The Potential Impact of the Ukraine Crisis on U.S. Manufacturers Posted by IndustryNet on Tuesday, March 1, 2022

The Potential Impact of the Ukraine Crisis on U.S. Manufacturers 

Posted by IndustryNet on Tuesday, March 1, 2022

Just as pandemic-related supply chain bottlenecks begin to ease, U.S. manufacturers now face an unwelcome déjà vu of global supply chain disruptions emerging from the Russian invasion of Ukraine, further underscoring the role geopolitical risk plays in the reliability of global supply chains.

The Russia-Ukraine crisis has the potential to further upend global supply chains, trigger shortages of key supplies, drive up inflation, and poses significant cybersecurity risks. The impact is already being felt in Europe, with automotive plants dependent on Ukraine-made components shutting down and the prospect of food shortages and food inflation all but a certainty.

As the world’s eleventh largest economy, Russia is a major oil exporter and supplies critical materials for a wide range of manufactured product, impacting diverse industries, from auto and agricultural sectors to pharmaceuticals. As the crisis intensifies, U.S. manufacturers should be aware of the risks and potential impact on their business.

Supply Chains Risks

Although supply chain disruptions triggered by this crisis are not expected to be nearly as severe as they were during the pandemic, there could be notable impact for some companies.

According to supply chain risk management company Interos, more than 2,100 U.S. -based companies have least one direct (Tier 1) Russian supplier. These include a small percentage of items sourced in the industrial machinery, oil, gas, steel and metal categories.

But when considering more indirect (Tier 2 or 3) supplier relationships, the impacts to U.S. companies intensify, with more than 190,000 companies in the U.S. with tier 3 supplier relationships in Russia and 15,000 tier-2 relationships.

Materials Shortages

Both Russia and Ukraine are major export markets, supplying a wide range of critical materials to manufacturers around the world. Known as Europe’s breadbasket, Russia and Ukraine make up nearly a third of the world’s wheat exports.

Here are some specific commodities impacted by the crisis:

Metal Production: The conflict is already having an impact on the steel industry, with some raw materials exporters unable to move cargo out of Ukraine, setting off a domino effect across the global steelmaking industry. Russia is also a major supplier of nickel and platinum and also controls 10% of global copper reserves.

Semiconductor Manufacturing: The semiconductor sector is already contending with pandemic-related chip shortages, leading many to ask if the current crisis in Ukraine has the potential to make things worse. After all, both Ukraine and Russia are significant suppliers of specific gases and metals utilized in the chipmaking process, oftentimes for etching or lithographic purposes. Ukraine, for instance supplies 70% of the world’s neon, used in the lithographic aspect of chipmaking. Other key gases and metals supplied in the region include argon, xenon, krypton, hexafluorobutadiene (a gas used for etching), and palladium (used in making catalytic converters).

However, these potential supply issues had already been identified when Russia annexed Crimea in 2014, leading many chipmakers to diversify their supplier base at that time. In fact, The U.S. Semiconductor Industry released a statement to this effect recently, with SIA CEO John Neuffer stating, “The semiconductor industry has a diverse set of suppliers of key materials and gases, so we do not believe there are immediate supply disruptions risks related to Russia and Ukraine.”

Food Processing: Russia and Ukraine account for 29% of the global wheat export market. Other major food exports include barley, sunflower oil, and corn. While Europe is poised to be the hardest hit, the conflict could drive up food inflation even more in the U.S., impacting processors. Wheat and corn prices, for instance, are on the rise.

Prices

The economic disruption fueled by this crisis may drive up prices even more across a wide range of commodities. Oil prices have hit $100 a barrel for the first time since 2014. The price of aluminum is up 20% since this time last year, while palladium (used in the production of fuel cells) is up 26.7% over the same time period.

Shipping

The Russian-Ukraine crisis has the potential to drive up shipping costs beyond already-elevated rates, driven by a spike in crude oil prices. Global freight rates have been dropping generally since hitting a pandemic-related high in September 2021, but the freight industry is now watching the Ukraine situation closely, with its potential to spike rates for tanker, dry bulk and container shipping rates.

Cybersecurity Risks

The crisis poses a significant cybersecurity risk to businesses around the globe, with Russian cyber-attacks expected in response to sanctions imposed by the West. Ukraine’s infrastructure has already been hit with a rash of cyberattacks. Meanwhile, the U.S. cybersecurity and Infrastructure Security Agency released a “Shield’s Up” statement, encouraging all businesses to be prepared for the increased risk of cyber-attacks. Their guidance for all organizations can be found here. CISA is especially concerned about cyber-attacks on U.S. critical infrastructure, affecting a range of critical industries, including iron and steel mills, engine and turbine manufacturers, aerospace products and transformer manufacturers.

