Trend 3: Industry Focus Drives Supply Chain Decisions

Global regulations impact bottom line

In an environment where cost-cutting measures and operational savings have become expected, companies across a wide range of industries are not only looking for creative new ways to extend ROI, but are also looking for ways to improve and control noncompliance which can result in penalties and hefty fines. This has become especially challenging as global regulations and the speed at which they change are continuing to have a significant impact on business. With new standards and regulations dictating requirements throughout a wide range of industries (such as DSCSA, FSMA, EU MDR, UDI, GHS, and more), labeling and packaging have become recognized as critical functions for meeting compliance. As requirements increase, companies must find more efficient ways to showcase unique data attributes and formatting standards including pictograms, regional requirements, and a vast array of other regulatory content. In fact, constant change is necessary to comply with evolving requirements. This is why labeling must be both dynamic and data-driven for companies to quickly respond while ensuring accuracy and consistency to avoid fines, secure entry into new markets, and ensure safety.  Implementing a comprehensive Enterprise Labeling solution allows companies to integrate with sources of truth, access centralized data and use business logic to address requirements so they can more easily manage regulatory variations. This approach minimizes the risk of errors leading to costly recalls and fines and helps companies meet requirements with increased speed and agility. 

...reported that evolving global regulations are resulting in fines/penalties lost revenue and loss of business

Customers seek single printing platform

Companies today are recognizing the benefits of automation and digitization, resulting in a notable increase in the adoption of single-platform solutions for mission-critical business processes such as cloud labeling and printing. This type of standardized platform reduces redundancies, increases efficiencies, and saves time and expense. This is why companies today are seeking this type of “one size prints all” solution that can meet the full scope of their requirements for bringing products to market quickly, efficiently, and more competitively. Marking and coding systems, for example, once characterized by ‘closed-looped systems’ with separate, purpose-built software requiring manual operation are now becoming connected, integrated, and controlled by unified systems. This is especially important for industries like Food & Beverage, Consumer Products, and Life Sciences where more products, shorter runs, and faster turnaround are critical. It is even more important to avoid mislabeling and inevitable recalls caused by manual entry since this can create waste and delays and most importantly can impact patient outcomes. It can literally mean a matter of life or death. Now best of best-of-breed Enterprise Labeling solutions manage all print devices from one place, integrating with single sources of truth to offer an intuitive user interface for operators to perform their jobs efficiently, without errors to boost productivity.   

...reported that they see an advantage of using a single platform to support thermal transfer type labeling, as well as direct marking and coding

Digital passports guide purchasing decisions

Industries subject to stringent regulations continue to actively seek and embrace new ways to enhance transparency within their supply chains. To keep pace with evolving consumer expectations, they are increasingly looking for new ways to create visibility and ensure sustainability across their global enterprise. One concept has emerged as a pivotal game-changer for businesses and consumers alike: the Digital Product Passport (DPP). The DPP offers a method of digitally recording product information, in particular the traceability of the product and its components across the entire supply chain. By furnishing consumers with comprehensive insights into a product's origin and manufacturing processes, digital passports become instrumental in guiding purchasing decisions. Additionally, the adoption of Digital Product Passports plays a pivotal role in addressing both consumer and regulatory compliance challenges. From a product perspective, there are many categories that will eventually be required to include a DPP on their goods. Those include but are not limited to batteries, apparel, electronics and construction materials. On an individual product basis, the DPP will affect virtually every party along the supply chain, including manufacturers, distributors, and consumers.  

...believe that further integration of digital product passports into the supply chain could lead to more efficient supply chain management

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