Vinamilk Supply Chain Management Project - Van M. Vu

Van M. Vu - [email protected]

Vinamilk Introduction

Vinamilk, which stands for

Vietnam Dairy Products Join Stock

Company, was established in 1976 as

the state-owned Southern Coffee-Dairy.

It has reached the title of the biggest dairy company and has been listed as 15th largest company

currently. Vinamilk has dominated approximately 75% of the milk market of our nation and this

company has a solid distribution network which spread through 64 provinces with 183 distributors

and 94000 points of sale; also, Vinamilk has exported their products to other countries such as

Netherland, The United States, France, Canada, and Germany… and so on.

Current Stage

Vinamilk has continuously been the biggest dairy company in Vietnam since establishment in

1976 and its current market shares account for 50% in Vietnam dairy field. Vinamilk’s growth rate of

total sales, profit before taxes and average equity in 5 recent years have been 31%, 31% and 28%.

Total revenue of this company in 2013 was approximately 1.5 billion USD and it is expected to reach

3 billion USD of total revenue in 2017.

In 2013, 2 milk farms of Vinamilk was given ISO 9001:2008 Certificate for reaching the

standard by Bureau Veritas Organization from France. Currently, it has 5 milk farms throughout the

country and in the near future it will invest in expanding its milk farms with advanced technology ,

which will bring Vinamilk to a higher stage of standard dairy company with international quality.

Mission

Vinamilk commits to provide the community with the best and highest quality source of

nutrition which derived from respect, love and its responsibility to people lives and society.

Core Value

INTEGRITY RESPECT EQUITY


MORALITY COMPLIANCE

Business Philosophy

Outstanding Achievements

Through 38 years of establishing and development, Vinamilk has been receiving these honors :

From 1995 – Recent:

Top 10 Vietnam high quality goods

Year 2010 :

Top 200 businesses under 1 billion USD in Asia Pacific (According to Forbes Asia)

Year 2013 :

Placed as 2nd in top 10 largest private businesses in Vietnam

1st place in the best 50 listed firms in Vietnam (According to Forbes Vietnam)

Most favourite Green Business and Product voted by consumers

Year 2010, 2012, 2014 :

National Brand (According to Ministry of Industry and Trade)

Quality

Demand Creativity


Vinamilk’s products Liquid milk:

UHT (Ultra – Heat Treatment) Fresh Milk

i. UHT Fresh Milk Low-Fat Vinamilk 100%

ii. UHT Fresh Milk Vinamilk 100%

iii. UHT Fresh Milk 100% Twin Cows

Pasteurized Milk

i. Pasteurized Fresh Milk Low-Fat Vinamilk 100%

ii. Pasteurized Fresh Milk Vinamilk 100%

UHT Milk

i. UHT Milk Fortified With Micronutrients (Vinamilk ADM+)

