Surviving the next recession
The US economy has recovered quickly from the covid pandemic, but the surge in demand has stressed supply chains and caused inflation to rise sharply. Inflation continues to hover above 6% but the Consumer prices have decreased by a mere 0.1% in December, based on the last report by the Bureau of Labor Statistics. This is positive news for the consumers, but the decrease is so dismal while the sustained pain of rising costs continues to affect consumers.
Although the outlook is positive, other risks might impact development, creating a slowdown or stagnation in the economy. The ongoing war in Ukraine, the possible recurrence of shutdowns in China, global warming, and a looming economic recession. These are all factors that might continue to affect inflation keeping it high. The longer the inflation stays high, the higher the risk that inflation expectations move up. This then feeds back into higher wages and prices. The federal reserve is trying to take stronger monetary actions by raising interest rates, but they risk lowering growth and causing higher unemployment.
Rising raw material prices
The current economic situation has a significant impact on the manufacturing sector. These include rising raw material prices, rising shipping costs, high energy costs, rising wages and salaries, and a labor shortage. All these challenges are impacting the margins and raising the concern about pass-through costs which will lead to high product prices. At Boston Industrial Solutions, Inc., we are looking for creative ways to avoid raising product prices and help our customers lower their productions cost creating a win-win for all. Our goal is to help our customers grow their business and increase profitability with less resources. We are using science and technology to engineer sustainable inkjet, screen, and pad printing inks that use less resources. Additionally, these cutting-edge inks print on multiple substrates.
Our TP Series ink is a perfect example of that innovation. This plastic pad printing ink is a 1- or 2-component all-purpose ink. It adheres on 98% of all plastics, metal, wood, leather, synthetic leather, paper, etc. Not only does this ink print well but also has high gloss, high opacity, excellent printability, and is nontoxic.
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Multi-substrate pad printing ink
This multi-substrate ink innovation approach has helped our customers to minimize their product printing cost, production cost, and labor cost. The feedback we have received from our customers underpins the benefits this ink offers. These include cost savings and the ability to run a lean printing process. Our competitors offer a specific pad printing ink for each substrate, which require customers to stock different series of ink. Stocking different inks for different substrates adds cost to production, introduces chances of errors, and increases inventory. Additionally, it adds labor cost associated with hiring and training new and existing employees for each ink series. Multiple ink lines increase learning curve duration which in turn results in high labor cost, which reduces profitability. Learn more about pad printing ink.
The challenge of remaining profitable in during this inflationary time is a struggle for every manufacturing and printing entity. As a result passing costs to customers is not the solution, this lowers demand and slows down consumption. We must continue to innovate and find cost-cutting approaches without compromising quality. At Boston Industrial Solutions, Inc., we are aggressively looking for ways to solve our customer’s printing challenges and improve their margins. Visit our website for more details on our products and technologies.