The pandemic has struck a huge and impactful blow to the industry. However, there have been various changes in people’s lifestyles and a change in their needs during this time as well.
For the cable and wire industry, the pandemic has been a disguised boon. During the coronavirus pandemic, the whole world had to work from home. Be it CEOs or be it the children in school, everyone resorted to the internet for getting things done. Paraflex, which is among the top 10 wire brands in India, has taken up various measures.
As a result of which there has been a massive upsurge in demand for various products such as copper line cables. Since everyone seeks good and uninterrupted internet connectivity, the wire and cable brands in India have to gear up their production and distribution.
The rising volumes of the market demand are being strategically managed by the wire brands through enhanced production and various other needful operational changes to meet the call of the hour.
The New Normal for the Wire Industry
Paraflex, which is among the top 10 wire brands in India, has taken up various important measures and significantly changed its operational models by incorporating various new modalities:
- To meet the high surge of demands, they have increased manufacturing
- The brands are also paying attention to the best-fit distribution model.
- For sales and revenue maximization, the cable and wire brands are devising new ways to manage the inventory. A proper record and tracking of the inventory along with real-time stock visibility are extremely important to cater to the consumers uninterruptedly.
- To meet the consistent upwelling demand the wire brands have increased their production with affordable material pricing.
- They have come up with numerous lucrative and affordable price packages for the consumers
Some Major Post-Pandemic Changes in the Wire Industry
There have been plenty of significant changes in the Wire Industry during the post-pandemic situation. Paraflex, which is eminent among the top 10 wire brands in India is efficiently handling the current scenario. Let us have a look at some of the most important changes:
- Enhanced Cable Digitization
- Increasing demand for the cables and wires in the rural markets
- High growth in the user and subscriber base
- The growing reach of the Media
- Easy credit system enabling people to buy high-end cable and wire products
With the recent incentive of the Government of India for electronics manufacturing companies under the Production Linked Incentive (PIL) scheme, the brands have been able to boost the domestic manufacturing units with a considerable inflow of funds. With the rising demand for various new types of fibers and cables, the wire brands have to cut down on their operational cost and streamline the money into valuable research and development segments. With the PIL scheme of the Government, they shall be able to manage things better.