How did the water treatment industry do under the seemingly endless influences from the pandemic, war, and high inflation? In the post pandemic era, what strategies should businesses adopt? As the global community slowly gravitates towards coexisting with the virus, the leading metal water storage tank manufacturer, TankPAC sees the potential for the water treatment industry to finally turn crisis into opportunity.

TankPAC is valued for its technical competency and integrity. The company offers water treatment filters and housings, RO water storage tanks, and RO plasteel water storage tanks. TankPAC has been a trusted partner and a loyal friend to customers in Europe, America, China, the Middle East, and Africa. As a matter of fact, export orders kept the company afloat when local demands dwindled drastically in the past few years. Vice-President Lo Wei-Chiao admits, "Taiwan companies did suffer economic slump, especially in the low-end market."

Component suppliers in Taiwan struggle to fight their counterparts in China and Vietnam. Some of these foreign suppliers manage to dodge standards and regulations and bury the market with recycled commodities that are usually cheaper than the new ones. Information asymmetry creates an imbalance of power in transactions and customers cannot make informed decisions for they are not able to identify the material used in certain products.

When MIT system suppliers also succumb to the pressure of competition and start importing cheaper components from other countries, customers begin to lose faith in the brand, consequently damaging brand image and reputation in the high-end market, creating more challenges for export trades.

To Lo, the chaotic situation arises because no effective and unanimous accreditation and certification system is instituted in Taiwan.

Products imported to the US and the European market must be in conformity with NSF, WaterMark, and WRAS standards. The entry threshold is high, and exporters are required to invest a great deal of money and time to ensure everything is in order. This blocks out most of the Taiwanese brands. Unfortunately, though Taiwan also adopts NSF standards, the government does not require importers to submit necessary certification as validation. Cheap products that are of low quality come pouring into the market. Once a price war is triggered, bad money drives out good and local suppliers will struggle to keep their market share.

Lo pointed out that "the government and the industry should gather forces to establish an accreditation and certification system to promote brand image. This is a great opportunity to build a solid foundation, seek transformation, rise above the vicious price war, and head down the path to value creation."

Since ESG has become the priority of countries around the world, the water treatment industry should pay attention to more than just cutting down costs and maintaining good water quality. Packing materials, consumables, product disposals and waste management should also be taken into account. In compliance with global trends, a company needs to prolong the life cycle of products, reduce energy consumption and limit carbon footprint. In the end, ESG management helps the company improve quality, lower costs and create better marketing strategies.

At this precarious moment, TankPAC believes that action speaks louder than words. The company rethinks product design, and updates manufacturing machinery and equipment to minimize energy consumption and recycle thermal source. After all, amelioration is part of the business DNA. One thing that never changes is TankPAC's commitment to quality. Lo believes that "we may not have the power to change the global market, but we can change how we position ourselves in the global supply chain." Lowering the price is not the solution TankPAC is looking for. Instead, the company values investment, development, challenge and communicating with clients. It is crucial to prolong the product's life cycle, reduce waste, and, at the same time, remain competitive in price. Harmonious and steady customer relationships are testimonies to the promises the company made to itself and the world.

Lo stresses that, "trials and tribulations are precious experience and potential opportunities." Water resource is vital to the environment and sustainability. Unsafe drinking water can cause health issues, therefore, must subject to higher business ethics. If we are able to establish a comprehensive accreditation and certification system and foster a healthy competitive mindset, we will embark upon the transformation from improving the quality of water to improving the quality of life.