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Volume 3 / Issue 20
OSHA Form 300 Requirements for 2024
Although injury reporting is no stranger to the industry, there is a new OSHA rule which will
require electronically submitted data on an annual basis from company with 100 or more
employees of their Form 300 (Log of Work-related injuries and illnesses) and Form 301 (Injury and Illness Incident Report). Those establishments will also have to provide their legal company name when reporting. The rule will go into effect January 2024.
For additional information contact your Association and/or OSHA’s website.
The Job Must Be Returned
The job has been printed and delivered. Now, the customer says that it’s unacceptable.
It’s essential that before a credit is issued or a rerun is agreed that the job be returned in
its entirety. Why? Because the client is prevented from using the job anyway while getting
it free.
It also gives us a chance to inspect the job to see what really went wrong. Of course, there
are occasions where the job is mailed by the printer before the problem is found and then it
can’t be returned. If the client mails it, he does so at his risk.
Your Opportunity . . .
Almost all printing businesses use their plant and equipment only a fraction of the 168
hours in every week. Lurking inside this reality is a fantastic opportunity to expand profits
and value.
Putting two plants together will eliminate the rent, and much of the front office and equipment costs of one of them while at the same time make fast, on-time delivery of orders
more likely because of available production hours.
Yes, there are challenges in making 2+2=5, but in the long term, making this happen would
be a winner for both parties in a buy/sell transaction.
Rising Interest Rates
With the latest announcement that the Fed is possibly planning one more rate hike by the end of the year – operative word is possibly – many business managers are wondering what that may hold in store for them.
First, the economy is strong and continues to be moving forward due to consumers and
favorable issues regarding slowing inflation, but that’s the macro picture. Some market
segments are doing well while others are looking for cover. Thus, we should take an in-depth review of the market segments we serve and look for the opportunities as well as the risks.
Second, because unemployment is low, we should review our employment practices. Are
the company’s wages competitive (within and outside of our industry)? Are we engaging with our employees to ensure we are providing a workplace which makes them want to stay – and one that will help recruit new employees?
Third, interest rates will probably stay at present levels for the next 12-18 months. Consequently, we need to look at capital investments thoroughly since internal and external costs of capital will be higher than what we’ve seen the past 10-15 years.
Finally, although supply chain worries are no longer major issues, the costs associated with
purchases of materials and supplies will be higher. This is a good time to start looking at our
supply chain and see what can be done to lower costs with present suppliers or find new
suppliers or materials which can help control costs and achieve our desired pricing levels.
Lease Financing
If you’re looking at a new piece of equipment, there will probably be a lease option on the table. Chances are that the lessor is not the firm who made the equipment. This reality can be a big problem if the equipment has problems or can’t do what it was supposed to do. Why? Because the leasing company can correctly say, “our money was not defective.” This means that you cannot withhold lease payments as leverage to get the problem fixed.
When equipment is on your floor, there should be adequate time for you test it (preferably
using independent experts). You should have a right to have it removed or repaired to your
satisfaction without charge and with the cancellation of the lease. These rights can be obtained, but the time to do so is before you sign the deal. Read the contract and get help if
necessary. If it doesn’t contain the language you need, propose it and have it included in the
final contract.
If you are purchasing the equipment to do a specific kind of work, get contract language
guaranteeing that it can do it (the sales rep’s statement “no problem” won’t cut it). You have
a chance of doing this when they’re still trying to get the order. When they’ve got your signature, you’re done.
quoins2pixels is written by Bob Lindgren and Joe Polanco.
Bob and Joe have spent decades in the printing industry, and throughout their careers,
they have counseled hundreds of company owners on a variety of management topics.
As a value-added service of Print Media Association, they are available to expand
on these articles or aid with projects.
Bob can be reached at (818) 219-3855 and Joe at jspolanco49@gmail.com.
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