ii. UHT Milk Flex – Low-Fat & Calcium-Rich

iii. Flex UHT Milk – Lactose-Free

iv. UHT Milk Vinamilk

v. UHT Milk Vinamilk Star

UHT Drinking Yogurt

Susu UHT Drinking Yogurt

Vinamilk UHT Drinking Yogurt

Vinamilk Ozela UHT Drinking Yogurt

Probiotic Drinking Yogurt

Spoonable Yogurt

For Skin Beauty

i. Vinamilk Aloe Vera Yogurt

ii. Probeauty Yogurt

For Digestion Support

i. Vinamilk Probi Yogurt

For Kids

i. Susu Fresh Cheese

ii. Susu Yogurt

For Dieters

i. Vinamilk Kefir Yogurt

ii. Vinamilk Yogurt No Sugar, Less Sugar

From Fresh Milk 100%

i. Vinamilk Yogurt from Fresh Milk 100%

For Daily Essential Nutrition

i. Vinamilk Sweetened Yogurt

ii. Vinamilk Star Yogurt

Powdered Milk and Nutrition Powder

Powdered Milk for Pregnant and Breast-Feeding Women


i. Dielac Optimum Mama

ii. Dielac Mama

Nutritional Products for Infants and Toddlers

i. Dielac Grow

ii. Dielac Alpha

iii. Dielac Alpha Gold

iv. Dielac Optimum

v. Dielac Star Care

vi. Dielac Pedia

Infant Cereals

i. Ridielac Alpha

Special Nutrition Products for Adults

i. Vinamilk Sure Prevent

ii. Vinamilk CanxiPro

iii. Vinamilk Diecerna

iv. Vinamilk Lose Weight

v. Vinamilk Nutrition

Condensed Milk

Southern Star Sweetened Condensed Creamer

Longevity Sweetened Condensed Milk

Beverages

Fruit Juice

i. Vfresh 100% Fruit Juice

ii. Vfresh Fruit Necta

iii. Vfresh Juki Multi-Vitamin Juice

iv. Vfresh Smoothies

Aloe Vera Drink

i. Vfresh Aloe Vera

Bottled Drinking Water

i. Icy Bottled Drinking Water

Salty Lemonade

i. Icy Salty Lemonade

Tea

i. Lincha Lingzhi Tea

ii. Vfresh Artichoke Tea

Ice Cream

Vinamilk Ice Cream

i. Nhoc Kem

ii. Vinamilk Ice Cream (Boxes & Cups)

Cheese (Vinamilk Cheese)


Soy Milk

High Protein Goldsoy Soy Milk

Goldsoy Canxi-D Soy Milk

Goldsoy Canxi-D Corn Flavour Soy Milk

Vinamilk’s Supply Chain Structure Supplier

Delivery of Material – Production Inventory

•Dairy Farms Tuyên Quang

•Dairy Farms Bình Định

•Dairy Farms Thanh Hóa

•Dairy Farms Lâm Đồng

•Dairy Farms Tây Ninh

Fresh milk

•Fonterra (SEA) Pte Ltd

•Hoogwegt International BV

Powdered milk

•Perstima Binh Duong Tins

• Tetra Pak Indochina

Carton Packaging and

Packaging Machines


Production – Milk Factories (MF)

New Zealand : Miraka milk factory

Store of finished goods

After manufacturing the finished goods will be imparted to two big production inventories in

Ho Chi Minh (in the South) and Hanoi (in the North) for safely shipping under strict management to

the distribution channels and final customers.

Distributors and retailers

Domestic Distribution Channel Model

Fresh milk collected from the farms

Transported to 86 Milk hubs nearby to get quality check within

1 hour

Transported by tank truck to 2 production inventories in Ho Chi Minh and Hanoi and wait to be

transported to the factories

North

Nghệ An MF

Tiên Sơn MF

Center

Bình Định MF

Đà Nẵng MF

South

Trường Thọ MF

Thống Nhất MF

Dielac MF

Việt Nam Powdered MF

Sài Gòn MF

Cần Thơ MF

Việt Nam Beverage Factory

Việt Nam MF


Modern Channel Traditional Channel

Foreign Distributors by Regions

Customers

Individual customers

Organizations

Customers

Retailers Distributors Supermarkets

& Metro

SEA

•Cambodia

•Vietnam

•Philippines

•Sri Lanka

Middle East

•UAE(Dubai, Afghanistan)

•Iraq

Africa

•Nigeria

•Guinea

•Angola

•Mali

Others

•Bulgaria

•Maldives

•US, Australia, Canada....


Roles of each members in Vinamilk’s Supply Chain Suppliers

For the sustainable development purpose and for the high quality products, it is a must to

guarantee the standard of all the supplying materials. That is the reason why suppliers play an

important role in Vinamilk’s success and also contribute to the affordable products for the

customers.

Fonterra is a global, co-operatively-owned company, also one of the best companies in dairy

products field. The company is holding approximately 30% of the world’s dairy exports and it

provides high class powdered milk to many organizations including Vinamilk.

Hoogwegt International was established in 1965 in the Netherlands, with more than 40

years of experience Hoogwegt Group consisted of the most significant dairy companies all over the

world. Having a partner as Hoogwegt International is considered to assure the precise information

about dairy products business and catching up with the new trends of customers as well.

Furthermore, it has such stable network with many large factories which can help Vinamilk widen its

business network. Vinamilk has many close connections with other suppliers for more than 10 years

which also devote to its success story.

Tetra Pak is one of the largest international companies with headquarters in Sweden which

supplies processing solution and products packaging for more than 170 countries. In 2013 it has

provided Vinamilk with the integration and automation technology in the new built factory that

helps enhance the efficiency production within the factory.

