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Plastic Compounding Market is projected to grow at the fastest CAGR of 6.7% through 2019– 2026

Allied Market Research published a report, titled, "Plastic Compounding Market Forecast by Polymer Type (Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride (PVC), Polystyrene (PS) and Expanded Polystyrene (EPS), Polyethylene Terephthalate (PET), Polyurethane (PU), Acrylonitrile Butadiene Styrene (ABS), and Other Polymers) and End Use (Automotive, Building & Construction, Packaging, Electrical & Electronics, Medical, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global plastic compounding market was estimated at $565.41 billion in 2018 and is expected to hit $932.33 billion by 2026, growing at a CAGR of 6.4% from 2019 to 2026. The report offers an in-depth analysis of top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

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Increase in production of lightweight automobiles and surge in infrastructure development have fueled the growth of the global plastic compounding market. On the other hand, high prices of plastic compounds and harmful impact of VOCs present in the coating hamper the growth to some extent. Nevertheless, advancement in filter material technology is expected to create multiple opportunities in the market.

The packaging segment to rule the roost-
Based on end use, the packaging segment contributed to more than one-third of the total market share in 2018 and is expected to retain its top status during the forecast period. This is owing to the increased customer focus on hygiene, protection, contamination, and ease of transportation. The building & construction segment, on the other hand, is anticipated to grow at the highest CAGR of 6.7% during the period 2019–2026.

The polyethylene segment to grow at the fastest rate-
Based on type, the polyethylene segment is expected to grow at the fastest CAGR of 6.8% during the study period. This is attributed to its superior qualities such as high resistance to heat, impact resistance, and durability. Simultaneously, the polypropylene segment held the largest share in 2018, accounting for nearly one-fourth of the total market. Its large use in the packaging and automotive industry has driven the growth.


Asia-Pacific to continue its dominance till 2026-
Based on geography, the Asia-Pacific region garnered more than two-fifths of the total market share in 2018 and is expected to dominate throughout the forecast period. Cheap labor cost, low setup costs associated with manufacturing units, and low cost of plastic compounding raw materials in the region have spurred the growth. Europe, on the other hand, is projected to grow at the fastest CAGR of 6.7% through 2019– 2026.

Key market players-
Leading market players analyzed in the report include BASF SE, Celanese Corporation, SABIC, Covestro AG, Kingfa Sci. and Tech. Co., Ltd., Solvay SA, DowDuPont Inc., Asahi Kasei Corporation, PolyOne Corporation, and LyondellBasell Industries Holdings B.V. They have adopted a number of high-end strategies to heighten their stand in the market.


About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Consultants for UK Unmarried Partner Visa in India
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Significant COVID-19 Impact on Level Sensors in Semiconductors & Electronics Industry
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However, the demand for the level sensor has drastically increased in automation industries with large-scale manufacturing and storage of liquids or powdered materials. Level sensors play a crucial role in effluent tanks for wastewater management, distribution of clean water and pump stations for irrigation systems, increasing demand in the market. Also, the increase in demand of level sensors in the oil and gas sector has raised the market's growth. STRATEGIC DECISION BY MANUFACTURERS AFTER COVID-19 Manufacturers are making many strategic decisions to come back to the market post-COVID-19. The companies are conducting many research and development activities to improve the technology involved in level sensors. With this, the companies are bringing more advance and accurate sensors to the market. Also, the use of advanced level sensors by government authorities in water management has led to the market's growth. 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Riveting Productivity & Time Tracking Tools