Crisis-Proof Your Supply Chain

While no one is immune to global supply chain disruptions, securing dependable, domestic suppliers is a winning strategy for protecting your supply chains from geopolitical risks. If you’re looking for domestic suppliers, start with IndustryNet, the free industrial marketplace, connecting millions of industrial buyers with suppliers of more than 11,000 products and services. Search, sort and quote for free by starting here.

 Be the Best at Customer Service

We all work in customer service to some extent…it just depends on who the customer is.

If you’re in an office, it’s your boss who is the customer. If you’re in retail, it’s the shopper who is the customer. And the list continues. So, it bears repeating that customer service is important.

Sometimes we lose sight of the fact that our customer service skills could be honed a little bit. Or, maybe you have a new employee who doesn’t see how valuable good customer service is. Well, either way, here are a few ways to brush up on your customer service.

The Importance of Caring for Your Customers

Customer service, or customer care, is vital to us all.

It’s the difference between keeping and losing customers to the competition. One wrong move, and we might lose a valuable customer.

Customer service is how we respond to customers, and it entails a lot of duties. It’s not just how we answer the phone. It’s how we help them when they return items or when we explain policies to them. It’s also when we give deadlines or wait times.

Did you know that acquiring new customers is more expensive than keeping the ones you have?

That’s why customer service needs to be top-notch. It can’t be emphasized enough.

Customers want personalized service, and they will typically pay more for it. If your product is more expensive than the competition, but you have an outstanding customer care program, with engaging employees, you will be more likely to charge more for the same product or service. That’s how important good customer service is.

7 Customer Service Tips from the Pros

1. Greet customers by name.

Learn their names and impress them when they walk into your place of business.

2. Keep notes.

Keep a book with notes on your customers, so you remember things they told you, such as a significant event or date. Then be sure to ask about it the next time they come in.

3. Support each other.

Allow employees to share their frustrations. This will help prevent burnout and ensure they are ready to be pleasant with the next customer.

4. Respond quickly.

Be quick to respond when customers have a question, complaint, or want an estimate.

5. Customize the service, so it’s tailored to each customer.

Some people want to get in and out quickly. Other customers want to chat and take their time, so accommodate them.

6. Offer to help a customer before they even ask.

This shows initiative and evokes positive images of your company.

7. Treat customers like real people, not like a number.

Be sure to talk with them in a conversational tone, rather than like they are just another customer waiting in line.

Dealing with customers can be challenging. But when you keep your focus on staying positive and constantly improving customer service, you are sure to win over even your toughest critic.

We appreciate your business and want the chance to serve you in the near future. Check out our website today and see what we offer. Contact us today to get started! 516-561-1468 or FOR MORE INFORMATION ON ANY OF OUR MARKETING PRODUCTS GO TO: www.printcafeli.com

Are Your Meetings Worth Attending?

When asking employees what makes a meeting worth attending, 62% said “clear,” “specific,” “defined,” and “concrete” information should be given.

This may sound like basic information, but many bosses hold meetings that are contrary to these terms. So how can you ensure you’re not making this mistake?

Here are 10 tips to keep your meetings effective and productive.

10 Tips to Make Your Meetings More Effective

1. Determine why you are having the meeting.

Try to pinpoint exactly why you are holding a meeting for these particular people.

Start by identifying the purpose and desired outcomes of the meeting, then include it in both the meeting invitation and the meeting agenda.

2. Determine the appropriate attendees.

You won’t hurt anyone’s feelings if they aren’t invited to the meeting.

In fact, people don’t want to waste their time if they aren’t the appropriate people to handle the topic of the meeting. Only invite people who can implement the changes you seek or offer advice on the appropriate department.

3. Create an effective agenda.

Type up the agenda, and list the topics and the presenters. Also, include start and end times so that the meeting doesn’t go off-topic.

Send out the agenda before the meeting so that everyone is ready to contribute.

4. Vary the presenters.

By including different presenters, you will stir up more interest and invite others to engage.

Having different views and topics by different people is much more engaging, and it may provoke others to share their insights as well.

5. Take breaks.

This is the best way to keep people off their phones. A break is the best time to check their emails and texts, get a drink, and use the restroom.

6. Pass out handouts at the beginning.

Be prepared for all participants.

