Thousands of families and businesses have seen their lives significantly impacted by the recent storms in Texas. The tape and adhesives industry is among those feeling the effects of the damage in the aftermath. Continue reading to learn how this could impact your company’s material costs!
At the Englewood Company, we help companies across America optimize their production processes, cut waste and inefficiency, and boost their bottom line by putting our decades of experience in tapes and adhesives to work. We help businesses identify the most effective kinds of tape and adhesives for their specific applications. In the aftermath of the Texas winter storm, we’re helping companies adjust to changing conditions in the tape and adhesive industry. In today’s blog, we’ll be discussing exactly what’s going on in the industry, how it stands to impact your business operations, and what you can do to respond. Keep reading to learn how we can help you manage the upcoming changes!
Several of the leading tape and adhesive manufacturers in America purchase their raw materials from production facilities in Texas, and many of these facilities endured significant damage from the winter storm that ravaged the state. As a result, the supply of tape and adhesive products is anticipated to be significantly impacted, and the prices of tape and adhesive products are expected to increase as a result of this significant reduction of supply.
How Tape Production Slowdown Stands To Impact Your Business
The state of tape and adhesive supplies moving forward, for the foreseeable future, isn’t going to be a toilet-paper-in-quarantine situation of regular shortages, but your company should expect to see higher prices for the tape and adhesive products you use regularly in production. Tape and adhesive production facilities are expected to be impacted for some time as producers of these raw materials adjust to make the repairs needed to get production back up to full strength. Your company should plan to account for this change in your materials budget for at least the next fiscal year.
How You Can Adjust
Amidst this period of change, there’s a silver lining to this — this situation underscores the importance of choosing the right kind of tape for your company’s specific needs, not just the cheapest tape available. It’s the perfect time to move beyond the strategy of simply seeking out the lowest-priced tape and evaluate your production processes. For instance, how much is it costing you to do business the way you are now? How much money are you losing to waste or inefficiency that could be saved with an adhesive solution better fit to your team’s specific needs? Tape is far more than the sticker price, and taking the time to find the right tape solution for your company’s purposes will save you far more money over the long term than simple bargain hunting.
Find The Right Tape For Your Needs Today
Not sure where to begin? Englewood Company is here to help. Proactively respond to rising material costs by leveraging our expertise to invest smarter in tape and adhesive products for your company. Connect with our team today — we’ll help you find a solution.