Randy Cowley is owner and president of Palatec Manufacturing in Fayetteville, Tennessee. The company has two locations: one for building new pallets, the other for pallet recycling operations. The facilities are managed by two of his three sons.
Pallet Enterprise: What is the best piece of business advice that you have ever received?
Cowley: Never let your mad get in front of your money.
Pallet Enterprise: What is one thing you do at your company that is different from other pallet companies?
Cowley: I am not sure how different we are from other pallet companies, but we still cater to small orders because that is how we got to where we are now. We learned early in business that diversity is key to surviving changes in the marketplace and economy.
Pallet Enterprise: What is the most important lesson you’ve learned about customer service?
Cowley: I was taught two things at my first job at an early age, working in a fast-food establishment: the customer is king, and service should be given instead of having to be asked for.
Pallet Enterprise: What is one of the hardest business decisions you have ever made?
Cowley: A fire in 2007 destroyed all the buildings and most of the equipment at our new pallet manufacturing facility. With the downturn in the economy, the decision to rebuild was difficult, but it has paid off.
Pallet Enterprise: What is the hardest challenge your company faces right now?
Cowley: Larger corporations’ customers expect longer finance terms, yet smaller, local suppliers require shorter terms. In that situation, cash flow can be an issue, especially when trying to build inventory for winter months.