Employees and managers use productivity & time tracking tools to keep track of working hours for payroll, billing, and other activities. These tools allow the enterprises to estimate budgets, better productivity and ensure transparency and accuracy by notifying them about time-consuming and costly tasks through the dashboards. There is a steep rise in employee productivity monitoring software tools, especially during the COVID-19 outbreak when companies need to oversee better and evaluate the remote workforce. Market Growth As per Introspective Market Research, the global time tracking software market is expected to reach USD 1785.36 billion by 2026 from USD 425.32 billion in 2019, at a CAGR of 22.36%. Need of Employee Time tracking software Many companies are still using conventional paper timesheets for time tracking, due to which buddy punching and time theft are major concerns in such organizations. Almost 75–80% of businesses are affected by time theft, due to which companies are shifting towards the online automatic time tracker app and tools. As per statistics, on average, employees spend nearly 2 hours per day overcoming distractions at work, and approximately 90% admit to wasting the time of an organization. Time tracking tools remove the risks of time theft and buddy punching, thus contributing to better employee productivity and enhancing employee performance and engagement. But it is not a simple task to select the best tracking tool from the different tools available in the market. Check the complete list below - 1. WorkStatus WorkStatus is an online time tracking tool that provides an excellent medium for individuals and organizations to enhance employees’ productivity. It majorly focuses on delivering reliable & secure solutions that enable customers to focus on their core business objectives. Let’s have a look at some of its features below- · It gives you AI-powered time tracking with online timesheets · Track real-time progress with employee monitoring software · It allows you to create Geofences with a GPS time tracker · It enables you to define budgets with project budgeting 2. Hubstaff Hubstaff is another excellent productivity monitoring and control tool designed to improve time management for staff. It has dedicated web, mobile, and desktop apps that can be used to monitor invoicing, appraisals, and attendance via a single platform. Let’s have a look at some of its features below- · It has a compliance management module · It shows the browsing history of employees · Idle time monitoring & activity tracking · Automatic time capture 3. Time Doctor Time Doctor is a perfect application for hybrid work models and distributed teams. It can be easily deployed through cloud, desktop, and mobile apps. It comes with a robust support team that gives live training via documentation and videos. In this way, it helps companies to boost their productivity. Let’s find its unique features below- · Calendar management & browsing history · Invoicing & billing management module · It allows you to manage billable & non-billable hours · Automated time capture Conclusion We are now on the same platform to understand that time management tools at work can effectively boost a team’s overall productivity and streamline the payroll process. It is now self-explanatory to realize the worth of productivity monitoring tool and the need to implement the same in businesses and organizations. Sign up for the online time tracking software here. Read More : 8 Riveting Productivity & Time Tracking Tools
What COVID-19 Impacted on Cleaning Robot in Semiconductors & Electronics Industry ?
Impact of COVID-19 on Cleaning Robot in Semiconductors & Electronics Industry ANALYSIS ON IMPACT OF COVID-19 ON THE MARKET The pandemic started with its epicenter in China in 2019 and has been continuously spreading by then to all over the world, so far 216 countries and territories have been affected with Covid-19, the U.S. being on the top with cases reaching about 4.38 million, followed by Brazil, India and then by many European countries such as Russia, Spain, Italy, and others. The COVID-19 cases reaching to the big named countries with strong dominance in the global market which has adversely affected the economy globally. The spread of the coronavirus has led to the global recession, many companies are being bound to take stringent actions of laying off their employees, small businesses are being shut, and manufacturing facilities are being put on hold. There has been a disruption in the supply chain of many industries due to restrictions in logistics and the closing of manufacturing facilities. In addition, the slowdown in the economy has lowered the spending capability of individuals and people are saving money for emergencies. However, now almost in every country, the factories are started to reopen by taking some prevention such as 20% -50% employees on the field, social distancing, extreme hygiene measures, and others to support the economy. It is supporting the economy and helping to lower the recession rate at a certain level. COVID-19 highly impacted the personal and domestic cleaning robots market due to the recession gripping the world and a decline in disposable income, the demand for personal and domestic robots declined. Also, the behavior of the individuals has certainly changed in the pandemic, people are now more concerned about their health and spending for future use due to incurred losses which lead to a decrease in the sale of cleaning robots. However, cleaning robots have a huge demand in the healthcare sector. During the time of social distancing, hospitals are demanding mobile robots integrated with UV-C light disinfection equipment to sanitize the wards and