In the past 18 months, supply chains across the globe were tested like never before. The packaging industry was tested, too, by increased consumer and industrial demand, strained supply chains, extended lead times for both raw materials and finished packaging and crippling labor shortages.
For those who make packaging, it’s been rough. And for those who rely on packaging, even rougher.
If you’re responsible for purchasing packaging supplies (boxes, bags, mailers, tape, etc.), you care about getting the best value for your money.
Scoring a fair price is essential. So is keeping an eye on your buying practices and the vendor partners you rely on.
Here are three best practices to incorporate into your purchasing processes to get a better return on your packaging material investments.
Ordering packaging for your business can become a set-it-and-forget-it activity. You use the same packaging month-in and month-out. You order the same quantity each time—the same box sizes, too.
What you might not realize is that while it may save time and mental energy, putting your packaging material orders on autopilot can end up costing you more.
Having an abundance of packaging supplies in inventory may sound like a smart business strategy—but the carrying costs for doing so are higher than you would guess, unnecessary and avoidable.
Today, more and more companies identify inventory management as a top priority, but they aren’t computing inventory carrying costs. Instead, they’re using rough estimates.
If your business relies on packaging, whether to fulfill e-commerce shipments or for other purposes, keeping a ready supply of boxes is critical.
The advent of retail stores began more than 100 years ago. We’ve been able to purchase items in bulk at membership clubs since the 1970s. And buying items online has been a convenience that dates back two decades.
As consumers, we’ve become so reliant on these purchasing channels and want endless choices. We demand more and more goods to be delivered to our homes, and we want manufacturers to know our every need—and anticipate our future desires.
Millions of online shoppers look forward to Amazon Prime Day. Members get a chance to go online, shop and save on more than one million deals across every category—from arts, crafts and sewing, to grocery items and women's shoes.
Prime Day history
Food packaging is a vibrant industry with dozens of innovations emerging on the scene each year. But 2020 will likely be the year food packaging professionals look back on—remembering COVID-19’s full impact, and how it transformed the industry for years to come.
TOP 5 TRENDS IN FOOD PACKAGING DESIGN
Food, glorious food—and to that, we would add food packaging. It’s functional, sure, but the material, design and what the packaging communicates are what gets our Veritiv packaging teams excited.
As personal and corporate environmental responsibility grows, so has the demand for alternative packaging materials that can properly protect products while reducing environmental effects. Global name brands are even making sustainable packaging part of their corporate objectives.