Tsingtao Brewery makes Global Lighthouse Network
The Tsingtao Brewery, China's major brewery and producer of Tsingtao Beer based in Qingdao, Shandong province, has been included in the latest Global Lighthouse Network published by the World Economic Forum on March 15.
According to industry insiders, the "lighthouses" boast the world's most advanced factories and are leading the way in the adoption of Fourth Industrial Revolution technologies.
In addition to increasing the speed and productivity of operations, they are also committed to upskilling the workforce and boosting their eco credentials.
Tsingtao beer products [Photo/VCG]
Status as a lighthouse factory indicates that a company is an industry leader in the large-scale adoption of cutting-edge technology and boasts strong innovation in business processes, management systems, industrial internet, data systems, and more.
So far, only 69 factories around the world have received the honor, 20 of which are located in China, more than in any other country.
The Tsingtao Brewery posted an 18.86 percent year-on-year growth in net profits in 2020 despite the economic downturn caused by COVID-19.
The Tsingtao 1903 bar in Jinan, capital of Shandong province. The bar chain is an effort by the Tsingtao Brewery to reenergize its brand and attract more young consumers. [Photo/VCG]
The company has implemented a high-quality and innovation-driven development strategy and taken multiple measures to explore the domestic market, promote high value-added products such as canned wine and craft products, and increase profits.
The 118-year-old Tsingtao Brewery has been utilizing smart digital technologies across its value chain to meet increasing consumer demand for personalized and unique beers. This technology has reduced order processing and new product development times by half, increasing the share of customized beers to 33 percent and increasing revenue by 14 percent, according to the company.