Competition Strategy Product Strategy IRPC underscores the importance of product research and development to design plastic pellets that offer solutions to new product requirements, application problems and/or ease of use issues. In addition to a wide range of plastic pellet products, HDPE, PP, PS, EPS, ABS and SAN, the company also operates plants to manufacture color compounds and to inject composites within the same industrial complex under the company’s management. Customers are provided with the added convenience and flexibility to ensure their exacting specifications, such as those for the manufacture of electrical appliance or automotive parts, are met. Moreover, the company has developed bio-composite products to meet the requirements of the end-user market that put high value to eco-friendliness. Price Strategy Prices of plastic pellets are linked to a range of external factors, from the costs of feedstock, like crude oil, naphtha, and monomers, to market conditions, demand and supply, domestic, regional, and global competition, product properties and government policies, etc. Therefore, IRPC prices its products based on these factors to ensure that the pricing is competitive, aligned with the market positioning of each product, and suitable for the geographical distribution area at any given time. Product and Service Quality IRPC’s plastic pellet products are designed and developed to ensure suitability for use in the manufacture of products in accordance with the required characteristics, functions, and specifications, and in compliance with any given standards. Quality checks and quality controls extend across the entire production process, from the acceptance of the feedstocks, during the production process, to product inspection and testing prior to delivery to the customer. In addition, IRPC has also adopted the “Customer Centric” principle to gain better understanding and take into consideration customer experience in the entire customer journey. Under our management approach as Solution Provider, we walk the customer through sales presentation, customer services, consultation on feedstock selection, production, use case testing, product development, problem-solving and a range of after-sale services to increase efficiency and quality to the finished goods as well as to ensure customer satisfaction and convenience. IRPC has continually developed and improved its internal processes in order to comply with the requirements of various standards that are widely accepted and required by customers, such as Quality Management (ISO 9001), Environmental Management (ISO14001), Occupational Health and Safety Management System (ISO/OHSAS 18001), Quality Management System for the Automotive Industry (ISO/TS 16949). The company has also received certification for the Standard for Corporate Social Responsibility (CSR-DIW) from the Department of Industrial Works for its plants manufacturing Ethylene, Polypropylene, Polyethylene and Polystyrene pellets. IRPC focuses on developing new markets in industrial segments with high growth potential, such as those relating to Medical & Healthcare, automotive industry, especially electric vehicles, and Electronics & Appliances, etc. 83 Structure and Business Operations of IRPC 56-1 ONE REPORT 2023
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