紡織業垂直整合廠商之競爭策略比較研究：以申洲及儒鴻為例

Abstract

台灣在全球紡織品供應鏈中佔有重要的策略性位置，其中更有七成的機能布來自台灣。不過，隨著中國大陸技術、品質的迅速提升，貿易環境不斷演化的機會與威脅，同時，快時尚及伴隨而來的垂直整合壓力，以及「運動休閒」逐漸成為新趨勢，由此造就出新的供應鏈，並衝擊台灣紡織產業的發展。面對兩岸的競合關係日益密切，深入瞭解雙方產業結構的差異，成功關鍵因素何在，以及領導廠商的營運策略，尤其是布料與成衣的垂直整合程度，對競爭力的影響之分析，都將攸關未來廠商的策略空間與產業發展前景。 因此，本研究選擇以兩岸紡織業的領導廠商，申洲與儒鴻，進行深度的個案經營策略與績效分析，期能提供有用的洞見。首先，本研究先以麥可.波特的五力模型，分析兩岸的產業結構；接著，分別探討個案公司的發展歷程、營運策略、垂直整合程度、競爭優勢與經營績效；最後，針對其營運及財務的表現，歸納具體做法，並提出研究發展與策略建議。 研究發現，兩家個案公司過去培養的競爭優勢奠基今日的領先地位：申洲-在中國大陸，有完善的配套產業支援、物流基礎設施、快速成長的內需運動休閒服飾市場、加上低成本的原料採購優勢；儒鴻-在台灣，由中小企業組成、代工廠群聚及專業分工，可與原料、織布、染整、後加工等協力廠，有著深度的合作開發關係，憑藉完整的產業鏈及優異的上下游整合能力，產品不斷推陳出新。 然而，申洲的整體成本領先策略，以及儒鴻的集中差異化策略，均有其挑戰。申洲未來的營收成長能否持續，其在越南生產的布料，是否有較高的機會為其他同業所模仿；儒鴻引以為傲的差異化布料，是否能複製至海外生產，協力廠能否配合一起外移等，都是需要面對的經營課題。另外，面對布料染色的污染、海外人力的派遣，品牌客戶要求前往其他新興發展中國家設廠等，都將決定這兩家公司競爭優勢的可延續性，有待後續更深入的探討。

Taiwan plays a significant role in the global textile supply chain, especially, around 70% of global supply of functional fabrics are supplied by Taiwanese companies. However, as Mainland China’s companies have developed quickly in technology and quality, as well as opportunities and threats from the evolving trade environment, plus fast fashion and the accompanying vertical integration pressure, competitive threats and hence impacts to the development of Taiwan’s industrial players are getting higher than before. It becomes interesting to explore the similarities and differences among competitors across Taiwan Strait, including those of industry structure, capability development and strategy evolution, especially the impact of differential degrees of vertical integration on their financial performance. Results of these research efforts can surely contribute to strategy formulation and policy making. The present research therefore undertook a case-based approach by comparing strategy and performance of two leading players of this industry, one from Mainland China (Shenzhou) and the other one from Taiwan (Eclat). We first use the five forces model proposed by Michael Porter to analyze the industrial structure on both sides of the Taiwan Strait, and explores the development history, operating strategies, degree of vertical integration, competitive advantages and operating performance of the case company. Finally, based on its operational and financial performance, specific practices are summarized and suggestions will be proposed. We found that the competitive advantages are cultivated and evolving over time based on the contextual environment and development history. Shenzhou of Mainland China has equipped with great industry support, logistics infrastructure, rapidly growing domestic demand for sports and leisure apparel goods, and low-cost raw material procurement advantages. Eclat of Taiwan own an ecosystem composed of small and medium-sized enterprises, a cluster of foundries and professional division of labor. Such factor conditions rendered cooperative development relationships with raw material, weaving, dyeing and finishing, post-processing and other cooperative factories. With a competitive supply chain and excellent upstream and downstream integration capabilities, products are constantly being introduced. However, both companies face future challenges. Shenzhou, who adopts overall cost leadership strategy has to ensure its revenue growth momentum and prevents from imitation due to relocation of fabric production to Vietnam. Eclat, who is more like to take a differentiation focused strategy has to ensure that the basis of differentiation on fabrics can be maintained in overseas production and whether those key supply chain partners will move out together. Furthermore, in the face of the pollution of fabric dyeing, the dispatch of overseas manpower, and the brand customer's request to set up factories in other emerging developing countries, whether the competitive strategy and advantages of the two companies can be sustained needs to be verified by follow-up research and analysis.