Where Past Meets Future
- Published: December 31, 2003, By Yolanda Simonsis, Associate Publisher/Editor
It's not unusual at this time of year for people to pause and look back at where they've been. Now is also the time when managers contemplate the future by finalizing budgets. On p31 Bob Marsh addresses the recovering economy in an interview with Robert Fry, DuPont's senior associate economist. With the economy experiencing a 8.2% increase in real gross domestic product in the third quarter of 2003, it's marked the best since 1999.
While all this is music to our ears on a general business level, converters want regular, reliable data on current and future economic performance specific to the converting industry. To provide this valuable information, we are creating PFFC's Economic Monitor, which will include data on converter revenue, profitability, work on-hand, raw material costs, capital investment, economic conditions, and much more.
The only one of its kind industry-wide, the Economic Monitor will be a grassroots report based solely on the responses of converters that have agreed to become members of our economic panel.
There are definite benefits to becoming a panel member. Here's how it works: To gather information, panel members will fill out a quarterly survey that will take a maximum of five minutes to complete. In consideration for completing the survey, panel members will be the first to receive a quarterly report that includes results of the data we collect and analyze. This data is valuable for strategic planning, quarterly reports to shareholders, and informing employees of conditions in the converting industry.
While we have received a good response to our solicitation for members, I'm taking advantage of this space before hitting the “go button.” After all, the more participation, the more reliable the results.
Results will be collected by a third-party organization to protect confidential information. Participants will be categorized into market segments to make sense of comparisons among company types.
To join this elite Economic Monitor panel, go to www.xposureresearch.com/survey.asp?surveyid=6. There's no cost to participate. How can you go wrong?
Among other concerns facing converters in 2004 are difficult decisions on capital equipment expenditures. Many converters have been reluctant to part with investment dollars over the past two years, despite the availability of low-interest loans. While they readily admit new technology may give them the efficiencies or capabilities to separate them from competitors, they have adopted a wait-and-see attitude. With a seemingly healthier economy ahead, suppliers are hoping shoppers will become buyers in '04.
The manner in which converters make their purchases today is very different from the past. The Internet has simplified the process enormously. Not only can buyers investigate a prospective supplier, they can attend virtual seminars or “webinars” on specific subjects related to a considered equipment purchase via the Internet with a telephone linkup. With good reason, webinars have become popular and economically priced venues for conveying, receiving, and exchanging information.
PFFC also is venturing down the webinar path. But we hope what will separate us from our competition is what we think has always defined PFFC's niche in the marketplace — QUALITY CONTENT on subjects of importance provided by experts in the field. When you add the interactivity of the Internet, you have a winning combination from the perspectives of both the participants and the producers.
Our first webinar, on Digital Flexo Plate Imaging, is hosted in partnership with Creo and will take place January 20. Expert speaker Dave Haradon, a 20+ year veteran of the flexo industry, will address return on investment, process complexity, essential workflow components, outsourcing other front-end prepress, and the time investment needed to become efficient.
As printers ponder where they next can realize the greatest savings, efficiencies, and quality improvements, this webinar promises to deliver the meat and potatoes at a reasonable price of $129 for an hour-long presentation. Gather as many people as you wish around your computer so you all can be on the same page with up-to-date information. Go to http://digitalplateimaging.pffc-online.com to escape the past and prepare yourself for the future.
Then prepare yourself for our second webinar on February 23 when Tim Walker addresses “Wrinkles” (see ad on page NPD4).
For more information on the converting industry beyond this issue's contents, visit pffc-online.com. We offer content there you cannot find here, and it is updated weekly. Once there, be sure to e-mail your feedback to me, This email address is being protected from spambots. You need JavaScript enabled to view it..
