Time to TIGHTEN UP

VALUE-DRIVING EFFICIENCIES FOR MANUFACTURERS & DISTRIBUTORS

- DAMIEN MARTIN

After hot markets for manufacturers and distributors in 2022-23 as the world rebounded from the pandemic, there’s been a cooling off that looks to continue into the new year. During the boom times, it’s all companies can do just to get products out the door and into the hands of eager customers. When markets start to soften, it’s time to renew focus on efficiency, says Iggy Domaglaski, president and CEO of industrial products and services provider Wajax.

"We look at sustainability in a whole bunch of different lenses. I don't think it's just one thing."

“Often when you think of sustainability, you might think of it as an added cost, but I think there’s a lot of ways where building a sustainable supply chain that’s responsible can be a value-driver and even a cost-reducer,” Domaglaski told BOSS. “If you’re able to recycle more of your materials, that would normally be scrapped, there’s money to be saved there.”

THE LITTLE THINGS

With lots of layers to a modern, global business, there are plenty of opportunities to look for efficiency-driving innovations in supply chains, IT systems, reporting, and distribution. Finding those edges is what will place or keep organizations in front of the competition.

“How do we do things that cost a little bit less while at the same time are not bad for the environment?” Domaglaski said. “I think those two things have to exist side by side.”