A strategy process based on unparalleled knowledge
How can a plastics manufacturer survive and thrive when price pressures and rising material costs are driving down profits even when productivity is increasing?
The plastics industry and strategy planning experts at Plante Moran can help you develop a successful strategy based on solid knowledge of the industry and your place in it. Our strategic planning services team will develop a competitive profile of your company by comparing it to other plastics manufacturers in key areas like production volumes, value per unit of sales, pricing and payment issues, operational data, human resources statistics, and financial performance.
Benchmark against industry standards
As part of our strategic planning consulting services, we will benchmark your operation against the industry-wide standards and metrics identified in the current North American Plastics Study. The study, which we have been doing for more than a decade, is considered the industry’s most in-depth benchmarking survey and links performance and profitability. In 2008, more than 172 companies representing 244 facilities in a broad array of processes participated in the study.
You will benefit from knowing your company’s competitive position, both within the industry and within a specific market segment. We’ll help you pinpoint your strengths, weaknesses, opportunities, and threats.
Strengths, weaknesses, opportunities and threats
We’ll help you examine your administrative practices, manufacturing operations, engineering, and sales and marketing. We can help you find opportunities for growth and value by determining if you can sell more to current customers or exploring new markets for your existing products. If it seems appropriate, strategy planning may involve considering developing a new product to offer your existing customers or introducing a new product into a new market.
As part of our strategic planning consulting, we’ll also help you decide how to react to increasing use of electronic bidding. And we’ll help you look at internal processes that can be improved to help you reach your profitability goals.
Critical factors to profitability
For instance for one client, we determined that critical factors to reaching the company’s profitability goals included:
- Targeting new customers within a 300-mile radius of the plant
- Aggressively addressing low profitability customers
- Bringing overhead costs in line with current volume
- Reducing shop floor costs
- Streamlining management structure and improving accountability
Database on plastics industry transactions
Clients appreciate the focused, expert advice and assistance they receive from the Plante Moran strategic planning consultants dedicated to serving the plastics industry.
If your strategic plan demands financing or possible alliances, mergers, or acquisitions, you can depend on the counsel of P&M Corporate Finance (PMCF), a Plante Moran affiliated entity. PMCF maintains a proprietary database indexing plastics industry business transactions – mergers, acquisitions, divestments, financings, capital raising, strategic alliances, and joint ventures. They are well versed on the breaking trends and market forces in the plastics industry.