One more factor which is taken into account of Vinamilk competitive advantages is the fresh

milk collected from the farms. After being bought from the farmers, the fresh milk will be

immediately moved to the milk hubs within 1 hour in cold storage system and then they will get the

quality check with the set of standard which are dry matter, fat, microbiology in order to make sure

the material is good enough. Especially, for the UHT milk production, the fresh milk has to be tested

with 75 degree alcohol to inspect the precipitation. After that, the qualified fresh milk will be

transported to the factories and wait for the production and in 2013, Vinamilk has bought 156,562

tons of milk from the farms in total.

Perstima Binh Duong has continuously been a long-term partner of Vinamilk since

establishment in 1976 with the provision of high quality Tins which took part in the

That are the reasons why Vinamilk promises to bring the highest quality dairy products to

the customers since they are strictly inspecting every issues from the beginning.

Delivery of Materials

For the purpose of safely transporting these materials under strict rules and to assure the quality of

the materials, Vinamilk has owned 2 logistics enterprises on the North and South of Vietnam. Their

functions are to store the materials serve for the production lines and ship the products to the

distributors as well as the consumers through the truck shipping system. This also to make sure that

all the products will be easily shipped since these logistics enterprises locate at two directions of

Vietnam which is pretty flexible.


o Hồ Chí Minh Logistics Enterprise: 32 Đặng Văn Bi, Trường Thọ Ward, Thủ Đức District,

HCMC

o Hà Nội Logistics Enterprise: Km 10 Route 5, Dương Xa commune, Gia Lâm District, Hanoi

City

Production

From October 2013, Vinamilk has adapted new production technology which is an automatic

and closed production line from raw materials inputs to products output.

Raw fresh milk receiving area

After going through quality check, measurement equipment and clarification; fresh milk will

be poured into the cold tank system (150m³/tank)

Cold tanks (150m³/tank)

From the cold tanks, the raw fresh milk will go through many stages such as centrifugal

separation of bacteria, assimilation, pasteurization and get cooled down to 4*C and

transferred to other tanks and get ready for UHT pasteurization processes.

Centrifugal Separation of Bacteria Machine


UHT pasteurization system

Thank to the combination of these factors: advanced processing technology, UHT

pasteurization and aseptic filling technology, the products can keep the good flavour within 6

months without any preservatives.

Filling system

Automatic LGV Robot will move finished-goods pallet to the smart storage. They will

automatically move the packaging roll and packaging materials to other machines, they also

recharge battery without human control.

Automatic LGV Robot


LGV Robot looks for battery to automatically recharge

Vinamilk ‘s factories list: Vinamilk currently owns 12 factories located throughout the country

Trường Thọ Milk Factory : 32 Đặng Văn Bi St., Trường Thọ Ward, Thủ Đức District, HCMC

o Specializes in manufacturing : sweetened condensed milk, UHT milk, Soya milk,

Yogurt, Fruit Juice, Cheese

Thống Nhất Milk Factory : 12 Đặng Văn Bi St., Trường Thọ Ward, Thủ Đức District, HCMC

o Specializes in manufacturing : sweetened condensed milk, UHT milk, ice cream,

yogurt and drinking yogurt

Dielac Milk Factory : Hà Nội Highway, Biên Hòa I Industrial zone, Bình An ward, Biên Hòa

City, Đồng Nai province

o Specializes in manufacturing : powdered milk for children and adult, nutrition

powder for children

Việt Nam Powdered milk Factory : 9 Tự Do Avenue, VSIP1 Industrial Zone, Thuận An

commune, Bình Dương province

o Specializes in manufacturing : powdered milk for children and adult

Bình Định Milk Factory : 87 Hoàng Văn Thụ St., Qui Nhơn City, Bình Định Province

o Specializes in manufacturing : UHT milk, ice cream, yogurt and drinking yogurt

Nghệ An Milk Factory : Sào Nam St., Nghi Thu Ward, Cửa Lò commune, Nghệ An province

o Specializes in manufacturing : condensed milk, milk, yogurt

Sài Gòn Milk Factory : 1-18 Block 1, G1 Area, Tân Thới Hiệp Industrial Zone, lane 80, Hiệp

Thành ward, District 12, HCMC

o Specializes in manufacturing : milk, yogurt and drinking yogurt

Cần Thơ Milk Factory : Block 46, Trà Nóc 1 Industrial Zone, Trà Nóc Ward, Bình Thủy District,

