With 2020 almost drawing to an end, prices of nearly all volume resins have seen a significant north way movement barring PE whose course was relatively looking stable through the year up until now. But, recent news of global disruption in supply has seen the price of PE showing a dramatic increase causing a flurry in the market. In a short span of time polyester prices have already gone up and are showing strong indications of a further surge due to an acute shortage of Pure Terephthalic Acid (PTA) and Mono Ethylene Glycol (MEG). With an already volatile global market, it has been nerve-wracking to get packaging production and logistics in place. With this unfortunate rise in price, the packaging industry has been hit hard and it doesn’t sound like good news. With 25 years of experience in the flexible packaging industry and serving the FMCG sector, I have witnessed many volatile situations where internal and external factors have caused undue performance pressures on the company. Here are 4 top ways I take leadership in my stride and put my best foot forward in the middle of a storm.
1. Tough situations don’t last, tough people do – Most businesses encounter ups and downs. It is up to us take the bumpy ride in our stride and steer to stability. We have to acknowledge the difficulty of the situation and accept it as a challenge. The one with the maximum grit and perseverance will emerge the winner. We, at the Montage Group, are determined to last the bleakest of weathers and march on.
2. Come out honest with your customers – A good leader is one who respects the well-being of his clients. It is important to cultivate a proactive culture of developing the best interest of customers at heart. We, at the Montage Group, have been transparent and honest with our customers about all major economic developments. Even in this situation, we have kept lines of communication clear by encouraging all our clients to place orders in advance as the times might only get tougher in the coming year. It’s our good luck that our clients trust us in totality and place their complete faith in us.
3. Planning, Planning & Planning – While we cannot predict the external forces, we can plan and optimise the internal resources to the best of our ability. At Montage Group, we always have invested in maintaining a strong buffer raw material stock for our clients to ensure no disturbance in logistics and supply in difficult situations. We absorb the peripheral pressures without bothering our clients.
4. Leverage on strengths – We, at Montage Group, have a wide geographical spread and strong national presence in a way that can ensure coverage to the tiniest of the village in the shortest possible time. We leverage this vast and expansive infrastructure to service our customers to complete delight. Their convenience is of most importance to us and we move from strength to strength paying attention to minute details of perfection.
Running a business is a roller-coaster ride. There are ups and downs, twists and turns but the thrill is in hanging in there. It is important to acknowledge the situation you are in. Sometimes people try to stay in denial when they face a tough situation and that’s how things begin to fall like a pack of cards. Face it or Fold. The choice lies with you! And when it comes to choosing a dynamic organisation like Montage Group with multi-location manufacturing facilities and a customer-centric support system you know you have your eggs in the right basket.