rooms to minimize any physical contact. For instance, In June 2020, According to the founder and chairman of Milagrow Robots, there has been a huge surge in demand for floor and window cleaning robots. The total sale is expected to be 300,000 to 400,000 cleaning robots in 2020 when compared to 10,000 cleaning robots in 2019. STEPS TAKEN BY MANUFACTURERS DURING COVID-19 SITUATION As the COVID-19 crisis continues to expand, makers would possibly face challenges on varied fronts. Producing firms would be searching for immediate measures to stay their workforces safe and their businesses solvent. Makers would conjointly have to be compelled to look on the far side of their economic viability. Because the COVID-19 pandemic intensifies, makers would possibly face continued downward pressure on demand, production, and revenues. They would continuously face cash-flow liquidity challenges and difficulties in managing debt obligations. In December 2020, LG Electronics announced the launch of the autonomous robot with disinfecting UV light for various B2B applications. This robot uses ultraviolet (UV-C) light to disinfect high-touch, high-traffic areas and is designed for hospitality, education, corporate, retail, restaurant, and transportation customers to reduce exposure to harmful bacteria and germs The pandemic may drive the enhancement of automation, digitalization, and artificial intelligence (AI) in almost all sectors. In a situation like social distancing automation and robotics could reduce dependence on human labor and increase productivity, preventing the chances of losses. The pandemic has boosted the growth of healthcare industries. As people need to maintain physical distancing, manufacturers can gain the advantage of this norm to address the mass public in hospitals and crowded places. Manufacturers were engaged in product development with advanced technologies, partnerships, and collaborations to gain a competitive advantage in the market. For instance, In January 2021, SAMSUNG announced the launch of new AI-powered robotic vacuum and laundry products. The new JetBot 90 AI+ features smart technologies that optimize the cleaning route and respond to its environment. The JetBot 90 AI+ is the world’s first smart robotic vacuum that helps to automate home cleaning in these Covid times IMPACT ON DEMAND The behavior of the individuals has certainly changed in the pandemic, people are now more concerned about their health. The government is also working on research and development to develop a vaccine and avoid any further pandemic as such. The government is using augmented and virtual reality for the known disasters which can help in reducing the effects of the disaster. The pandemic has boosted the digital transformation of industries, companies are focusing more on a digital platform to interact with their clients and customers. The pandemic has brought a huge demand for cleaning robots to ensure safety as COVID-19 has put cleaning and disinfection front and center in facility maintenance and at other places. Huge adoption of technology, automation, and smart buildings is gradually increasing the scope of growth for the cleaning robot market. IMPACT ON SUPPLY CHAIN The pandemic has brought a huge impact on the supply chain of the cleaning robot market. The logistics and transportation of assets deteriorated a lot. The supply chain was adversely affected as the lockdown prevailed in many regions globally, the government has limited the workers. Companies are making their operations work according to the government regulations by making limited workers work in different shifts. The supply chain is experiencing disruption in Chinese parts exports, large-scale manufacturing interruptions across Europe, and the closure of assembly plants in the U.S. The manufacturers were facing a shortage of raw material, shifting of production to other countries, liquidity crunch to delays in availability of models, and deferred launches. However, now there is an improvement in the supply chain as most of the facilities and travel restrictions have opened and working in most optimum capacity. CONCLUSION As the Covid-19 prevails the cleaning robot market has witnessed a gradual increase in the demand for cleaning robots and services. Most of the manufacturing facilities were closed bringing down the production of cleaning robots which leads to disruption in the supply chain. However, as the markets are getting digitally transformed and people are being more reliable on digital sources the market seems to be growing. Organizations operating under this market were building up new strategies to maintain all the safety measures at facilities and focusing on technological up-gradation to boost the growth of the market. Even after the pandemic automation of industries will continue to increase which acts as a major driver for the market. Growing demand from the healthcare, media & entertainment, and retail sector will act as a major boosting factor for the growth of the market in this pandemic.
What is Amazon Web Services and why is it so successful?