Cần Thơ City

o Specializes in manufacturing : milk, yogurt, ice cream cake

Tiên Sơn Milk Factory : Tiên Sơn Industrial Zone, Hoàn Sơn commune, Tiên Du District, Bắc

Ninh province

o Specializes in manufacturing : condensed milk, yogurt, milk and fruit juice, ice cream

Đà Nẵng Milk Factory : Block Q, Street 7th, Hòa Khánh Industrial Zone, Hòa Khánh Bắc

Ward, Liên Chiểu District, Đà Nẵng City


o Specializes in manufacturing : milk, yogurt

Việt Nam Milk Factory : Block A-4-CN,A-5-CN, A-6-CN, A-7-CN, Mỹ Phước 2 Industrial Zone,

Bến Cát District, Bình Dương province

o Specializes in manufacturing : condensed milk, yogurt, milk and fruit juice, ice cream

and soya milk

Việt Nam Beverage Factory : Block A, NA7 St., Mỹ Phước 2 Industrial Zone, Mỹ Phước Town,

Bến Cát District, Bình Dương province

o Specializes in manufacturing : fruit juice, tea…

Miraka Milk Factory : locates in New Zealand

o Specializes in manufacturing : UHT milk, powdered milk

All Vinamilk’s laboratories in these factories have received the ISO/IEC 17025:2005

Certificate in chemistry and biology aspects and all the factories have the environmental

management system that achieved ISO 14001:2004 Certificate.

With the Tetra Pak Plant Master Automation solution, Vinamilk can easily and continuously

keep track of all the processes within the factories to make sure the production occurs under high

standard and Tetra Pak provides the information that enhances the efficiency of the production.

Store of finished goods

The special things about this closed production line is that it has the first and biggest smart

storage in Vietnam with the area of 6000 m² and 20 entry ports; the storage is 105 meter long, 35

meter high including 17 bracket floors and 27168 storage spots. With this, the import and export of

materials and goods will be automatically operated with 15 automated rail guided vehicles which

will transfer the finished products pallet to the storage and 8 stacker crane robots will arrange these

pallets on the shelf brackets.

Goods in the smart storage


With the storage management system Wamas integrated with management system ERP and

Tetra Pak Master Automation solution, which bring the smooth and seamless production within the

factories with other activities such as production planning, importing materials and exporting

finished-goods as well.

Distributors and retailers

Having a broad distribution network throughout Vietnam and also in other countries have

left significant impact on Vinamilk’s success, also this distribution network assure the company to

reach all the customers from three parts of Vietnam which are the north , centre and south and also

create opportunities to present its new products easily. Until the end of 2013, Vinamilk has more

than 224,000 retailers nationwide and 60 product showrooms.

For domestic market:

Vinamilk assigns the products to their distributors and from the distributors, the goods will

go to the retailers and final customers are the consumers who will directly use its products.

For the domestic retailers system, it is divided into 2 tiers:

Group of dairy products such as powdered milk and condensed milk: Vinamilk’s condition is

that this retailer must not sell any other products from other company and the retailers will

receive good promotion from Vinamilk to maintain the relationship. In case the contract is

broken, Vinamilk will strictly fire the retailers to set an example for others.

Group of ice cream, yogurt, UHT milk and liquid milk: Vinamilk’s condition is more opened

and flexible to these retailers since they are selling many kinds of products from many

companies and this is not the crucial target of Vinamilk. Therefore, the more retailers of this

group, the more popular its products will be.

Normally for each retailer, it depends on the location and selling place that Vinamilk

will set the sales amount for each place and reward them monthly, quarterly.

Currently, in the domestic market, there are two distribution channels: modern and

traditional channels:


Modern channel: Vinamilk directly sell the products to approximately 600 nationwide

supermarkets. The revenue in this channel contributes to 10% of domestic revenue.

Traditional channel: Vinamilk established a system including 266 exclusive widespread

contributors. The locations for these contributors are divided clearly to serve the nearby

retailers. On 31st December 2013, Vinamilk has owned more than 224,000 retailers, which

was 24,000 more increased compared to the end of 2012.

Moreover, Vinamilk has set up 60 product showrooms so far and it is expected to be 39

more in 2014.

For foreign markets:

The export in 2012 and 2013 accounted for 14% of total revenue and the primary exported

products are condensed milk and powdered milk and the export sales reached 4,415 billion VND.

