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PENTAGON PLASTICS | NOTICING THE IMPACT OF ECONOMIC CHALLENGE | BLOG

September 26, 2022 / Becca Watt


Here at Pentagon, we are well versed in delivering the positives surrounding UK
manufacture and our business.  We don’t often (like many people) talk about the
struggles and challenges we face.



There is undeniably a heavy grey cloud over the rapidly shrinking UK economy
just now, a culminating haze of Post COVID, and Post Brexit, impacts of war,
increased inflation, the rising cost of living, and lack of employment
resources.  This weighted mix of issues is enough to make the most grounded of
people feel a little heady!

It would be wrong not to acknowledge the multitude of businesses where the
lasting effects post-COVID proved too much to bear, and they have had to cease
trading.  It would also be wrong to say that we are sailing through the
challenging economic landscape that we all now must navigate.

The tooling arm of our business is buoyant just now, manufacturing tooling for
customers with their moulding facilities. Still, as anyone in the industry
knows, tool manufacture is often a feast or famine. Production, however, is
notably quiet, with order books currently looking lighter than we would like
over the coming months.  Indeed, this could all change at the drop of a hat, but
just now, the remainder of the year looks quiet compared to past years (even
compared to COVID years!).

Although customer communication is still flowing freely, demand for production
has certainly dropped rapidly in recent months.  As with any supplier, you are
only ever as busy as your customers, given the expanse of industries we serve,
which shows how far-reaching the economic quell is reaching.  No one sector is
stand out as engaged compared to another. Where new projects are being quoted,
price is key to getting a project over the line to order, but the cost of raw
materials continues to rise and leads times to become longer. Longer there is
little we can do not to pass these rising costs on to our customers.  Even the
powerful negotiation skills of our group buyer are making little movement on
costs!

Anyone who has worked with us will know that we are very forthcoming with
cost-saving suggestions for both mould tooling solutions by way of ease of
manufacture and component design, looking at ways to take out some of the
material cost throughout production.  Our level of customer support is something
that we pride ourselves on.

The continually rising costs across both personal and business activities are
changing our business outlook and making us more cautious about where business
funds are best spent.  While ensuring overheads and essential materials for
manufacture continue to be met, we are taking a more careful approach to
spending in other areas of the business.  We have continuously operated under
measured and considered spending. Still, just now, the reigns must be held a
little tighter as we ride out this turbulent economic storm while still
maintaining investment in the right areas to support growth.

Although current times are proving a challenge on both personal and business
levels, we remain safe in the knowledge that we are continually in a state of
flux.  We know that the landscape will inevitably continue to change but whether
it is for the better or delivers further challenges for society remains to be
seen.

Let’s not pretend we are operating in a pre-COVID world and everything is going
fine; let’s open an honest conversation and put our hand up and say it’s a rough
ride in business just now.

 

Read more news from Pentagon Plastics Group here.


Pentagon Plastics Group
+44 (0) 1403 264397
Website
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