Letters/Opinion

A TOAST TO BETTER TIMES IN BUSINESS

I am elated to say good riddance to 2009 — and ready to move out of recovery mode and really make things happen!

It's time for energy, capital, sustainability efforts, people and big ideas to come together again and grow global business via the 5 Rs: reduce, reuse, recycle, redesign and re-imagine. These concepts force innovation into the life cycle of organizations, products and people and take the environmental focus to a whole new level.

Reduce: Examine your company's packaging, redundancies and areas of waste. What can be reduced without affecting service and quality? It may be time to streamline materials, handling or logistics; look for opportunities across the supply chain.

Reuse: Why throw it away if it can be recycled or repurposed? What is your company doing with respect to reverse logistics? There could be a revenue opportunity for returned or refurbished products. Inventory will take on a whole new meaning in the next decade.

Recycle: This should just be a matter of sound business these days: sustainable practices that add value and are “green” in terms of the environment and your bottom line.

Redesign: How can you redesign your distribution center or logistics network to bring new life to your business? Does your information technology need an upgrade? Or perhaps redesigning means simplifying — it varies by industry sector and company.

Re-imagine: It's time to kick-start our creativity again, since it has likely been stalled by the recession. What are the possibilities to expand your organization beyond the pure planning phases? What ideas will knock the competition off its feet? Sometimes the best business ideas begin with a spark of imagination tempered with knowledge.
JIM TOMPKINS, PRESIDENT/CEO
TOMPKINS ASSOCIATES

LET'S HEAR FROM YOU!

Let us know how we're doing.

Send us any comments on recent articles or issues, or perhaps a multichannel shopping tale you'd like to share.

HOW TO CONTACT US:

E-mail: melissa.dowling@penton.com

Phone: 203-358-9900

Fax: 203-358-5823

Letter: 11 River Bend Drive South, Box 4949 Stamford, CT 06907