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31 July 2023

Exploring New Businesses Through Creative Strategies

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Goodrich Global is always exploring new businesses for robust global outreach.

A restructured Goodrich Group sees the organisation pursue an optimal model in each country’s market and strengthen the profitability of its overseas business. A review of existing systems in its regional branch offices for their performance and growth expectations is essential to build a strong organisational structure in each Southeast Asian country.

The Group has established local subsidiaries in Vietnam and in Thailand in 2020, in line with its expansion plans to formulate strategies that are closer to the region. For greater efficiency, corporate presence and management in the Asian region, Goodrich Global Holdings is responsible for the Southeast Asian market. 

The restructuring facilitates the implementation of strategies in each region at a deeper level as well as strengthening the business for the Group.  The China and Southeast Asian markets are unique by merit of their local functions and service expectations which depend greatly on variables such as industrial structures and service values.

Building a local business model helmed by a strong management team based in each country is more advantageous for the Group, to develop optimal product strategies for each market. With this strategy in motion, it aims to increase earnings in these markets respectively.

SANGETSU GOODRICH IN THAILAND AND VIETNAM

The regional offices in Thailand and Vietnam are operating under the business banner:  SANGETSU GOODRICH.  They are both focusing on the sale of interior furnishing products and services as well as their designs and construction services. Goodrich Global aims to further develop the local market as it leverages on Sangetsu Goodrich’s growing market presence in Thailand.

Wallcoverings, carpets, fabrics and floorings are popular interior furnishes often used by our esteemed B2B (offices, hotels and resorts) clients. As such, the companies are working towards strengthening product capabilities such as design, and applications to drive sales from the interior design market at large.

OPTIMISE PRODUCT STRATEFIES FOR EACH OF OUR 11 REGIONAL COUNTRIES

The Goodrich Group’s business model has been to first select suitable product lines at its headquarters in Singapore and then sell them to the Southeast Asian countries through its branch offices. The company embarked on creating a new look for its product sample books, which essentially include products that are sold by all companies in the Goodrich Group. There are assigned product development managers in each country to focus on developing local products that have a higher sale potential.

By balancing the number and quantity of inventory for the Goodrich Group’s common products and local products, it will promote the efficient use of sample books. The improved sample book and more OEM assortment can be used in all countries serviced by the Goodrich Group in overall sales processes and offers the following benefits:

Realise efficient inventory distribution by holding common inventory in each country
Conduct specification activities across countries by configuring a product composition that satisfies all the design specifications of each country

Enables the execution of specialized sales strategies for each country; for example, high-end products in the Southeast regions and north asia.  Also leveraging the manufacturing capabilities of our sister company like Koroseal and buying capabilities of our parent company: Sangetsu to collaborate with leading interior brands for better cutting-edge designs and competitive pricing. 

WINNING PROJECTS THROUGH CUSTOMISED SOLUTION PROPOSALS

Beyond its valued engineering proposals for wallcovering, Goodrich Global actively engages in public relations (PR) activities such as mockup constructions to extend its product reach beyond wallcovering in hotels.

A winning proposal by Goodrich Global entails a complete and custom design solution that combines products, procurement, and installation.

In outfitting the Shimano office and showroom in Singapore, the proposal presented by its product and installation team allows the client to recognise the products’ capabilities in terms of feasibility, functional design, and cost-effectiveness.

Using the framework of mock-up constructions, Goodrich Global continues to engage in PR activities while leveraging on the Group’s wide range of product appeal and expertise in interior design materials, including procurement and installation solutions.

CHARTING THE BAR HIGH AS WE SEEK NEW OPPORTUNITIES

Goodrich Global is committed to setting the bar high and pushing ourselves to innovate and reach new heights. We strive to create unique opportunities for ourselves and our colleagues, and to use our resources and skills to make a difference in the world. We believe that with hard work and dedication, anything is possible.