By David Callif, President of BCM INKS
Happy New Year! As we enter 2011, I thought it would be a good time to look forward. Therefore, this newsletter will focus on the eleven trends that we anticipate will affect our businesses in 2011.
Our Eleven for ’11 are as follows:
- Social media will begin to transform the way we communicate and conduct business. Do you have a LinkedIn, Facebook, and/or Twitter account?
- Sustainable business practices will be adopted by more companies. KPMG International found in a survey conducted in 2010 that “the demand and preferences for sustainable business processes is becoming a part of the global business environment”. One respondent with a long running sustainability program reported a payback of $1.50-$2.00 for every $1.00 spent.
- Color consistency across all brands and printing methods will become more critical. Consumer Product Companies and Retailers are aware that consistent identifying color makes it easier for the consumer to find the brands.
- Raw Material prices will increase. This will be especially true for petroleum based products. Look at lightweighting and petroleum based product alternatives.
- Paperless invoicing will become the norm rather than the exception. Billentis, the Swiss payment services provider, predicts companies can save up to 2% of revenues by completely replacing paper processing of invoices with automated processes. (Source: Paint & Coatings Industry October, 2010).
- Companies such as Walmart, Target, Home Depot along with Procter & Gamble, Unilever, Kraft Foods, ConAgra, etc. will emphasize their scorecards. However, they will attempt to improve the flow of information through involvement in the Global Packaging Project (GPP) and Global Data Synchronization Network (GDSN).
- Product innovation will become more important than ever. Companies have seen the results product innovations such as the iPad produce.
- Face to face business meetings will increase after a decrease in 2008/2009.
- Response time to customers’ requests will compress.
- The internet through webinars and new more interactive websites by suppliers, educators, and trade associations will become a primary source of industry education. (Be sure to visit BCM’s updated website at www.bcminks.com to see one example of what’s possible)
- Efficient product delivery will become absolutely necessary as the price for gasoline and diesel fuel rises to new levels. If you haven’t already, look into the latest ink blending systems by BCM. They’ll reduce the need for frequent ink delivery.
This is our short list for 2011. We know there are more trends. Therefore, we’d like to hear from you. What trends do you see? Email your responses to email@example.com and we’ll share them in our next Ink Link newsletter.
“Where Green is More Than a Color”