Being brought up in a rich, ancestral culture, Vicky Taslim, Director of the Panca Budi Group had committed himself to expand the family business since his early days. Therefore, after completing a business degree from Central Queensland University, Australia, Vicky sat down with his father Djonny Taslim (President Director of Panca Budi Group) to determine his role in the thriving family business. Reminiscing to the tête-à-tête with his father, Vicky reveals, “The first discussion we had was whether he would like to keep the business going as a family legacy or sell it off and retire. When he replied that he wanted to keep it in the family, it was a no-brainer for me. I had to be involved. If that is what he wished, then I decided I would like to understand the business.”
Evolutionary History of the Panca Budi Group
In 1979, The Panca Budi Group (the Company) was established by Djonny Taslim, who began his career as a general trader, distributing finished goods in the form of plastic bags made up of PP, HDPE, and PE as raw materials. In 1990, Djonny established the Company to produce and distribute finished goods in the form of plastics bags. The following year, the Company began its commercial operation by manufacturing plastic bags and later got certified for its production process management.
Even though the use of plastic packaging remains relatively low particularly in Indonesia as compared to other markets in the region such as Singapore and Thailand, it still possesses a potential to grow at a much faster rate than other countries.
The Company: Current Leader of Branding in Indonesia
The Company is an integrated firm that manufactures and distributes plastic packaging, comprising of business activities such as trading of plastic resin, manufacturing of plastic packaging, and distribution of plastic packaging for both the domestic and export markets. It was the first company in Indonesia to produce branded plastic bags and also the foremost to obtain the Halal certificate from the Indonesian Council of Ulemma in 2013, as well as to break a record of the World of Records Museum – Indonesia in 2013.
According to Frost & Sullivan, the Company has grown into one of the market leaders in the plastic bag products. In order to provide excellent services, the leading plastic manufacturer utilizes all of its marketing, sales and distribution personnel who are able to distribute its products across all of the Company’s marketing jurisdictions. The Company and its subsidiaries have 7 factories across Java and Sumatra such as 5 in the Banten Province, 1 in the Central Java Province, another in the North Sumatra Province.
Currently, the Indonesian leader of branding is producing and distributing consumer plastic packaging for daily household usage through more than 10,000 shops in traditional markets. Owing to its distinguished range of products, the Company has won a Platinum Award, bestowed on any company, collecting nine consecutive Best Brand awards in Indonesia.
Vision, Missions, Motto and Core Values of the Company
Vicky and his team share the following vision, missions, motto, and core values for the Company.
Futuristic Vision: To become the plastic packaging manufacturer with the most extensive distribution network, prioritizing quality and service to customers & business partners.
- To expand the company’s distribution network across Indonesia and overseas;
- To improve production standards and product quality;
- To provide the best services with the support of trained and reliable human resources;
- To use fast and accurate information technology system and
- To improve employee welfare and business partners’ satisfaction.
Motto: The Panca Budi group’s motto is “Your trust is our commitment”. Further, the decision makers believe in the trust bestowed by their business partners; suppliers, customers and financial institutions. Reputation is not built overnight and Vicky and his team are happy to claim that they have a very good reputation within the industry.
- Respect for Everyone: The founding team believes in respecting and honoring every individual as well as upholding tolerance and transparency as for those values are important for the growth and prosperity of their Company.
- High Standard of Integrity: Vicky and his team strive to maintain the highest integrity in every aspect of their business by implementing fair and ethical commitments to their business partners and customers.
- Continuous Innovation: Also, creativity and determination as well as having courage to take risk to achieve the goals, continuously innovate and develop the best products and services to the customers are integral to the Company.
- Dynamic Team Work: The Company has a high appreciation for its team’s success, believing that together they can achieve and attain more as a team rather than as an individual.
- Focus on Customer Needs: With the sole purpose of serving the customers, the team of directors has been determined to build a long lasting relationship by providing them with tailor-made services for their different needs.
Standing Tall in the World of Plastics
The decision makers of the Company believe in supplying the highest quality product, with competitive pricing, and consistency in product availability. After more 38 years, Vicky and his team have proven to be the most consistent and reliable business partner in the plastic industry.
Approach of Young vs. Old Generation
According to Vicky, the younger generation tends to be keener towards applying technology in day-to-day operations to improve efficiency. On the other hand, the older generation believes in human interaction through personal communication. At Panca Budi, there is a good mix of both the cultures.