with evolving customer needs, industry trends, and sustainability megatrends. This includes balancing product quality, operational performance, cost efficiency, and environmental impact.
Opportunities
Investments in technology, automation, and digital systems require substantial resources and the continuous adaptation of workforce practices. The Company must therefore enhance employee capabilities while effectively managing technology-related risks and ensuring information and cybersecurity resilience.
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Challenges
The development of high value-added, bio-based, and environmentally friendly products enhances business opportunities, expands the customer base, and strengthens the Company's long-term competitive advantage.
Opportunities
The adoption of digital technologies, ERP systems, automation, and data analytics enhances operational efficiency, reduces costs, improves decision-making accuracy, and strengthens the Company's future competitiveness.
Management Approach and Value Creation
Innovation
- Continuously monitor industry trends, emerging technologies, and evolving customer needs.
- Develop high value-added and environmentally friendly products.
- Promote collaborative research and product development with external organizations through an Open Innovation approach.
- Develop products that support the circular economy and contribute to greenhouse gas emissions reduction.
- Invest in innovation projects that create added value and generate future business opportunities.
Digital Transformation
- Drive the organization through Digital Transformation and Smart Operations initiatives.
- Develop and enhance ERP systems and fully integrated enterprise-wide data connectivity.
- Implement automation, cobot, and robotic technologies to improve operational efficiency.
- Promote the use of data to support strategic decision-making through a data-driven approach.
- Continuously enhance employees’ digital and technological capabilities.
- Improve production efficiency, supply chain management, and customer service through digital technologies.
Stakeholders Directly Impacted
