LG U+ to Hold "Supplier Proposal Day" Quarterly to Strengthen Mutual Growth Management
Published2017.07.11 10:55Planned to share part of operational costs saved through idea products with partner companies
LG U+ announced that it held a "Supplier Proposal Day" to strengthen mutual growth management with small and medium-sized partner companies.
Supplier Proposal Day is a mutual growth program where small and medium-sized partner companies propose ideas for developing affordable and highly efficient telecommunication equipment or solutions, and LG U+ guarantees purchases of a certain quantity or more of the adopted idea products after going through a review process.
At this proposal day, partner companies proposed various ideas in three fields: ▲telecommunication equipment and materials ▲construction (installation) ▲devices, and LG U+ adopted 9 ideas including cost-saving IP phones and NB-IoT-based circuit breaker monitoring devices.
LG U+ plans to apply the adopted idea products to actual networks and systems upon completion of development and verification, and to share part of the operational costs saved thereby with partner companies.
For example, if replacing an existing product with one developed by a partner company reduces the previously required cost of 10 million won to 9 million won, the payment of 9.5 million won for the product is made to the partner company that developed the product.
While equipment purchases through partner company idea proposals had occurred previously, implementing it as a permanent program is being done for the first time, and LG U+ has decided to conduct Supplier Proposal Day quarterly every year.
Kim Jong-seop, Director of Mutual Growth/Procurement at LG U+, stated, "We are actively supporting the realization of partner companies' ideas to strengthen activities that enhance competitiveness for both parties," and added, "We will strive to become a model case of mutual growth that satisfies social demands for co-prosperity between large enterprises and small and medium-sized businesses."
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