企業之水平垂直整合之策略分析-以TFT-LCD個案公司為例

Abstract

TFT-LCD產業處於快速成長及高度競爭的環境。平面顯示器產品除了面臨市場價格的大幅跌價以及成本競爭的壓力，再加上供給與需求失衡所造成的險惡環境下，TFT-LCD廠商在面對以上這種高難度挑戰，如何能獲利幾乎讓全球的面板廠絞盡腦汁。為了達到企業永續經營的目標，在此前提之下，除了強化公司內部體質及整合外部資源，從垂直整合以降低材料成本，採購在地化，水平整合將產能擴大以達到經濟規模，將整個供應鏈的價值已經發揮到淋漓盡致。 早期較偏向同質性的購併，目的是將經濟規模做大，然而大者恆大已是TFT-LCD產業過去的思維，從過去幾年各大面板廠求經濟規模，到現在合併案則比較偏向互補性強的合併，目的是做強。本研究探討影響面板廠商從垂直整合，水平整合到策略聯盟以及多角化經營關鍵成功因素的探討，但是公司要合併成功並非易事，不論是企業文化、經營管理，甚至供應鏈重整、客戶認同，在在都挑戰經營者的智慧。本研究以友達光電為例，從產業特性及公司高階主管訪談中歸納出幾個重要關鍵因素，及建議未來發展方向。

TFT-LCD industry has become the new rising star in Taiwan right after semiconductor industry because of its fast growth and high revenue behavior. However， this industry is characterized by sensitive supply-demand unbalance and face to price erosion. At this thesis， the profitability of the panel makers seems almost impossible. In order to survive and sustain continuously， panel makers need reallocate their resource， internally and externally， to supply chain， with vertical integration， and joint efforts of members in the supply chain. Hence， the material and the manufacturing cost can be reduced. The overall supply chain can get benefit even under the competitive price erosion situation. This study focus on the strategy and develop new business model of a leading TFT-LCD company and interviews with critical managers. By which， we will give suggestion of integration and new business direction for the industry.