~ Byron Loeppky, Friesens VP of Books
Every successful business looks for ways to improve in efficiency, technology and innovation. Think of it in terms of throwing a tennis ball in the air. There are only two directions it can go – up or down – it does not float or remain motionless. In a business sense, if you are treading water, you are probably losing ground because you have only two directions to go – forward or backward, better or worse. Competition in business is a continuous cycle of doing more, doing better, improving on yesterday.
This relentless pursuit of innovation and technology comes in a variety of forms:
- Acquisition – buying equipment to replace the aging and obsolete – this means research and investigation to determine the type of equipment that best suits our vision, our needs and financial capabilities
- Internal Improvements – the processes we use, ways we do things that continue to evolve, and allow us to become more efficient
It’s important to have this mind-set because it’s how we survive. Book manufacturing is a capital-intensive business and if we ever fell behind, it would be difficult to catch up. This is why our philosophy over the years has been so appropriate – to re-invest in the business as much as we can reasonably afford because ultimately that is how we protect the company and our employee-owners.
This mind-set also gives us an edge over our competitors because the quality and technology of our equipment is among the industry leaders. Investing when times are a little tougher has created buying opportunities that would not normally be there. Fortunately, Friesens has been in a good position financially for many years which has allowed us to use our cash balance as a way to leverage buying opportunities for ourselves.
We recently returned from DRUPA, a trade exhibition in Dusseldorf, Germany, where we spent three days visiting with many experts and leaders in the printing and graphics industry, showcasing new trends, technology and equipment. In doing this, we continue to refine relationships with our existing vendors while building new relationships with potential vendors. We recognize that our efforts may yield: “9 misses and one hit”. But when all is said and done, that one hit might just prove to be a home run!
The Challenge of Consolidation
Consolidation is one of the bigger challenges in our industry. We’ve gone from having four or five equipment options to just one or two. Reduced variety means we are essentially limited in our decision-making process. Yet, competition drives us to excel, just as it sharpens vendors’ focus on customer needs. Our existing relationships are very important and leveraging known partners helps us avoid poor decisions.
Strategic Equipment Evaluation
Every business must assess its market, objectives, and equipment fit. Our unique and innovative press usage sets us apart but return on investment matters. In the case of our new HP Inkjet press: while similar options abound, we evaluate its fit for our customers. The HP50000 digital press, is more unique due to its size and the quality it can achieve, but it may not suit all businesses. Homework and market exploration guide our choices, ensuring we invest confidently in our future.
Another piece of technology that we are excited about is the new Timson Press. In 2014 Timson Inc had gone out of business due to a lack of press sales at that time. However, Timson engineering continued to exist, and they had the ability to manufacture many different products aside from printing presses. A joint venture between CPI and Timson resulted in press manufacturing beginning again. We have the privilege of now owning the first Timson (LED) Press since 2014 with all new electronics, software and a faster ink drying process – using lights instead of an oven (which the old presses used). Another benefit from this press is that it will be approximately 10% faster and will be painted a beautiful Friesen-ish Blue! To put it into perspective, there are approximately 230 Timson presses in the world right now all using outdated technology, while our customized Timson Press positions us as a market leader in 1/1 web printing.
The Sustainability Conversation
In the world of printing, a delicate balance exists between efficiency, profitability, and environmental consciousness. The challenge lies in reconciling these seemingly conflicting goals.
At times adopting environmentally friendly practices comes with a cost premium. Businesses must evaluate how to pass along the extra expense. Additionally, while some existing technologies lack eco-friendliness, viable greener alternatives have yet to be fully explored. Striking the right balance between durability, practicality, and environmental impact remains an ongoing opportunity. We look forward to future innovations that can offer improved environmental sustainability.
Evolutionary or Revolutionary
Circling back to our visit to DRUPA, one of the things that stood out the most was the focus on automation. Interestingly, this is one area that sets us apart as we’ve already implemented automated machines like cobots and robots on our production floor. So, we are now looking for the next thing that we can differentiate ourselves from the rest. Our goal is more focused on technology instead of actual vendors and looking ahead 5 – 10 years to foresee where we are heading in terms of matching our vision with the right technology. As technology continues to evolve, we are better able to meet the needs of our customers.
It’s not in our nature to boast about our achievements or our position in the technology landscape, but we do take pride in the recognition we receive from others. Our longstanding industry partners have acknowledged our technological advancements and strategic investments, placing us at the forefront of our field. We take those compliments in stride, because at the end of the day, a critical aspect of our success lies in never becoming complacent or think that we finally “made it”. Our commitment to innovation drives us forward, whether through acquisitions or internal processes. Our ERP system, a significant initiative, promises to be a game-changer. Our ultimate goal is to keep the momentum going, like a tennis ball in motion, always ascending and progressing.
Did you know:
- …there are 4 HP Indigo 50000 presses in the world and Friesens has 2 of them?
- …there are 8 hardcover binding lines in Canada and Friesens has 3 of them?
- …Friesens has one of the 3 (2 functioning) 73-inch presses in the world?
