“It May Not Be Broke, but You Still Need to Fix It”

“Our industry is changing”…”globalization is impacting our business”… “Eco-environmental friendly products are becoming more popular with the consumer.” While many of us have heard and read these statements thousands of times during the past several years, what is perhaps more disturbing to me is knowing that there are companies in this business that continue to operate the same way they did 30 years ago. Yes, it’s human nature to think if one does something well, he/she will always do it well and remain successful. Unfortunately, in today’s marketplace, that mentality will get one nowhere other than out of business sooner rather than later.

The demographics of this membership are not the same; therefore, this organization is not the same as it was 30 years ago nor does it pretend to be. While it might disappoint some companies, there is no reason this Association should have to apologize for changing with the times. During my 17 year tenure with NAHM/THA, I have learned that it is far easier to gain knowledge of the global business environment, anticipate how it will impact the membership and offer proactive solutions rather than focus on the present, hope that business might return to the way it was, and consistently try to implement reactive defense strategies. The latter scenario can be best compared to having a terminal illness which ends with a slow, painful death.

THA Chairman Bill Nichol’s theme this year addresses value. What can this organization do to add value to its members? It is my goal, my mission to lead this Association forward and provide its members with the tools they need to remain competitive. Based on the recent membership survey, individuals were asked to identify the most important areas facing their companies that the Association needs to address for the future.

The top 5 areas of concern, in order, are:

1. Lobbying and trade—international trade legislation, regulatory issues, globalization, China

2. Promoting domestic products, influencing retailers to buy American

3. Public relations—influencing consumers and reversing the declining consumption of sheer hosiery

4. Improving operations—social compliance, supply chain management, technology, leadership, increasing labor pool and recruitment

5. Financial concerns—rising costs of healthcare and insurance, social security

THA is addressing these issues, and I encourage you to actively participate and continually ask us questions. The following are examples of some of the services we are offering to address member’s concerns:

• Product liability and restricted substances lists are growing, and you need to know how these changes will impact your businesses.

• Do you know what REACH is and how it will impact your global supply chain?

• Statistical information (domestic and global) along with the newly added consumer insights data will enable you to better understand what the consumer is looking for and more effectively determine the types of products that will sell.

• THA is in discussions with WRAP to offer training programs for companies for social compliance audits. Its goal is to work closely with the retailing community to gain a wider acceptance thus reducing the need for numerous audits thus reducing costs.

The Association’s tool box is being re-stocked with items that are designed to reinforce company’s strengths as well as give them the knowledge to move ahead of the competition. The choice is yours.