What is Amazon Web Services and why is it so successful? The world of the web is expanding radically at a fast pace. Amazon web services is also one of those, which is a cloud computing platform designed by Amazon.com which has captured the whole e-commerce market. If you look at the current situation, AWS is playing the role of a frontrunner as compared to other cloud computing platforms. It comes with several advantages, such as: It is more reliable. It is flexible in nature because of its plans and structures for cloud computing. It acts as the best cloud computing platform, and it also provides services for networking, mobile development, email, etc. Compared to the other competitors, it controls or captures almost a third of the cloud market. Take AWS Training in Noida Cost saving is the niche. Depending on the customer's usage, its cost and revenue differ, and small businesses get real benefits from the service of cloud computing. It acts as the best platform for the newly-started from the bottom level, as they provide the equipment required over there. Also, their migration costs are also very low as compared to other competitors'. AWS also puts resources into action. Due to its usage flexibility, customers never need to think about the usage of computing. Moreover, the company provides some extra benefits to the customers so that they will stay with the company in the long run. AWS offers scalable solutions. Somehow, there is a need to build a huge physical storage space for the companies that are planning to have a large amount of storage. To store this huge amount of data in the cloud, it is necessary to make a contract for data storage after paying some initial amount. The same rules are going to be applied for power computing. Also, Check AWS Course in Pune With AWS, companies are not going to pay extra charges; they pay only for the data space they utilize. There is no extra cost and no minimum usage limitation to build the storage system. There is a simple rule that says the quantity in use; the customers need to pay for that usage only and no extra cost is there. Startups and small businesses that require cloud computing storage enjoy the services of AWS as the cost of bearing the services is very low as compared to other competitors. AWS has a world-wide network of data centers where the customer’s data is stored and monitored with high security. To figure out the potential attacks and stop the hacking procedure, the data centers strictly maintain security procedures for the cloud data of customers. Ref: https://www.apsense.com/article/what-is-amazon-web-services-and-why-is-it-so-successful.html
What Skills Required to Become an Ethical Hacker?
What Skills Required to Become an Ethical Hacker?, Do you want to become a certified hacker? Do you want to protect your website and your system? How about introduction an innovative career in the domain of expert penetration analysis or ethical hacking? If so, Ethical Hacking is the best course for you. The Ethical Hacking Course is planned for learners with no previous knowledge who want to become professional hackers. The great update is that you don’t essential previous programming or hacking knowledge and accept you’re beginning from scratch and by the end of the Hacking course you’ll be at a middle level, being able to secure your system and your data from cyber-attack. The change is, you’ll be responsibility it for the decent of your company. You’ll help from the credit that comes with being skilled in this high-demand in cyber security field. What Skills Do you Prerequisite to Become an Ethical Hacker? If you need to study ethical hacking from scratch, then you need to must learn about the basic ethical hacking skills for this role. We can distribute the essential skills desired to become an ethical hacker into two types skills required for hacking: Soft skills Hard skills For Soft skill you need to some important soft skills to become to a professional hacker are problem-solving skills, persistence, creative thinking, analytical skills and communication skills. On the other hand you must have a general understanding of computer and IT skills and technology. The protruding hard skills for an ethical hacker are: Security concepts, Database skills, advanced TCP/IP, virtualization, cryptography, networking skills, web applications, & concepts, knowledge with Linux. Beside with these ethical hacking skills, you need also have outstanding programming skills as you’d be working with diverse programming languages. Keep in your mind that ethical hacking is a very skill-specific field and your salary would be contingent essentially on your knowledge and professional experience. Upgrade Your Skills and Win the Fight against Cybercrime In the conclusion, the risks are very high. Cyber security Projects expects that the yearly world-wide cost of cybercrime is estimated to exceed $7 trillion by 2021. With that background, cyber security groups must take the inventiveness to fight hacker understanding with hacker awareness and build the skills with Ethical Hacking. If you want to learn hacking from scratch to advance level, it would be best to take an Ethical hacking course in Hyderabad. SSDN Technologies is Advanced Ethical hacking Certificate Programme in Cyber Security will teach you all the essential ethical hacking skills and topics you want to become a professional hacker. You’ll get to learn openly from industry experts through classroom and online training.
