May 9, 2023
LogiMAT 2023: three key takeaways to improve supply chain operations
Director of Channel Sales, EMEA
LogiMAT 2023, which took place a couple of weeks back in Stuttgart, Germany, brought together supply chain leaders from all over the globe for three days of insightful presentations and networking opportunities. The show provided attendees with the opportunity to learn more about the innovative technologies, products, systems, and solutions businesses can use to facilitate process optimization and cost reductions across global supply chains.
Read on for my three key takeaways from the tradeshow.
#1 Supply chain leaders are focused on resilience. Many crises over the past few years have unmasked the vulnerability of supply chains. Unsurprisingly, our ‘2023 Top 5 Trends in Labeling & Packaging Artwork’ report revealed that 80% of businesses have been directly impacted by supply chain issues. However, by adopting a cloud-first approach for their labeling operations, companies of all sizes can better prepare for future disruption. That’s because cloud labeling empowers organizations to speed up deployment and vendor onboarding, take fast corrective actions to eliminate bottlenecks, enhance collaboration, improve time to market, and ensure compliance.
#2 Sustainability remains a priority. According to a 2022 EY study, not only do supply chains account for more than 90% of an organization’s greenhouse gas emissions (GHG), but also 50%-70% of their operating costs. So, how do companies go about solving this? Part of the equation is around how social, ethical, and environmental performance factors into the process of selecting suppliers. With sustainability at the forefront, digital traceability can help companies deliver on their environmental commitments. Being able to trace products both upstream and downstream will become important for managing the product lifecycle and ensuring sustainable sourcing. These intelligent supply chains can track, trace, and authenticate products at every stage of the journey, from raw materials to consumer goods. Additionally, cloud-based labeling solutions reduce inventory and ensure that all products are correctly identified, shipped, and delivered to the right place, thereby avoiding unnecessary loss and waste.
#3 The Fourth Industrial Revolution is well underway. Industry 4.0 is having a significant impact on companies and their manufacturing operations. When it comes to printing on the production line, far too many businesses still rely on closed-loop systems that have disconnected, purpose-built software for different devices, resulting in manual and error-prone marking and coding operations. Through the advancement of cloud-based technologies, companies can now use their marking and coding equipment as part of a “one size fits all” intelligent factory operation. By adopting such a solution, businesses will gain printing flexibility, accuracy, production line uptime, and efficiency to manage costs and support global growth. Learn more about this here.
- Supply Chain