Investing in change

Trade show season has always been one of my favorites. Not only do you get to share quality time with your global colleagues, but you also get to see firsthand the innovations believed to be the keys to the future.

This year’s Labelexpo Americas promises to be one of the most exciting yet, with the unveiling of a number of new production presses, digital technologies, high-tech label and packaging substrates, RFID and security solutions, and workflow breakthroughs. While some of these will become indispensable, others will fall short. Still, all will have an impact in shaping the opportunities of the industry to come. Labelexpo is about change. This may include change to improve manufacturing, productivity, marketing, workforce/workflow, sustainability, and other areas – and, more important, change to respond to the demands of customers.

Change is one of the hallmarks of our industry and a key driver of growth, thus remaining an important reason why labels and packaging continues to be a focus for investors. Change is exciting and thought-provoking. Change can tell us where we can grow and where we will decline. Seeing change firsthand can give you the fresh perspective needed to bring new value to your organization.

Over my 40-year career, I’ve realized that change – while difficult – is not simply good; it is vital. In fact, adapting to and managing change are likely the most important skills needed to build a thriving business. In order to create real solutions for emerging customer needs, you must have the ability to adapt, adjust, reframe, and rethink. Fluidity is the key that sets apart leaders from the pack.

That said, there are two basic ways to embrace change: You can ‘build’, or you can ‘buy’. Building means adding capabilities through strategic technology purchases, whereas buying means making investments in companies to gain capabilities, size, geographies, intelligence, and customer pools.

Let’s take a look at how you can approach each tactic successfully.

‘Building’ for the future

Labelexpo Americas is a wonderful place from which to start a ‘build’ strategy. When walking the convention center floor, you will observe the energy of our great industry and manufacturers’ view of future directions. Indeed, the convention floor will showcase the state of labels and packaging as they are evolving, being driven by optimism for the future and the need to remain competitive.

The show will provide an exceptional idea of what is available to your enterprise in the way of physical tools, substrates, and features to improve current products and services. It will also connect you with the hottest manufacturing equipment – such as digital presses, In-line process tracking, and make-ready solutions – to help you add capacity and capabilities.

Read the full article in L&L issue 4, 2016, and here