By Joelle Boivin, Content Writer, PMR Inc.
One thing that remains a certainty is change. As ironic as that sounds, the world is evolving, and companies must adapt to shifting markets and clientele if they want to keep up with the exponential curve of evolution. And change is the hardest concept to accept for the human brain. We are hardwired to cling to what we know because it works! We’ve tested systems and technologies, and we’ve proved that they function properly within their fields. But nothing great was ever achieved by staying static.
Since the invention of the converter, grading categories have expanded to more than 65, with thousands of serial number combinations. Converter types have expanded and been further divided to allow suppliers and processors to determine the true value of their material. And evolving along with the converter industry were the processors.
Our first big leap towards significant change in the industry happened ten years ago. Our team had noticed fraudulent cases, more precisely, money-laundering and theft. We collectively agreed to stop dealing in cash-only transactions. We saw 50 percent of our business associates close the door on our partnerships, but our commitment to responsible converter sourcing allowed us to build up ethical businesses and evolve alongside them. We created life-long business partners, helping them flourish in the recycling industry and achieve their business goals the right way.
We saw the roadblocks in the industry and worked to pave a path where any-sized recycler could deal direct and access their material’s true value. Recyclers were waiting months to accumulate 2,000 lbs. worth of material to receive payment and reinvest their dollar. Developing the industry’s lowest minimum lot requirement of 150+ units, more recyclers can now access their material’s true return, by shipping their converters to PMR, regardless of lot size. Long turnaround and settlement times meant recyclers were missing out on a high market and had to wait months before reinvesting their capital into their businesses. Our innovative technology and state-of-the-art laboratory developed the very first 10–15-day lot settlement. Our suppliers adjust their reactions quickly to any market variations, and profit from a high market as soon as it starts rising. Today, PMR suppliers have the market agility that comes from working with a processor who provides fast settlement and returns. To always benefit our suppliers, we developed free monitoring, evaluating, and pricing tools on our Supplier Services Platform. Our suppliers can track their internal inventories, shipped lots, and their invoices, helping them keep an accountable record of their operations. With pricing tools such as photo grading, VIN/TRIM, and a Master Catalog comprising more than 22,000 tested converters, suppliers elevate their competitive edge, are quicker at auction, and keep their ambitious appetite going.
With these tools, PMR’s partners develop responsibly and sustain any new legislation, helping suppliers build their businesses the right way. Always looking ahead means thinking of new avenues to innovate and evolve in. Making history this year, PMR became the very first catalytic converter processor to get an ISO/IEC 17025:2017 certification.
We believe that transparency builds and develops long-lasting business bonds that last for the years to come. PMR is a processor you can rely on and that adapts to your needs, empowering you through knowledge, innovative tools, and a desire to always help you stay ahead of the curve.