The markets for these products are focused mainly on South East Asia, Middle East and Africa; there

are many more markets as we can see from the picture above.

Moreover, Vinamilk has one associated company called Miraka located in New Zealand with

the principle purpose is to produce fresh milk and powdered milk and one subsidiary company that

is Vinamilk’s new acquisition on 31st December 2013 in State California, United States.


Distribution management system:

To efficiently manage these distribution channels, Vinamilk has adopted and successfully

applied these advanced IT techniques into their operation such as Enterprises Resource Planning

(ERP), Oracle E Business Suite system and Customer Relationship Management (CRM).

Oracle E Business Suite system has been officially applied into the operation system of

Vinamilk since January 2007 and the company was recognized as the 1st one to successfully

use this system. The Oracle E Business Suite solution that helps connect to 13 places

including headquarters, factories and nationwide storages. The information technology

facilities also were standardized, synchronized and consolidated.

Customer Relationship Management (CRM) : with this solution, all the processes will be

optimized and provide all the information of customers for the sellers in order to create a

close relationship as long as the convenience for customers to contact the sellers and the

company anytime, anyplace and by any means of communication. This is a really effective

system to help enhance the efficiency customer policy as well as the distribution program

for each distributors and retailers based on the customers’ information.

Enterprise Resource Planning (ERP) : this is one of Vinamilk’s most productive tools that

assist the employees in working, which allow the distribution channels throughout Vietnam

can access to the headquarter in both offline and online modes. With the information

centre, Vinamilk would be able to make critical decisions on time and also boost up the

planning processes effectively. By updating customers’ information of each retailers, the

company can satisfy the consumers in such higher stage; furthermore, this also support the

workers in the retailers to be more flexible, to keep track of the trends of the market and

also to improve their personal skills. Besides, Vinamilk also keep an eye on the price policies

and discount throughout the distribution system while the customers would also receive the

benefit from a better service, which is also an advantage to Vinamilk.

By applying these advanced information technology system into the whole processes of the

company, Vinamilk has successfully manage all distribution channels, improve employees’ skills and

satisfy consumers’ need which increase day by day. Therefore, at the end of 2013, the total revenue

Vinamilk had earned was 31,586 billion VND which was a little bit lower than in the plan; however,

this total revenue has increased 17% comparing to that of 2012.

Customers

Consumers are also a part of the supply chain, one of the fundamental factors which bring

profit and also send back feedback to the company. With the feedback from customers, they will

show the company what they are into, what they are concerned about in the products as well as

expected demand that Vinamilk may need to adjust the flexibility and improve its supply chain.

Besides, Vinamilk wants the consumers understand more that they are not just selling the products,

they also distribute to the community such as creating many funds to support the poor children from

remote area and also show the care for the environment which is really big problem recently for

every companies. By doing that, Vinamilk not only gain the benefit from the customers but also

achieve the reputation and supports from them.


Advantages and Drawback of Vinamilk’s Supply Chain

Advantages

According to all the information above, we can see Vinamilk got these following advantages:

Vinamilk is the biggest dairy company that have been operating for more than 37 years

Vinamilk got the best dairy manufacturers in Vietnam with advanced technology that

reaches international level. High quality products and flexible products portfolio which can

satisfy consumers’ need.

Strong and nationwide distribution channels with 266 exclusive distributors, more than

224,000 retailers and sells directly to more than 600 supermarkets throughout Vietnam;

besides, Vinamilk exports its goods to many other countries.

Vinamilk got skilful and experienced Research and Product Development Department and

also collaborate with other international well-known research companies to improve the

products’ standard and quality as well as satisfy different segments of customers.

Applying highly information technology systems into operation management such as ERP,

CRM, ERM and so on from production, quality management to distribution channels.

Efficient and highly experience Executive Board in Dairy Field that have been working with

the company for many years. They also understand the market and can anticipate the new

trends coming up to set up the development strategy for Vinamilk.

Drawbacks

Besides the advantages, there are still disadvantages remained in Vinamilk’s supply chain

such as:

Due to the massive distribution channels, it’s complicated to monitor all the retailers

especially the ones in remote areas.

Hard to maintain the quality of the milk since not all the remote retailers have good

facilities

Lower livestock productivity comparing to foreign countries and high-cost raw milk from

domestic farms affect the revenue.

