3 Common Labeling Challenges
by Maureen Perroni, on August 23, 2016
Companies can face a number of different labeling challenges.
To those who aren't familiar with the workings of the global economy, labeling may seem like an afterthought - a simple thing that manufacturers must do once the hard work of designing and producing a product is finished. This couldn't be further from the truth. Accurate labeling is key to a reliable, transparent supply chain. And thanks to the demands of customers and government regulations, this can be a tremendously challenging detail to get right.
Here are a few examples of the most common challenges firms face when it comes to labeling:
- Rapidly expanding product portfolios: Some industries are growing and changing so fast that it can be difficult to keep up. The medical device industry is one such example. In the U.S., total revenue is about $110 billion, and has expanded rapidly to equal about one-third of the global market, according to MDDI Online. This growth is only possible because innovative new products are being developed frequently. They must all be labeled with a high degree of accuracy.
- Inconsistent branding: Firms with large product lines may struggle to develop a single brand strategy. The various types of information that needs to be labeled on each product can make it difficult to achieve consistency, which can ultimately cause confusion among buyers and regulators and even hurt brand recognition, according to Healthcare Packaging.
- Errors: Label errors and inconsistencies are some of the main drivers of product recalls in a number of industries. This can not only result in lost sales opportunities, but also fines from government regulators.
An Enterprise Labeling Solution can add intelligence and centralized control to labeling systems, resulting in more consistency and reliability in bulk. By allowing companies to utilize a single source of truth, Loftware can help manufacturers overcome the many labeling challenges they face by offering dynamic,data-driven labeling for the global supply chain. To find out more check out the special report co-sponsored by VDC Research and Loftware or register for the upcoming free live webinar this Thursday, 8/25 from 11am - 11:30 EST.