Don’t expect they will bring their agendas; have enough for everyone in attendance. Place the handouts at each spot around the table to minimize the shuffling of papers. 

7. Don’t recap for latecomers.

This wastes time for all who arrived on time.

No matter the reason, don’t recap during the meeting. Latecomers can catch up by reading the agenda and talking to others during the break.

8. Cover the most important topic first.

Then list the next important topic, and so forth.

This gets right down to business. It’s like reading a newspaper article, in which the most important information is given right away, and then the subsequent information is disseminated.

9. Try to hear from everyone.

If it’s a small enough group, allow for input from each person. Give time to ask relevant questions and hear them out.

10.  Assign jobs prior to the meeting.

Have someone take notes, which involves mainly writing down the main talking points and actions that were brought up.

Have a timekeeper who can kindly keep everyone on task. Have a director who introduces each speaker. This keeps the meeting organized and effective. 

These tips should help you review your meeting process and possibly improve it a little if needed. Getting the most out of your meetings will ensure more success for you personally and for your business.

Our goal is to help you be successful as well. Our printing firm knows your time is valuable, and we are here to help you streamline your business. We will get right to the point, create an action plan and get your printing done on time so you will continue to be successful. 

Contact us today to get started! 516-561-1468 or FOR MORE INFORMATION ON ANY OF OUR MARKETING PRODUCTS GO TO: www.printcafeli.com

 

How to Flourish: Focus on Personal Growth

We don’t always talk about personal growth, but it should be the topic of conversation or at least the topic of thought. How do we flourish in such a busy world? Here are ten steps to encourage your growth.

10 Steps to Encourage Your Personal Growth

Volunteer.

We don’t always want to add another thing to our to-do list, but this is important to give you a different perspective. By volunteering, you will feel good about yourself and learn new skills and get different views of the world.

Experience new things and places.

Take a short day trip on your day off. This is the perfect time to break out of your comfort zone and try something new. Enjoy learning about new places, and don’t be afraid to take part in local activities. It will do your brain good.

Prioritize your health.

Take a health journey by starting to walk, joining a gym, or taking up a new sport that you can do regularly. Your health is an important part of personal growth.

Evaluate your life.

Use a private journal, or put it in your phone or on a computer. But take time to write down what you like and don’t like about your life. This is time for complete honesty. No one but you is looking. What makes you happy? What frustrates you? What would you like to change in your life? What steps do you need to take to improve?

Learn something new.

Read books that you never thought of reading. Take a class somewhere that will stretch you. Go on a retreat to expand your knowledge.

Set ambitious goals.

Research at the University of California-Riverside found that people with loftier goals were more satisfied than those who set mediocre goals, even if the outcome was similar. Reach for something you think is a bit unattainable but doable. Don’t be afraid to set long goals that take a while to achieve.

Be a good listener.

You might want to call up a friend and practice your listening skills. Or maybe it’s at work. Focus on listening instead of what you’re going to say next.

Stretch yourself creatively.

Do something that stretches you creatively. If it doesn’t come naturally, take a painting or pottery class from an adult education facility. Or watch YouTube to follow along with an artist. Or try Pinterest for ideas on what to do. 

Don’t try to impress people.

This leads only to disappointment. Set goals that are important to you, rather than a goal that will impress others. This is key to personal growth because it’s personal; it’s not what others think of you. 

Teach others.

The best way to learn something is to teach it to others. Evaluate your skills, interests, and hobbies. What can you teach others? This will help you improve as well as help out others. 

We all need reminders to grow on purpose. If we don’t take steps to grow in our personal and professional lives, we remain stagnant.

We are always learning new things at our printing firm, and we love helping you with your goals. If you desire a more creative banner or marketing materials, you know where to go. We’re your partner in personal growth. Contact us today to get started! 516-561-1468 or FOR MORE INFORMATION ON ANY OF OUR MARKETING PRODUCTS GO TO: www.printcafeli.com

 

Re-evaluate Your Time Management Skills

 

Time management is something we all strive to improve.

When you think you have it down to a science, a big project comes along and stretches us. But we all know that time management is the key to being successful.  

These tips will help you re-evaluate your time management skills in case you have been bombarded by stress.

Delegate. Okay, we said it. Delegation is key but make sure you give the job to the right person so you don’t feel like you have to micromanage them.

Don’t multitask. It feels like we are being more productive, and people often applaud it but don’t fall into the trap of multitasking. Studies show we are actually less productive when we spread our attention among several projects. Instead, make a list of things you need to do and cross them off as you go. That way, you won’t forget a project, but you can get it off your mind right away.

