July 15, 2021
The printing industry, just like all other global industries, is also affected by the crunches and economic hardships affecting global corporate firms nowadays.
The printing industry is mostly affected now by the rising popularity of the internet. The broadcast industry, for the past few decades have dominated the whole media universe.
That is why when revenues of broadcast companies started falling in the past couple of years, people and companies around the world were taken in awe and disbelief.
Why? because the present people, probably including you, have grown up sitting in front of the television. People in these times have grown and become TV addicts.
For decades, TV has dominated and taken most of the advertising revenues. The radio industry has taken the second pie of the chart and the printing industry the least market and advertising share.
Hard times for the printing industry:
Obviously, the printing industry is the hardest hit by the emergence of the internet. The least ad revenue share once enjoyed by the printing industry is now made even smaller.
All the companies around the world are living out the hardest of all times today. The printing industry is sure the hardest hit by the popularity of the online media.
Revenues and profits of printing industry firms are significantly falling and declining. That is why every month, you probably are hearing or reading news about job cuts, mergers and acquisitions, bankruptcy and selling off of many companies that belong to the printing industry.
It is basically the hardest time for the printing industry. It is most of all made worse by the current economic events and problems that are not unique to the printing industry.
Companies from around the world, from all industries, are now adopting the techniques and principles of lean manufacturing.
Lean manufacturing refers to the set of strategies and techniques implemented in the work place that aim to reduce, significantly cut down, operating costs and expenses of companies.
There are seven identified wastes that lean manufacturing intends to eliminate in the work place. These seven are identified as: over processing, over production, motion, transportation, waiting, inventory and scrap and defects.
Each waste contributes to the losses the companies incur with much quantity. Quality of outputs of companies are also lessened and sacrificed. What is worse is that competitiveness is much affected also. Indeed, the prevailing time is characterized by the cliché “survival of the fittest.”
Lean Manufacturing and the print industry
Lean manufacturing may be the last hope for the printing industry. Because of the promises, the forecast and expected savings companies can reap from implementing lean manufacturing principles: the printing industry is believed to be the most and primarily boosted and lifted up by the lean manufacturing approaches.
The printing industry has somehow turned into a damsel in distress. With the lean manufacturing, figuratively, its knight in shining armor.
The manufacturing industry is benefiting from the gains and advantages of the adoption of lean manufacturing techniques. The printing industry, obviously, will also have the same gains some experts believe there will be much more.
It is about time printing industries now implement lean manufacturing techniques on it’s own. For sure, lean manufacturing adoption will not make the printing industry outpace or displace the online industry. But one thing is for sure.
Lean manufacturing will surely help print industry players last and out live its destiny. It is said that printing industry is not meant to last longer. It can be true because the time and technologies have evolved along with people’s preferences and interests.
The printing industry surely needs its redemption factor. This is the opportunity it has been waiting all along. The opportunity to generate savings reduces operational costs and improve efficiency and competitiveness, all rolled into one single package. Lean manufacturing is the best means to lift up the printing industry.
TAGS : Printing Industry