Chairman of Fwusow Industry Hung, Yau-Kuen
Fwusow Industry has come a long way over the past one hundred years. From the first generation’s belief in business integrity to the second generation’s perseverance, these are the backbones pushing the third generation to transform and steering toward a sustainable business. In the recent years, Fwusow Industry has been actively expanding our scope of business and pursuing vertical integration to diversify strategically. We actively cooperate with the government in purchasing locally grown grains to create an agri-food circular economy. At the same time, we incorporate artificial intelligence into our business units to accelerate our process to a “smart factory” corporation.
In 2019, with the ongoing US-China trade war, the global economy sustained a slower growth. At the same time, we also faced the challenges of commodity volatility, the risk of high raw material costs, the global climate changes, and the outbreak of African swine fever virus and avian flu epidemic. These issues created a tough and difficult environment for our business. Fwusow Industry swiftly tackled these hardships with the concepts of ‘seek change amid stability, steer steadily toward success’. With the efforts of our employees, we reached not only the annual targets in 2019 but with substantial growth compared to the prior year.
To lay out the foundation of the beginning of a new era at Fwusow Industry, in 2019, we initiated and implemented three business strategies. They are ‘transformation’, interdisciplinary training’ and ‘green business’. We hope with our corporate culture, the innovative thinking and the smart factory would be the driving force for our business transformation.
Transforming into the smart factory
In 2019, Industrial Technology Research Institute, ITRI, assisted us in building the data application integration platform, oil mill smart sensor management system, and Institute for Information Industry, III, designed and completed Fwusow App for managing the sales orders and inventory with real-time data. With all these new additions, we are creating a digital era and a new generation for Fwusow Industry. In 2020, we will be incorporating AI technology into data security, factory safety, and transportation processes to further ensure product quality and business efficiency.
We have a group of employees, ‘AI-seeded’, that are receiving educational courses in various fields of AI. We invited scholars and professors from ITRI, III and Feng Chia University to speak on a wide array of AI-related courses. Through this talent development, we hope to build a foundation toward the goal of globalization in the future.
Implementing green business
We constructed an agri-food circular economy business model, and we are the first food manufacturing company to be certified of the SGS「BS 8001:2017」with optimizing business model maturity. Bearing green business in mind, we continue to expand and gear our business units toward the practice of circular economy; we hope to achieve a sustainable Fwusow Industry.
In 2019, Fwusow Industry received numerous awards and recognitions, which included Asia Pacific Entrepreneurship Award (APEA), 1111 Happiness Corporate Award, and Taiwan Academy of Corporate Sustainability (TCSA) “2019 Taiwan Corporate Sustainability Awards” – Bronze. Through the effective and continuous communication to gain different perspectives, the skill developments, and the equipment upgrades, we will transform Fwusow Industry to an eco-friendly, sustainable business for the communities and the stakeholders.