Is Dissertation the Same Thing as a Thesis?
You would wonder if there's a difference between a thesis and a dissertation. Though they seem similar to each other due to their approach, these two have differences. Yes, people use dissertation and thesis interchangeably sometimes and often confuse the same. But there are some differences between both of them, which everyone needs to understand. The papers- thesis and a dissertation- contain the same structure: introduction, literary review, body, conclusion, bibliography, and appendix. But, apart from that, these two terms are different and contain different guidelines. This article will guide you on whether a thesis is similar to a dissertation or not. Let's address the similarities and differences between a thesis and a dissertation. But before that, we need to understand what these two terms mean? What is a Dissertation? Which Course Needs Dissertation Writing? When pursuing a PhD, you will have to conduct your research. After that, you need to write an academic paper at the culmination of the PhD program, which is the dissertation. A dissertation is a lengthy research work that will be your research work throughout your program. Usually, students can earn their PhD after they submit and defend their dissertation. It is original or expanded research on an existing or a new topic that a PhD candidate conducts. What is a Thesis? How Crucial is it for Earning a Master's Degree? A thesis is a research paper. But, you need to work on it when you are pursuing a college master's degree program. You will have to submit your thesis at the final terms of your master's degree. It is an academic paper that lets you showcase your skills. Thus, you can show your expertise and skills on the subject matter of your master's degree. Hence, it is different from a dissertation according to courses. Now, let's discuss the similarities between a college thesis and a dissertation. Then, we will move on to their purposes and differences between the two. Similarities between a Thesis and a Dissertation: Several similarities are present between a thesis and a dissertation. Due to such similarities, people sometimes use them interchangeably. As you already know, both are research papers conducted for specific courses. Other than that, the similarities between the two include: A college thesis and a dissertation are research papers for the final project for students in graduate programs. They have to submit it by the end of their programs to earn their degrees. A dissertation and a thesis paper need proper research. Also, both need an accurate and deep understanding of the topic or research problem. The students must look into specific research questions for both the thesis and dissertations. Students must follow ethical practices while collating and documenting their research data in a thesis and a dissertation paper. Whether you write a college thesis paper or a dissertation paper, you need adequate academic writing skills, which add some similarities to these terms. In both a thesis and a dissertation, plagiarism is not accepted. Your paper may get disqualified if there's any plagiarism in it. Before submission, both thesis and dissertations need effective and efficient editing and proofreading. Students need to have proper analysis skills for both thesis and dissertation to support their findings. The basic difference between a Thesis and Dissertation The distinction between them lies at the time of its completion. A thesis ends at the end of a master's program, whereas a student does a dissertation during a PhD program. Let's check out the other differences between a dissertation and a thesis. The most crucial difference between a dissertation and a thesis is that a thesis is research on an existing idea. Meanwhile, dissertation research is research on a new concept that the student needs to defend. With a thesis, you can show the knowledge you gained throughout your master's program. Whereas through a dissertation, you can contribute some new ideas or knowledge to your field. When writing a dissertation, you have to develop your new idea or concept and prove that it's valid. But, a thesis is a research on an existing concept or idea in your field. A dissertation is much longer compared to a thesis. A thesis usually has 100 pages. But, dissertation research contains more information and background knowledge compared to a thesis. It also requires more pages. In a dissertation, you have to include your research proposal, literature review, grant proposal, research topic creativity, and other details on the topic. Comparing a thesis and a dissertation in terms of length is three times lengthier than a thesis. Difference between a Thesis and Dissertation- Location wise: Both a dissertation and a thesis are different in terms of location. In different locations, people use these terms differently. Hence, locational differences can also inform you whether these terms have similarities. We will discuss the differences between a dissertation and a thesis in the USA and Europe. USA: A thesis is a long research paper that graduate students perform to earn a university or college degree in the USA. Meanwhile, a dissertation is a long research paper that students perform for a higher college or university degree. The students submit a thesis to earn a master's degree and a dissertation to earn a doctoral degree. The students don't have to perform original research and work based on previous and existing ideas in a thesis. But, a dissertation needs original research on the subject that also contains new ideas of the student in their field. In the USA, a thesis is shorter than a dissertation. Dissertation research requires much more results and takes