Deal with stress positively. We all get stressed out at times, but it’s how we handle it that counts. Exercise helps us deal with stress in a positive way. Other ways to deal with stress: meditate, call up a friend, listen to a podcast, get outside in nature, and write in a journal.

Set both short- and long-term goals. Your goals should be measurable, specific, relevant, and time-based. For example, if your goal is to get a raise in six months, figure out the specific steps you will need to achieve in order to do this. Then tackle it head-on.

Don’t overbook your calendar. Make sure that not every second of every day is taken. You will need some downtime, as well as time for phone calls and meetings that pop up. This will help you stay on track and not get discouraged when you can’t stick to the actual schedule.

Get up early. Most successful people start their day with a little extra time in the morning. Just getting up half an hour earlier will help you be more productive throughout your day.

Take regular breaks. Schedule these in so you are sure to take them. This ensures you don’t get distracted and helps you push on when you are tempted to look at your phone. Just 10 or 15 minutes is all it takes. You can get something to drink, go for a walk, check your phone, or talk with a coworker or friend.

Say no sometimes. When people ask you to do something, if possible, examine your schedule and workload first. Don’t just take on new assignments that you don’t have to. This also applies to get-togethers as well. If you are busy, don’t feel bad telling someone you are not able to go right now. But be sure to follow up with them later when you are free.

Don’t procrastinate. This is a good rule for both the office and in your personal life. Procrastination causes unneeded stress. We tend to procrastinate when we are overwhelmed or bored. Whatever the case, try to overcome it by making yourself start right away on a task.

Be realistic in how long a task takes. If you have a task to schedule, make sure you accurately estimate the time it takes to accomplish it. Will it take an hour to write that speech? Or will it take a week? Be realistic so you can stay on track.

Time management is something we can all work on daily. It’s important to keep honing those skills because we won’t be successful if we don’t. When you work with us, we will keep you on track with our on-time delivery and great products. Contact us today to get started! 516-561-1468 or FOR MORE INFORMATION ON ANY OF OUR MARKETING PRODUCTS GO TO: www.printcafeli.com

The Power of Storytelling in Marketing

Storytelling has been around for ages.

To this day, people love stories. It unites people while stimulating imagination and passion. Although often seen as a fun pastime, stories usually have a purpose, such as sharing a message, conveying a moral, or telling history. 

Humanize the business

One sometimes overlooked use of stories is within business marketing campaigns.

Stories can be especially moving in the marketing world. Storytelling humanizes the brand, which is beneficial because people like buying from other people. The more you can humanize the brand, the better. 

Stories to remember 

Storytelling is also useful for remembrance.

People tend to remember stories better than they do statistics. Sometimes, being remembered is half the battle. After all, the marketing world is saturated with numerous businesses vying for attention. “Brands that tell more sell more.” Storytelling is a unique way to stand out. Stories take on different formats depending on their purpose. 

What is storytelling in marketing? 

Marketing in storytelling has a couple of unique features. 

Storytelling in marketing is… 

• Combining information with a narrative. It takes skill to effortfully combine relevant information into a story. But that’s exactly what great storytelling marketing strategies do. They effortlessly combine the facts with the story.
• Your brand: storytelling elevates your brand. Your brand in itself is already meant to humanize your business and give customers an idea to attach themselves. Storytelling will help you achieve this.
• About your customers. Your customers are at the heart of every story. Your main character resembles your ideal customer. The better the characters resemble your customers, the more effective your storytelling will be.
• Emotional and engaging. Stories are fun. Stories are emotional. Don’t shy away from these key components because it’s a marketing campaign. If you can add emotionality and engagement to your story, the better the story will be. Commercials that generate a chuckle or a tear are the ones that are the most memorable and impactful. 

Stories can be found in all shapes and sizes. 

• Stories can be written. Written stories are found in articles, blogs and books
• Stories can be spoken. Spoken stories are at presentations and pitch panels.
• Stories can be in an audio format such as within a podcast
• Stories can be digital. Digital stories are in videos, animations, interactive stories, and games. 

The medium in which you tell your story is important because how the story is told adds to the meaning of the story. 

How to tell compelling stories

Practice

Great storytelling takes practice.

Effectively combining your company into a story that is compelling and coherent is challenging. It takes time, patience, and practice to develop the skill. Just remember that, like everything, practice yields improvement.

With storytelling, the best way to improve is by doing. However, having a good foundation is helpful. 

