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PLASTIC SECTOR SMES ARE DEVELOPING COMPETITIVE STRATEGIES

The growing demand for plastic in various sectors has caused the Plastic market to grow phenomenally. Be it transportation, packaging, building materials or other markets, the demand for plastic is prevalent in all of them. The growing demand is making way for innovative processes & approaches on the plastic industry.

Manufacturing strategies for the plastic industry can closely parallel strategies for other industries. Plastics from traditional petroleum feedstocks are actually considered as secondary chemical production. Plastics are so widespread in their usage that many types of plastic manufacturing companies exist. One of the most important strategies for all types of companies focuses on environmental awareness and protection. Most plastics can be recycled and reused as a raw material. The design of business strategies for manufacturing plastics can be formed around an environmental platform.

Success in the business is directly related to the efficient management of these systems. Industry leaders have developed a new Technology Road Map for the Plastics industry that projects these trends into the future.

In the plastics industry, it has been proven and generally accepted that the success of manufacturing and production functions correlates to the overall success of the company. A production function for a plastics-related company must align with the overall business strategies of the firm. Such programs can include continuous improvement of processes and procedures that will increase operational levels. Continuous improvement strategies can allow a company to produce products at higher rates, with higher quality and lower costs.

The potentiality of plastic industry India propels other associated industries to grow side by side. One of such growing industry is petrochemical industry. Both these industries are reciprocal to each other. However, petrochemical industry facilitates the plastic industry to produce plastic products that will meet the domestic demand as well as that of the overseas market.

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