more time compared to a thesis. Europe: Europe has the reverse idea of both a dissertation and a thesis compared to the USA. In Europe, a thesis is a long research paper for students to complete their original research and ideas of the field they are undertaking. On the other hand, a dissertation is a long academic research paper that students write, especially for a university degree. In Europe, a PhD requires a paper having new concepts or knowledge based on a student's original research. On the other hand, a master's degree requires a paper that contains knowledge and information based on existing ideas. Usually, a dissertation revolves around one particular question, whereas a thesis contains each chapter for a separate research topic and methodology. The time required for both a thesis and dissertation is different here. You can perform your research and analysis for several months for a dissertation. But in the thesis, it takes a much longer time, and it can even reach 2-3 hours, depending on your research time. The essential purpose of thesis papers is that a thesis aims to understand a student's knowledge of their field. The student has to research an existing concept done by others in the same field. On the other hand, a dissertation aims to understand whether students can develop something new in their field of study and conduct original research. These papers require intense research, analysis skills, time, and effort since they are lengthy and informative. Hence, these papers can show whether the students have effectively mastered the knowledge of their programs and are capable of receiving their degrees or not. Conclusion Both a thesis and a dissertation seem similar. However, both these terms have different purposes and help attain different degrees. Hence, we can say that a thesis and a dissertation have similarities, but you cannot interchangeably. A thesis is for a master's degree meanwhile a dissertation is for a doctoral program. Here we can see how much difference they have in terms of the purpose. Several differences exist between dissertation help research and college thesis in structure, location (USA and UK), length, and many more. We have discussed all such differences in this article. Yes, these terms may have some similarities in terms of points. But you shouldn't use one term for the other as they have different ideas, guidelines, and uses.
Understanding Locks With Master Key System & Why You Need Them?
Have you ever opened the main door of your house but forgotten where the garage door key is? Or left for a vacation and realized that you forgot to give the gardeners a key to your house? Even if these specific situations may not have happened to you, everybody has at some point in their life lost a key for a specific place, or room, or appliance. Easy solutions to losing keys are by having locks with the master key system in your house. This article will explain what locks with the master key system are and how they can benefit you. What Is a Master Key System? Locks with a master key system can use a selected number of keys to open multiple refitted doors. This key plan allows individual easy access to all places within the premises of a home. For example, if the housekeeper has a key to the main door, they can also use the same key to unlock the garage. A lock with a master key system helps save the cost associated with replacing locks due to misplaced keys and helps maintain better control over the house as the number of keys in circulation greatly reduces. The master key system can be especially beneficial in emergencies. How Does the System Work? Let's take a housekeeper's example to better understand how locks with a master key system would work. First, a "master key" is made to open all the locks within a house and access all doors within the premises. Before understanding the detailed process of the master key, you must know that any key that works on two or more locks is called a master key. Well, when it comes to the look and design of the master key, then it looks like any other key, but the differentiating factor is the cuts on it, or it is stamped as “GGM” or “GM” or “A”. Another notable point about the master key is that you can easily duplicate it like any other key. Usually, tiny pins, coded by different colors, sizes, and shapes, are inserted into the cylinders as per the codes assigned to that cylinder. But when it comes to the master key, it will work when the lock cylinders have master pins in them. When these master pins line up in the key and lock, it turns freely, so the lock opens. Features: Most master key systems offer the following services and have the features listed below: ● A lock with a master key system is usually tailor-made for the specific requirements of individual clients so you can find the one that fits your needs perfectly. ● These keys find a multitude of uses. It can be used in various establishments like buildings, office compounds, houses, residential areas, commercial complexes, etc. ● Most locks with the master key system are flexible and change according to the dynamic requirements of the establishment. ● Using the master key also reduced the number of keys in circulation helps decrease the cost of key replacements. ● Most locks with master key systems use cloud-coded key clips for designated areas to avoid confusion and increase efficiency. Conclusion- There are many benefits of getting locks with a master key system. You can save time, money, and effort on finding keys and planning a system for its circulation by outsourcing this to specific service providers. Your requirements and type of space can be specific, and locks with a master key system will find a way to suit your needs perfectly.
