The wood panel industry is now going through few structural changes where there is a tremendous need of improvement in daily practices of business owners. The need of 3Ms were never felt so badly before, so far as I have seen during my last two and half decade in this industry.
The need of good and sustained supply of MATERIAL is very evident in timber, chemicals and paper segment. The crisis of timber is so scary that there does not seem to be any significant relaxation till early 2025. The supply chain imbalances is pushing the enterprises to create a clear cut procurement and purchase policy and set finished goods prices on that basis.
The requirement of good professionals who are committed for growth and carrying ethics along integrity is so much so, that we keep answering entrepreneurs calls every day, just to help/solve this biggest puzzle of growth. Getting efficient MANPOWER and retaining the team along with ensuring that they remain ethical and efficient is getting costlier and trickier day by day
Even if a company establishes very good plant and MACHINE, it is not certain that it will cross over the cruel competition in almost every sector. Writing truly, I feel the biggest challenge for growth is good team led by a visionary leader. Without that, one just can’t sustain the enterprise to next generation.
When I look back, I find so many companies, who are joined by next generation but their foundation is actually fragile. Foundation in most of the wood panel and furniture industries means plant design and MACHINERY, goal and ethics led MANPOWER backed up by skills, and the most important is the clarity in choices of choosing suitable and sustainable raw MATERIALs.
The foundations are actually considered as financial strength which I feel has important role but without the above 3Ms, it’s totally incomplete. In our wood panel industry, the successful and large enterprises would never have become where they are today.
Strengthen the base with 3Ms and clear vision before next generation blame you for not doing things till you are in charge.
Also join us in our upcoming conference and exhibition at Pragati Maidan on 2, 3 and 4th September, where you will network and learn more.