A recent conversation with a couple metalcasting executives left us with the overwhelming urge to go home and stuff cash in our mattresses.
Topics of conversation:
Are we one bad market day from waving Hoover flags? Despite the conversation, this metalcasting executive was still positive about the future of his company. It’s positioned as a value-added supplier. Many long-term parts have kept the same price due to creative packaging and lean maneuvers, keeping his customers happy. Every new part is a conversion from another material or process, so the potential customer list is vast.
According to this month’s web poll, 70% of respondents agreed that judging by casting sales, the U.S. economy was in a recession. Perhaps it is time to be conservative in your operations, but weathering a recession doesn’t have to mean boarding up the windows and stocking up on canned goods until the storm passes. While you are tackling cost-saving initiatives in your facility, don’t forget about cost-saving initiatives for your customers. They are feeling the same effects you are and may be more inclined to consider that casting conversion idea you’ve been pitching for years.
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