Challenges and Opportunities
Economic pressures and high-potential technologies are two facets in a spectrum of positive and negative factors confronting the tag and label industry.
“As the demands become greater, it will be even more important to specialize and concentrate on what you are good at. Being a generalist will be more difficult in the future,” he continued. “So, alliances between converters and suppliers will be more important than ever.”
Strategic outlook
A smart business strategy will be key for label converters to handle margin pressures and increasing global competition. Staying abreast of market trends and being able to react to them, thinking low-cost, and offering a high level of service flexibility are three main approaches to business that Reardon suggests for label converters.
- Companies:
- Little Joe® Industries
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