As difficult a year as any in my memory is the best description of 2013 for myself and Romotech.
Coming off a record year (as I am sure 2012 was for many of you), 2013 tossed us around like a cork in the Atlantic Ocean!
All of the “as usual” practices we engaged going into the year proved to be inadequate as tools to compete with the myriad of challenges of 2013. As difficult as it is to say, with increased success comes the realization of the vulnerability of the processes, people, equipment, and procedures of the past. All of the above were tested during the year and found to be lacking in handling the increased “load” inherent in success.
You ask yourself: Will business as usual take your company to the next level? Will you have the resources to capture the growth anticipated over the next 5-10 years? Can you generate sufficient profits to make the infrastructure improvements necessary to sustain the growth?
A good year-end analysis of the overall business health might be prudent, I know we can use one!
- Are the key positions filled with visionaries capable of the effort needed to achieve anticipated growth?
- Will the machinery last and support the additional thru put and perhaps run hours?
- Do you have physical space to handle new equipment ,storage, W.I.P., offices?
- Is the financial model sufficient to allow for increased raw inventory, payroll, insurance?
As our businesses grow into 2014 and beyond, “As Usual” is not going to be good enough.
Rotational molding is a growing industry as we expand our process into new venues and find unique ways to make increasingly complex and FUN new products. For us to be in position to capture this growth the world marketplace is offering, we must be ready for these fortunate opportunities ahead.
I know we are not ready. We have a lot of work to do and I suspect many others find themselves in the same position!
I plan to enlist the expertise of the great suppliers to the industry, business partners and customers, and trusted friends in the ARM association to make sure we have a shot at making the most of the opportunities as presented. No more business ‘As Usual’!
I know all of my ARM friends are ready to reach new highs in 2014 and beyond, to all have a safe, prosperous, and Happy New Year!
Dave Smith is the President of Romotech and a Past President of ARM.
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For more information about the Association, visit www.rotomolding.org
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