Naturally, PMC is affected by trends prevailing in the surrounding world. The same applies to customers, suppliers and competitors. The Group has identified two overarching trends that are central to PMC's development and strategy.
New markets are emerging, keeping pace with more open political attitudes in the world and expanding trade. Globalization means that PMC and the Group’s customers get new markets and new competitors. The Group’s suppliers also get new competitors that may become part of PMC’s supply chain. Globalization also implies the need for start-ups on customers’ new markets. The rules of the game are changing rapidly, and only those players that are flexible and able to react quickly will be successful.
Accentuating global competition and customer needs are pushing companies in the Nordics and the rest of the world to strive continuously for rationalization, shorter lead-times, greater delivery precision and cost reductions. Delivery precision and quality must be equal regardless of which of the supplier’s sites the item is manufactured at.
This is managed best through collective, effective processes and quality systems. As above, cost reductions may partly be realized through effective processes but also through technical redesigns and the introduction of new components and suppliers.
This becomes especially apparent when Western companies start production in new growth markets like Asia, for example. To be competitive for the long term requires products that are developed for the local market, with local staff, local design, local components and local production. This also means that previous purchasing patterns break down, and new ones are created.
Western companies with ambitions of taking a larger share of local growth markets have to develop their offerings. This may mean different technology and technical performance, but also lower cost and price.