USING PROPRIETARY INFORMATION AS A COMPETITIVE TOOL

The saying “If you cannot measure it, you cannot improve it” holds as true as ever. Measuring the competitiveness of your raw material costs compared to others and where they should be is impossible for processors because those invaluable metrics for thermoplastics do not exist. What is available is often inaccurate and not applicable to 99 percent of the buying community.

Lexicon’s proprietary Integrated Thermoplastics Database (ITD) is a custom-built cost benchmarking software platform developed in-house, backed by thousands of hours of research and industry expertise. It monitors millions of pounds of raw materials transacted by date, type, manufacture, product code, color, release quantity, annual volumes, and price. The ITD, coupled with real-time market data, is an essential tool that assesses cost competitiveness and identifies ongoing areas for potential cost savings.  

We also need to take a very close look at the current supplier’s level of integrity and close any gaps between your needs and their intentions and actions to align them with your stated aims and purpose. I’ve seen it all, and you may be surprised at some of the ill-intended “happenings” from within that have or are causing harm.