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Uniting Electronic Parts Vendors Enhancing Competitiveness to Join Supply Chains

Posted: Friday, May 11, 2018

The world economy experienced three strongly influential industrial revolutions that changed the world’s manufacturing and development. The Fourth Industrial Revolution is being driven by the Internet of Things (IoT), artificial intelligence (AI), 3D printing, nanotechnology, biotechnology, material science, autopilot vehicles and quantum computers that enable cyber physical systems across the globe to be integrated tightly and flexibly. This has led to changes in the way that world economies and societies function. Industrial production requirements are changing rapidly owing to the rising demand for tailored products. In addition, companies must make more competitively priced products.

Changes in production practices caused by the Fourth Industrial Revolution have resulted in the current global labour market. International labour division is expanding and deepening. New manufacturing methods are created to utilise scientific and technological advances to increase labour productivity. The role of the electronics industry becomes very critical because artificial intelligence (AI) is a component of the digital world in the Fourth Industrial Revolution.

This computer science involves automation of smart behaviours. Powered by the worldwide internet connectivity, the internet of things is becoming an important instrument that provides innovative services and applications. Electronics will play a leading role in creating new values in production and distribution chains.

According to the World Economic Forum’s Readiness for the Future of Production Report 2018, conducted in more than 100 countries, Vietnam is ranked unready for the Industry 4.0. This poses a number of issues which need to be promptly tackled for Vietnam, and improving the quality of human resources, among other things, is a matter of concern.

The Fourth Industrial Revolution provides the foundation for the formation of two new types of core human resources: Performing and creative. The labour market will increasingly focus on high quality human resources. In addition to professional knowledge, soft skills and creativity are needed to work in big companies that continuously innovate to create high value-added products and services. Also according to the 2018 WEF Report, Vietnam ranked 77th out of 100 countries by innovation.

In this context, the Government must attach importance to developing market-oriented incentives to facilitate businesses to bring their capabilities into full play and step by step improving the institution to support national production development strategies; improving skills for workers; promoting career guidance for youth. They need to deploy robots to accelerate production automation and apply technological solutions to management, production management, and innovation in business model to raise labour productivity, attract talents and facilitate them to boost creativity.


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