Digital transformation gets high priority in Betagro growth strategy
To tap growth opportunities in the Thai agriculture and food industry, Betagro has unveiled an aggressive restructuring plan to enhance the company's competitiveness in supply chain, digital technology, talented workforce and sustainability.
Vasit Taepaisitphongse, chief executive officer and president of Betagro Pcl, said currently the industry was impacted by various events like the ongoing Covid-19 pandemic, the Russia-Ukraine conflict, and the slowdown in the global economy. These factors had led to an increase in the production cost of goods and services and also brought about changes in consumer behaviour. Some more challenges, such as possible animal disease outbreaks, consumers' expectations of business contributions towards the environment and demand for safe and high-quality products and services still need close monitoring, he said.
With these challenges, it is the company's duty to find new measures and business models to maintain growth and increase competitiveness, Vasit said.
He added that as a leading member in the agro-industrial and food industries, Betagro has found out that digital transformation and investment in more research and development are the key solutions to those problems.
"We need to digitalise our company both on the technology side and on the management side. The focus will be on research and development to produce a variety of high-quality food innovations, biosecurity in production, and delivering new product alternatives to the market," said Vasit.
He added that this transformation would be done concurrently while expanding e-commerce distribution channels and forming collaborations with startup partners to improve competitiveness and sharpen focus on sustainable development.
Dubbed the “Powering Change” strategic plan, Betagro expects to drive business growth by combining all the forces in the organisation to drive internal changes, ensuring readiness to address impending challenges and contributing to economic and food security.
The strategic framework covers the development of supply chain resilience, especially in biosecurity and livestock, the deploying of digital technology to enhance efficiency such as smart farms, the improvement of people's digital skills, seeking business models through partnership, investment in more areas including technology and innovation to meet market demand, and prioritising sustainability of the community and environment.
