| 摘要: | 在全球進入低毛利競爭、資訊快速發展、消費意識高漲、追求產品多樣化個性化的時代，企業必須不斷地提升核心能力方能維持競爭優勢。通路廠商一方面要滿足消費者的需求，另一方面必須提昇本身的競爭力，以因應產業態勢的變化。1988年，聯強國際(Synnex)率先成立以通路為專業經營的公司，首創配銷、物流、維修三合一的通路經營模式。1995年聯強在台灣掛牌上市，以顛覆傳統的運作思維在行銷通路界領先群雄。本文以聯強為研究對象，探討資訊通訊通路產業的商業模式、經營策略，並分析其策略價值。 本研究應用五力分析、商業模式分析、SWOT分析探討聯強的經營策略，並應用自由現金流量折現法分析聯強的策略價值。研究結果發現，聯強商業模式的特色在於公司建立標準的管理流程與系統，成立自有的物流車隊及通路，以及有效地掌握新技術與新觀念來改革通路結構的能力。面對外部環境的變化，聯強的各項策略中以擴增產品線與產品領域、取得品牌代理權、深耕並拓展通路據點、尋求異業結盟、建立運籌中心以及提升資訊系統並發展電子商務等策略可以有效降低聯強的經營成本並提升產業的進入障礙，對聯強的企業價值創造貢獻最大。 The past two decays saw an era of low profit margins, the fast development of information technology, and upsurges of the consumer consciousness in the pursuit of product variety and personalization. In 1988, Synnex took the lead to establish itsself as a specialized 3C distributor. It integrated selling, physical distribution, and repair service and created a three-in-one innovative business model. In 1995, it listed its stock on Taiwan Stock Exchange. Since then, Synnex has subverted the traditional operation mindset and has become one of the leading distributors in the industry. This study explores Synnex’s business model and its value creation strategies, and analyzes the enterprise value based on the strategic assumptions. This study applies five force analyses, the business model analysis, and the SWOT analysis to explore Synnex's business strategies, and using discounted free cash flow method to analyse synnex's strategy value. The findings of this study are as follows. Synnex’s business model have been characterized by its establishment of efficient logistic system, company owned motorcade and channel, and the abililty to adopt new technology and new concepts to innovate its channel structure. Among the strategies responding to the environmental changes, the strategies of increasing the product lines and product areas, obtaining the franchises of brand products, expanding and cultivating channel locations, seeking for strategic alliances, establishing logistic centers, upgrading the information system, and developing e-businesses would the most contributory to the enterprise value of Synnex. |