Depending on exported milk resources, the milk from the domestic farms can only fulfil 30%

of production demand; therefore, the stability of suppliers and raw materials cost are based

on the world’s supply-demand relationship.


Lesson learnt from Vinamilk’s Supply Chain

Lesson 1: Supply Chain is a competitive advantage of every company

Nowadays, efficient supply chain is one of the most significant elements in high developed

companies; on the other hand, it has become such a strategic part in winning the market, not

just a functional sequence of processes anymore. For Vinamilk, it has defined and developed its

supply chain to be such an competitive factor in the tough dairy market. By doing this, Vinamilk

wants to minimize all the costs as well as the transporting and delivery time from the

manufacturers to the final customers. Moreover, with highly technical milk manufacturers, it will

be less complicated to satisfy consumers’ demand.

Lesson 2: Develop the Enterprise Risk Management (ERM) to assure the

revenue

Knowing that for one company, there might be many risks that can occur and affect the

company’s productivity and benefit as well as the reputation; therefore, Vinamilk has applied the

ERM system into their management. The company is paying effort to complete this system by

keeping track of the products portfolios as well as the suppliers, delivery, and so on, Vinamilk also

tries to define what the expecting risks might be in near future and find solutions for them. In 2014,

the ERM system will be completely improved and it will be used to monitor all the activities within

the company to make sure there won’t be any mistake that might affect the company.

Lesson 3: Enhancing the collaboration with the partners in the supply chain

It is really complicated to choose among thousands of suppliers in Asia and in other

continents and also to connect every step in the supply chain continuously. Therefore, Vinamilk has

carefully chosen the suppliers as well as other partners to make sure the quality of the materials and

also the finished-goods; besides, Vinamilk has been trying to create a close relationship with all the

distributors and the suppliers. This also plays an important role in Vinamilk’s success.

Lesson 4: Applying the information technology in the supply chain

Vinamilk is one of the companies in Vietnam that has been using the management system

such as Enterprise Risk management (ERM), Customer Relationship Management (CRM) and

Enterprise Resource Planning (ERP) in operating and monitoring the whole sequences of production

and delivery. With these systems, Vinamilk can easily keep track of every activities in the company

and make sure everything works smoothly and all the problems will be solved fast to maintain the

production’s speed. By doing this, Vinamilk wants to be one of the top dairy companies in the region

and also in the world and bring the best quality to the consumers.


Conclusion

According to all information above, we can see that it is not a coincidence that Vinamilk has

become a biggest dairy company in Vietnam. This company has turned out to be a close friend to the

domestic consumers and also spread their wings to other countries to bring the best value of dairy

products. One of the biggest factors that have significant impact on Vinamilk’s achievements is the

Supply Chain and the company is trying every single day to improve this factor to enhance the

quality.

However, in my opinion, Vinamilk can do these following things to improve the quality and

also increase the raw materials quantity so that the drawbacks be solved:

Monitoring the distribution channels even from remote areas

Improve the domestic farms’ productivity to export less milk from other countries

Manage the human resources, make the plans to help the employees improve their working

skills and also catch up with the international advanced technology.

Set up long-term strategic plan and stick with it and also enhance the management

department within the company

Finally, I think if Vinamilk keeps on developing its product portfolio and boost up the customer

services as well as the quality of the products; their target to reach 3 billion USD of total revenue in

2017 will become true.


References Vinamilk Official website : http://www.vinamilk.com.vn/vi

Vinamilk Annual Report 2009, 2012, 2013 : http://www.vinamilk.com.vn/vi/bao-cao-thuong-nien

Miraka Official Website : http://www.miraka.co.nz/

Tetra Pak Official Website : http://www.tetrapak.com/

Fonterra Official Website : http://www.fonterra.com/global/en

Hoogwegt international bv Official Website : http://www.hoogwegt.nl/en/

http://www.vinamilk.com.vn/vi

http://www.vinamilk.com.vn/vi/bao-cao-thuong-nien

http://www.miraka.co.nz/

http://www.tetrapak.com/

http://www.fonterra.com/global/en

http://www.hoogwegt.nl/en/

Vinamilk Supply Chain Management Project - Van M. Vu

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Transcript of Vinamilk Supply Chain Management Project - Van M. Vu