Resolutions towards profitability!
Editor – S K Khurana Everyone gets engaged in planning to welcome New Year by identifying powerful strategies to succeed, be it personal or business activities. Similarly, the printers’ community across the world, with India as no exception, would be setting New Year’s resolutions for their business activities to ensure maximum return on their relentless endeavours and capital investments.
Undoubtedly, all printers are savvy enough to set their business goals, while striving to meet the ever changing requirements of their customers. Going with the observations regarding various activities of the printers’ community, I would suggest that the Indian printers, at this point of time, need to comprehensively evaluate and market their excess capacity intelligently, and reduce ‘waste’ at all possible levels, apart from adopting other effective and customized measures as they deem fit commemorating their existing strengths.
Observantly, as already pointed out in the previous issue of P&P, with stressful market scenario affecting the economies across the globe, and directly as well as indirectly creating greater challenges for the graphic arts industry, most of the printers in India have been witnessing lesser workload, increased input costs, and greater intensity of cut-throat competition.
In this scenario, utilization of their ‘excess capacity’ has been emerging as one of the major challenges to deal with, where adequate potentials of making profits persist, irrespective of anything. For effectively tapping these potentials, a comprehensive evaluation of such capacity needs to be executed, which shall definitely enable the printers to market their strengths effectively and appropriately, ultimately ensuring profitability at a greater scale.
Similarly, for reducing production cost to maximize profit, the printers need to identify efficient measures to minimize ‘waste’ at all levels. Unlike other factors, it is of greater significance as ‘waste’ results in no gain to anyone, rather it is to be taken as national wastage. With sophisticatedly improving their operational procedures by adopting right technologies and engaging efficient and trained staff, the printers may also cope with this operational challenge effectively.
So, while strategically reviewing your business resolutions again, everyone needs to keep in mind the above factors to ensure sustainable profitability in the upcoming New Year 2013, bringing the best allover.
Wishing you all a very happy and profitable New Year!
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