Market Insights | Page 2

The Global E-commerce Supply Chain Has Been Disrupted:

Politicians, scholars, business management consultants and industry experts can all agree that COVID-19 has caused global disruptions in e-commerce supply chain management. Thankfully, they also agree that the lessons learned during this economic upheaval will force companies to become more resilient, adaptive and agile with regards to e-commerce supply chain logistics, technologies, best practices and strategies during AND post COVID-19.

New consumer behavioral changes will likely impact online selling and services for years to come. Simply put, if what worked yesterday isn’t working as well in today’s marketplace, accept that redirection and evolution are necessary. Perhaps you need to reassess your business value chain, partners and processes to prioritize your response plans?

There is no doubt that COVID-19 will have a lasting impact on consumer behaviors and, as a result, the purchasing decisions made at both digital and physical stores. Some trends, like healthy snacks, will continue to dominate shelves. But at the same time, a new premium on safety and sustainability could push packaging strategies in new directions.

In the current market landscape, it’s never been more critical to streamline costs and enhance efficiency. One often overlooked area for cost savings is the packaging supply chain--an area that also poses unique challenges for windows and doors brands. From managing many SKUs to overcoming skilled labor shortages, Just in Time (JIT) and Vendor Managed Inventory (VMI) could be the key to unlocking new levels of efficiency for your windows and doors business.

Way back in 1986, the Harvard Business Review was singing the praises of Just In Time (JIT) inventory, a then-new strategy based on the success of Japanese manufacturing. Since then, the supply chain has evolved in countless ways, transforming how businesses view the nuances of production and inventory management. Yet that Harvard Business Review article’s headline is just as relevant today as in the mid-1980s: What’s Your Excuse For Not Using JIT?

According to the Harvard Business Review, more than 30,000 new products are launched in the U.S. each year—each requiring packaging in some way, shape or form. Although packaging strategies are as varied as the sheer scope of product types available to consumers, that doesn’t mean there isn’t some common ground. If you’re looking to launch a new product and need packaging or simply want to improve your existing strategy, use these top factors of high-quality packaging to ensure your product is positioned for success. 

No matter your industry or sector, proper inventory is crucial to your business’ success. With a streamlined inventory management process, your customers get the right orders at the right time—every time. But when the process breaks down, it can delay orders, cause your customers to jump ship and, ultimately, cost your company significant revenue. If you’ve ever misjudged your inventory volume requirements, you know how painful it can be to have critical cash flow tied up in more product than you need.

It’s conventional wisdom that the best products answer a clear customer need. The same can be said for packaging. As consumer preferences continue to shift, packaging strategies must evolve with them to stay relevant and appealing to customers. Given that packaging plays a key role in purchasing decisions, reflecting their desires in your strategy is just plain good business.

When most people think about packaging, the first things that come to mind are the design that compels you to buy or the moment you unbox your product. But in reality, the packaging development process is a lot more complex than that. Behind every memorable packaging experience is a team of engineers who use their expertise to craft customized solutions.

Sustainability is becoming an increasingly important decision-making factor for consumers. Not surprisingly, these shifting customer preferences are shaking up how businesses approach their products at every stage—from development to engineering and finally packaging. In the world of packaging solutions, we’ve seen a monumental movement away from single-use plastic in favor of environmentally friendly materials, minimalist designs and, in the latest development, packaging that can be reused. 

The snack food industry is growing rapidly, but that doesn’t mean consumers are buying more snacks. Instead, they’re spending more on snacks that come with bigger price tags and bigger perceived benefits. One of the key drivers of increased consumer spending? The rise of healthy snacks, fueled by mindful eaters seeking out premium ingredients and wholesome nutrition.