Customer Relationship Management

Customers are one of RichWave's six major core values. We emphasize that customer satisfaction always comes first and continue to refine our product quality to meet the customers' needs. In terms of execution, we have engaged in multidimensional system communication through the global customer support system and think from our customer's perspectives to resolve their problems proactively. Moreover, we collaborate closely with the R&D team to convey the customers' needs and develop diverse products that cater to the customers' requirements. RichWave has created our market image and brand value through such an approach and in turn, engendered a high level of customer satisfaction and stickiness. We value the opinion of every customer, hence we have formulated the "customer complaint management protocol"to process customer complaints efficiently and actively review the potential cause of the complaint to prevent the problem from reoccurring. As for our customers' opinions, we will categorize and archive them and prepare the "customer complaint notice"to make sure that relevant data is processed and managed effectively. Next, we will strive to clarify the problem, collect relevant information, and coordinate various departments to implement improvements and offer responses; the customers' satisfaction with the improvement solutions is determined before the case is brought to a conclusion. Additionally, we have devised the "customer product return/ exchange SOP"for product return/exchange operations that are closely associated with customer satisfaction to ensure that our customers can enjoy a good product return/exchange experience, thereby maintaining a high level of customer satisfaction towards the company's services.

Customer Complaint Handling Process

To ensure the customers' needs are documented, analyzed, and responded to effectively, RichWave has established an annual customer satisfaction survey mechanism using the 5-point Likert scale, while the customer satisfaction survey questionnaires are retrieved via email and fax. In 2023, RichWave conducted a satisfaction survey for its major customers in Taiwan, China, Japan, and Korea. The contents encompass dimensions such as product quality and package labeling, technical expertise and problem-solving efficiency, sales professionalism and service attitude/efficiency, product delivery, and return policy. Various business units of the company will propose improvement plans based on the outcome of different evaluation indicators to maintain customer relations and optimize RichWave's service capacity. Generally speaking, factors such as a turbulent global political economy, a downturn with reduced demand in the semiconductor industry, sluggish demand in consumer electronics, and inflation continue to disrupt and persist longer than expected. RichWave is vigorously trying to lower the inventory level, and inventory pressure is gradually being mitigated every quarter. Although there was a brief period of shortages in Q3, RichWave's customers have expressed high levels of satisfaction with the company's services, achieving an average satisfaction of 90%. The company has also optimized various aspects based on customer suggestions such as product packaging consolidation and increasing the diversity of 5G product models in an effort to continue accumulating and elevating customer satisfaction and loyalty towards the RichWave brand. In addition, the number of defective products per million products of the Company has been decreasing year after year, and the target set for the number of defective products each year has been achieved.

Average Customer Satisfaction in the Last 3 Years

RichWave's Product Defect Rate:
DPPM (number of defective units / total units shipped)