FY2014: Significant improvements amid challenges
We recently caught up with William Chu, Regional President, Avnet Technology Solutions Asia Pacific. The executive talked about the latest and greatest at Avnet William happily shared the news that the company had made tremendous progress during the fiscal year 2014 ,with notable accomplishments including improved quality of revenue and revenue growth, six consecutive quarters year on year performance improvement, improved operating performance of business business unit and increased value to the market place.
On the subject of Avnet’s footprint expansion in the region, Chu said that Avnet continues to evaluate M&A opportunities that fit Avnet’s strategies but remains prudent with decisions on where the company put its investment. Avnet has grown its footprint in the Asia Pacific region with acquisitions of companies like Azure in Singapore and Malaysia, OnTrack Solutions in India, Sunshine in Vietnam and PT Datamation in Indonesia. Chu said that Avnet is now moving into another stage whereby it is investing in new strategic areas such as cloud, big data and security and networking.
Strategic Priorities for 2015
Going forward the current fiscal year 2015, William elaborated on Avnet’s strategic priorities for FY2015.
Firstly, William highlighted the importance of achieving organic growth in new segments. Currently there are several growth areas, including cloud, security and networking solutions, services and linecard expansion into the global markets.
Secondly, Avnet’s regional president highlighted the importance of delivering better products and services in the existing segments, which can be achieved through collaborations with more channel partners and improving Avnet’s resold services.
Last but not least, Chu said Avnet plans to improve its productivity in the coming year. There have been continuous efforts from the corporate to help improve efficiency; for instance, Avnet currently has implemented the Supply Chain Operations Reference model (SCOR) which measures the efficiency of delivery of each order, which would in turn help optimize the company’s go-to-market and fulfilment process. In addition, the company also looks to invest in better IT so as to improve customer services.
To meet these objectives, William emphasized the importance of having engaged and motivated employees. Avnet recently launched its Employee Opinion Survey which collects feedback from the employees and provides a blueprint for better employee engagement. Avnet Asia Pacific has also started offering their top performers with incentive trips. Lastly, Avnet is also working together with the suppliers to provide sales and technical training as part of the enablement program, so its employees can deliver better services with confidence.
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