R&D Effectiveness Performance IRPC has measured R&D effectiveness in terms of the incremental margin of a new product aged 3 years per R&D investment involves calculating the incremental margin generated by the product after three years and comparing it to the R&D investment made in that specific year. This concise measurement process ensures that the financial impact of R&D investments, reflecting a successful and efficient utilization of resources in research and development activities. The Analytical Center and Laboratories The Analytical Center and Laboratories (AC&L) plays a vital role in supporting IRPC’s core businesses. The AC&L works closely with internal departments to ensure the quality of products and support the smooth production process.The AC&L is committed to providing world-class analytical and testing services. The center has invested in state-of-the-art equipment and has a team of highly skilled and experienced professionals. The AC&L is also accredited to ISO/IEC 17025, which is an international standard for testing and calibration laboratories.In addition to supporting IRPC’s core businesses, the AC&L also generates revenue for the company by providing analytical and testing services to external organizations. In 2023, the AC&L generated 14 million baht in revenue, which is the highest revenue since the center began providing services to external organizations. Open Innovation The IRPC Innovation Center also uses open innovation to accelerate the success of its innovations and identify new business opportunities. Open innovation is the process of creating new businesses through collaboration with external experts. The center uses two main approaches to open innovation: • Strategic partnerships: The center partners with universities, research institutes, and other organizations to develop new technologies and products. For example, the center has partnered with Mahidol University and the Electricity Generating Authority of Thailand (EGAT) to develop new energy technologies. • Outsourced funding: The center provides funding to external organizations to conduct research and development. For example, the center has provided funding to the Innovation One Fund, which is managed by the Federation of Thai Industries, and the National Science and Technology Development Agency (NSTDA). 121 Business-Driven Sustainability 56-1 ONE REPORT 2023
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