Interest rates rising, inflation, low unemployment, the working world is in a bit of a mess right now.
As a business leader, you watch the news, listen to “informed input”, ask a mentor, and come up with a posture you want to operate under until the waves subside and storm clouds pass.
Here at PlastiCert we have been watching the economy and the business sentiment reflected in our customers’ forecasts as well as supply chain communications.
We feel we are in a good position to weather stormy seas yet still meet our customers’ needs. Our balance sheet is strong, our Accounts Receivable is under control, our backlog extends into 2023.
We recently ordered another injection molding press (55 ton), installed a new sign out in front of the building, and secured practically all our raw material supply for the remainder of 2022.
Watching the financial news channel this morning, a CEO being interviewed said something to effect of, “business downturns and troubles are good, it weeds out the less viable and weaker companies”. Thinking back to the recession of 2008 and the recent pandemic slow down, I would say that is an accurate statement.
We here at PlastiCert, since our MBO in 2011, have made it a priority to have a healthy balance sheet, minimal if no debt, and the ability to slow things up immediately if the business climate warrants it.
PlastiCert tracks over 40 different operational and financial metrics that are compared to internal and external standards regarding performance and financial health.
PlastiCert will be around for the long haul to service our customers’ needs as required. Have you checked on your molder’s financial well-being? If it is of concern, give us a call.