How To Avoid Business Failure in Any Crisis?
There are unpredictable reasons for the business success and survival i.e. both external and internal factors. A large number of business failure and success depends on the problems defined externally. Most small business owners have limited experience in management while tend to have technical or professional skills. This can result in subsequent reversal of the fortune in the widespread business failure. Everyone including suppliers, investors, employees and customers lose when a business owner fails. According to the recent stats and figures: ➢ 90% of the business failure results due to cash flow problems ➢ 80% of the business owners serve 2 years in business, 50% of all businesses form it 5 years, 30% sustains 10 years ➢ 50% of business owners strike cyber-attacks, only 20% of small businesses rates their ability to mitigate vulnerabilities, cyber risks and highly effective attacks Internal causes of Business failure – • Lack of management • The deficit in invoicing • Incompetent sources of finance • Poor debts External causes of business failure - • Strict governmental measures may affect specific sectors of business activity and impose a stringent burden on SMEs. • The bankruptcy of Main Customer or Supplier STEPS THAT WILL STOP BUSINESSES FROM FAILING – ✓ Passion in business is important ✓ Look out for more questions ✓ Running a Beta Test ✓ No Fool-proof ✓ Manage cash flow ✓ Plan for the future Plan and forecast your business with proper account receivables, reports and keep track of inventory turnover and operating margins. Handle the business metrics like a pro by choosing an Online Invoicing Software like Invoicera. Invoicera offers the following features to all business industries – ▪ Online Invoicing ▪ Online Payments ▪ Staff Management ▪ Time Tracking ▪ Financial Forecasting ▪ Expense Management ▪ Credit Note Management ▪ Subscription Billing Try Invoicera for Free - https://bit.ly/3jEd3pD Read More : 6 Amazing Ways to Avoid Business Failure in Any Crisis
Significant Impact of COVID-19 on Bulk Material Handling System in Semiconductors & Electronics Industry
COVID-19 Impact on Bulk Material Handling System in Semiconductors and Electronics Industry The lockdown situation during the COVID-19 pandemic has highly impacted the global economy. Most of the governments from different countries imposed a lockdown to break the chain of coronavirus spread. All companies related to various industries have been shut down except a few dealing with COVID-19 operations such as pharmaceutical, essential goods and services and the food industry. As a result of the COVID-19 crisis, many bulk material handling companies throughout the world have had to either temporarily close or reduce their workforces to prevent the spread of the virus. Through worldwide shortages of goods, it soon was apparent how important the world’s manufacturing and warehouse productivity is to the economy. In the bulk material handling system market, the business impact eventually proved to be less severe than first anticipated once lockdowns and restrictions were lifted. Nevertheless, the limited access to customers’ sites affected both capital and aftermarket sales of suppliers throughout the year. The COVID-19 pandemic highlighted that automation is needed for supply chains to increase efficiency. During the recent period, very few percent of supply chains felt fully prepared for the coronavirus impact. However, the bulk material handling industry can develop this situation with innovation, automation and perseverance. AFTERMATH OF GLOBAL BULK MATERIAL HANDLING SYSTEM MARKET COVID-19 pandemic affected a wide range of industries, from small to large manufacturing companies. It hampered the worldwide demand for solutions in the bulk material handling system market up to a certain extent. Limited workforce and operational restrictions negatively affected the product development life cycle. But at later stages, when lockdown restrictions were lifted, demand got stable up to a certain point. The companies developed different strategies and technologies specific to tackle problems that occurred because of the COVID-19 pandemic. For instance, · Daifuku Co., Ltd., a material handling company, stated some measures and strategies to overcome the challenges faced during the COVID-19 pandemic in their annual report 2020. To prevent the spread of COVID-19 and maintain distance from one another required a new approach to service activities for systems post-delivery. Accordingly, they are working hard to use the Internet of Things (IoT), artificial intelligence (AI) and information and communications technology (ICT) to