Remember your basic storytelling outline:

• The introduction sets the scene and gets the audience wanting more.
• The rising action is where the conflict is set up and built. Tension and suspense are created. 
• The climax is the most exciting part of the story. The tension that has been rising bursts and the conflict emerges.
• In the falling action, things settle down and go back to normal.
• The conclusion. Every story needs a conclusion. In marketing, it is generally best if the ending is a happy one. Usually, happiness is created from your product or service. Here is the best part to include a call-to-action where you encourage the potential client to buy from your business. 

The characters 

A great story has great characters.

In marketing, the best characters are relatable. The more your potential customers relate to the characters in your story, the more they can empathize with the character’s problems. The prospective client will then see your company as a means to fix their problems. 

Try implementing new strategies, such as storytelling, to your marketing campaign to complement the new year.  Contact us today to get started! 516-561-1468 or FOR MORE INFORMATION ON ANY OF OUR MARKETING PRODUCTS GO TO: www.printcafeli.com

 

Elevate Your Marketing Campaign with Postcards!

 

Happy New Year! How crazy it’s already 2022! How was your 2021 marketing strategy? Whether splendid or slightly lacking, any marketing strategy has room for improvement.

In the new year, try incorporating (or reincorporating) direct mail marketing strategies. This long-standing proven method, with added new technology, is a perfect way to hit the ground running in 2022.

And the best part? It can start with a simple postcard.

The Many Benefits of Postcards

Postcards are highly effective.

Did you know that 86% of customers take the time to read through their mail? Due to postcards’ higher visibility, you can expect a higher response rate than any other marketing medium, along with a 70% higher brand recall.

This translates into a high return on investment.

Every $167 spent translates into about $2000 in goods sold. That’s a great investment! Increase your benefits by incorporating a fantastic postcard design. 

The Postcard Design

The postcard design is important and should complement your message and marketing strategy. Here are a few aspects of postcard design to keep in mind.

The material is part of the design, and it reflects on your company.  For example, if environmentalism is essential to your company, share that value with your customers by using recycled material. Or, if you want to send a message of quality, then use heavier material. If your postcards are high quality, then your customers will believe your products and/or services to be high quality as well. 

The size of the postcard is important too. Average-sized postcards are great and effective, but more oversized postcards will stand out due to their inherently larger nature. Try giving the 6-inch by 11-inch postcards a try. 

The two main finishes are glossy or matte. A glossy finish portrays elegance, while matte seems more professional.

A well-thought-out headline is important! You want the headline to sum up your main idea while prompting the customer to keep reading.

A call-to-action prompts the potential client to react in response to the postcard. Examples include requesting that the customer call, visit the store, explore the website, or like/follow social media.

Call-to-actions are most effective when there is a deadline associated with them. Therefore, many companies find it beneficial to offer limited-time deals. Along with driving customer interaction and sales, a call-to-action will help you determine the effectiveness of your postcard campaign for future use. 

Developing a Plan

According to Benjamin Franklin, “Failing to plan is planning to fail.” Set yourself up for success by planning your postcard campaign.

Set SMART goals. SMART goals are specific, measurable, achievable, realistic, and timely. 

Set a budget. Don’t break the bank, but invest enough to see results. 

It’s important to be aware of the static and dynamic postcard costs. Static costs don’t change, while dynamic costs depend on the number of postcards you decide to send. The more postcards you send, the overall cost per card is lowered. Static postcard costs include copywriting and design, while dynamic costs include printing services and postage fees. 

Sending the Postcards

Next, you need to decide where you are sending these postcards. 

• Send the postcards to existing customers. Given that they already have shopped at your business before, these postcards would mainly promote another sale.
• Create or rent a new mailing list. This strategy will reach new customers, generating new business. When you create or rent this new mailing list, ideally, you’re going to try to find households within your target market demographic.
• Every Door Direct Mail (EDDM): In this strategy, you mail a postcard to every household within a geographic area. Sometimes specific demographics congregate in neighborhood clusters. If you can identify your target market within a neighborhood, this strategy is useful. If your business is close to a certain neighborhood, it may be helpful to let the locals know about you, and they may love your business out of proximity convenience. 

Repeat!

Send follow-up postcards.

Potential clients need to hear your company’s message about seven times before they decide to buy. The more familiar your business becomes to the customers, the better off you are. In marketing, familiarity generates sales because people are drawn to the familiar.    Contact us today to get started! 516-561-1468 or FOR MORE INFORMATION ON ANY OF OUR MARKETING PRODUCTS GO TO: www.printcafeli.com