What are the Challenges Faced in the Cable and Wire Industry?
With our decades of experience in the cable and wire industry, we would like to share bitter truth about the industry - such as the challenges that are faced in the industry.
Are you ready to know? Let’s begin.
Increased Raw Material Prices
One very common challenge is volatility in raw material prices. The rise in the prices of raw materials (copper, zinc, aluminum, and copper) carries a critical impact on profit margins. Apart from this, the wire and cable industry solely depends on imports from Russia, China, UAE and Japan. So, the exchange rate variations have a considerable impact on the industry. Delays in executing projects because of a range of approvals and clearances required, and the shortage of manpower become all major impediments to the growth of the industry.
One of the prime reasons for our brand reputation is the counterfeit products of our real products. It hits our brand reputation. The demand for our wires and cables could be at stake. Due to fakes replicas of our product, we’re sometimes fearful of losing customer trust in our brand.
Local and regional regulations affect varied aspects of the manufacturing process, such as using certain materials, disposing of waste, exposure of workers. Manufacturing is believed to be a harsh environment. That’s why we ensure the safety and health of workers by taking proper care and using innovative technologies. This allows us to contribute to a healthier environment.
Keeping Product Relevant
Innovations in products come at varying paces and we struggle to keep up with them. The preferences in products change fast. So if we do not use updated technologies and hire experienced engineers, then we may end up delaying product manufacturing and delivery. Since our aim is to provide only quality products to customers, skipping even a single step on quality materials poses a great risk. To meet this challenge, we have fixed an adequate amount of time to make sure that the quality of raw materials and modern technologies are in line with the demand for wires and cables.