establish material handling systems that never stop or that will be able to recover immediately even if blocked. They will continue to support stable operations of customer facilities by introducing new technologies and services, including remote operation, while ensuring the lives, safety and health of employees and their families. Likewise, many companies have started introducing new technologies and methodologies in the COVID-19 situation to remain better positioned in the market. Losses during this period can be overcome in the future by taking this slowdown to redesign and refresh the business processes and logistics operations. OPPORTUNITIES FOR THE MARKET IN COVID-19 SITUATION Market players have an opportunity to upgrade their operations and prospective for the betterment of their companies. Automation is the key to success in this unpredictable world. Different crises, labour shortages, natural disasters impact a lot on every industry. So being one step ahead of time and understanding the market well will ensure the success of the market player. In this COVID-19 pandemic, many companies adopted process automation and customization as an opportunity to survive and grow. Some of the instances are mentioned below: § Automation to overcome labor shortage: Though recent events have worsened the labor gap, the labor shortage is not new for many industries, as more workers retire and skills requirements increase. Automation offers solutions to some of these problems. Automated Process Equipment Corporation provides solutions and services for bulk material handling companies to overcome labor shortages during this pandemic situation. Super sack handling, accurate measuring, automatic routing, easily reprogrammable controls and electronic record keeping are solutions that will improve automation and reduce the dependency on the massive number of laborers. § Customized Solutions for Booming Market: KWS Manufacturing Company Ltd. partnered up with Coperion K-Tron to provide the solution for the world’s most significant high-density polyethylene and polypropylene suppliers, which is used in consumer and industrial goods ranging from plastic bags and bottles to N95 medical masks and face shields. Due to the increased demand for polyethylene and polypropylene, expanding the client’s extrusion line required new loss-in-weight additive feeders and a mixing screw conveyor. KWS and Coperion K-Tron sales and engineering teams collaborated to ensure the extrusion line expansion would be successful. IMPACT ON SUPPLY AND DEMAND COVID-19 has disrupted the supply chain on a global scale. International trade restrictions and customs regulations resulted in longer wait times and a lack of capacity for long-haul deliverables. During this pandemic, the demand for bulk material handling solutions decreased because of the limited access to customers’ sites. This affected both capital and aftermarket sales throughout the year. Most of the companies faced challenges in managing on-time project completion and order deliveries. However, many companies took this to redesign their operation and logistic models with digital capabilities to increase operational efficiency and effectiveness in such a period. For instance, · ThyssenKrupp AG Company adopted the digitization of their business processes and supply chains in 2019-2020. Their focus was on the introduction of automation solutions which included the new mobile app “Paperless”. This app allowed digitizing day-to-day processes in warehouses such as bookings, preparation of work schedules and material identification. It also created the conditions for using other automation solutions, such as driverless transportation systems, to be used in a new state-of-the-art logistics center for ThyssenKrupp Schulte. Such positive changes and automation in the supply chain will enable the companies to emerge stronger and supply chains that are more resilient to future disruptions. CONCLUSION The global bulk material handling system market suffered losses during the recent period because of COVID-19’s negative impact on global demand and supply chains. Yearly sales for the market-related products got hampered due to limited access to customer’s sites. But relaxation in lockdown regulations after few months helped the market to somewhat come back on track. However, many companies started building new technologies to overcome supply chain problems in pandemic situations. They adopted digitization and automation in day-to-day business processes and supply chains. Although it will take some more time for companies to come back on track, this period made everyone realize the need for up-gradation in many business aspects.