Prosperity is not all about money. There is a science to prosperity, that science requires balance and a change in mindset. Achieve a more fulfilling life, more money and financial security, improved health and wellbeing, quality time with those closest to you and the time to live a life of balance through all things.
We all deserve to lead a life removed from the treadmill mentality, have you endured enough of this and want to take ownership of your destiny?
Increasing Cost of Raw Materials: Ram materials primarily comprise of natural rubber, crude and steel based materials which have historically experienced volatility in prices, especially during the last few months when price of domestic natural rubber increased almost 40%. Given the fact that raw materials constitute around 70% of the cost of production, combined with the manufacturers’ inability to pass on the increased cost to their customers due to intense competition, rise in prices of these materials have a huge impact on profitability.
Increasing Radialization: Unlike in the developed countries, radialization has not yet reached its dominance in India. Particularly the truck, bus and LCV segments continue to be largely a cross ply based. Despite offering higher mileage, lower fuel consumption and improved safety, radial tyres have not yet caught on primarily because of poor road conditions and high initial cost which is approximately 25% higher than bias tyres. Moreover, the two important raw materials required for producing radial tyres (Steel Tyre Cord and Polyester Tyre Cord) are not manufactured domestically. Moving towards radialization will be vital if tyre producers want to protect their share in international markets. As of 2008, radialization as a percent of total production in passenger car tyres, LCV and heavy vehicles was 95%, 12% and 3% respectively.
Silk Screened (Conductive Ink)
This contact type is incredibly versatile since the ink can be screened onto virtually any sized contact switch area. The contact resistance for this type of contact is low at first, but as the microns-thin ink wears away the resistance becomes increasingly higher. Because of this factor, conductive ink does not enjoy the same longevity as the carbon pill. It may be the best electrical solution for your particular application, however, and in this case it would be an excellent choice.
Invest in your people as you grow, they need to feel valued, they need to understand where they fit into the bigger picture. Talk to them and show genuine interest, listen to any concerns they may have, and do your best to deal with them It is also important to take on board their ideas and suggestions, remember they are closest to your customers. If you don’t value them and they know it your business will suffer. They are your frontline.
Global Expansion: Several manufacturers are now moving global and are setting up manufacturing bases overseas. After acquiring Dunlop three years ago, Apollo Tyres recently acquired Vredetein Banden in Europe. JK Tyres acquired Tornel, a Mexican company last year to penetrate into American tyre market.
Despite these challenges, according to CARE Research, while the industry may register a tonnage growth of only 4.27% in FY09, the long term prospective seems to be bright. They expect the industry to experience a CAGR of approximately 8.21% between FY08 to FY13. Automotive companies have started experiencing increasing sales and raw material prices are stabilizing which will boost tyre sales over the coming months. However, experts suggest there will be some time lag before profitability picks up as tyre manufacturers are still carrying high cost inventories
Resource Author Francisco Rodriguez Higueras
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