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Yuchai Awards Innovation and Benefit-making Projects with RMB 17 Million

Date:2017-04-11 Source:www.chinatrucks.com

www.chinatrucks.com: On March 28th, Yuchai held the Approval & Commendation Conference for Management Reform, Innovation and Benefit-making Projects to award 16 relevant projects in 2016 for their R&D and technological achievements with up to RMB 17 million. It is learned that the program for management innovation and reform is ready to give away prizes of over RMB 70 million in total from 2016 to 2018.

 
Yuchai Awards Innovation and Benefit-making Projects with RMB 17 Million
 
The awarded 16 projects this year, concerning organizational structure reform, cost-revenue management system innovation, business division’s structure reform, YCPS system building and inspection exemption and no-clean system, aim to restructure the overall process such as production, R&D, quality management and lean manufacturing. In addition, Yuchai particularly established the Management Reform and Innovation Mentor Awards to reward six foreign experts for guiding and planning management reform.
 
In the context of global economic slowdown and China's macro-control, it’s impossible for enterprises to maintain the momentum of sustainable healthy development by solely relying on experience and traditional operation model. With its intelligent manufacturing technologies and technical innovations, Yuchai has launched the reform- and upgrade-centered, market- and product reform-driven “second start-up” since 2014 by benchmarking against international bellwethers in the hope of improving quality and performance and outpacing the industrial front runners. More than 10 senior experts specializing in lean manufacturing, R&D, quality control, supply chain and HR from globally renowned enterprises such as Toyota and Cummins are introduced to Yuchai for guiding the development of internationally competitive products and management system.
 
Through the collision of ideas, thinking outside the box and revolutionary system reform, Yuchai has witnessed significant changes in management philosophy and process: an internationally competitive system starts to take shape with progressive achievements. Take organizational structure optimization for example, in 2016 alone, Yuchai Machinery Co., Ltd. cut off 79 organizations and repositioned 130 cadres while making benefits of RMB 270 million and raising the salary of front-line staff by over 10%; since the reform of marine & G-drive engine marketing model, the volume and value of sales has risen 37% and 55%, respectively. In the meantime, the total sales of marine & G-drive engine jump to the top of the industry in China. Regarding corporate performance, the operating margin of 2016 hits record high with the market shares of several segmented markets rising to first place; the orders of engine for 2017 also skyrocket and the sales of engine in Q1 is expected to increase by over 45% Year-on-year percentage.

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