March 4, 2024
Blog
Top 5 Trends for 2024: Navigating the growing complexity of supply chains
In the dynamic landscape of 2024, supply chain challenges are evolving at an unprecedented rate. As businesses expand their operations, diversify sourcing, and navigate unforeseen disruptions, supply chain disruptions continue to grow increasingly complex. Loftware’s annual ‘Top 5 Trends in Labeling & Packaging Artwork’ report, which draws on insights from over 300 labeling, packaging, and supply chain professionals across industries in 55 countries, revealed that 42% of organizations reported that integration with business applications was a top challenge impacting supply chain labeling. To meet these challenges head-on, business leaders are embracing cutting-edge technology like the Cloud. This transformative solution allows scalability, centralization of data, and fosters remote collaboration across global supply chain teams.
Enforcing supplier compliance
As supply chains become more interconnected, the risks associated with non-compliance increase. Cloud labeling solutions provide simplified and controlled access to centralized data and templates, which streamlines the entire supply chain management process. This also allows partners to access and utilize existing accurate and compliant label templates from any location, saving significant time and effort from creating and updating labels that may or may not meet brand standards to display the correct content and format needed by a company. A cloud-based labeling solution also allows you to quickly onboard new suppliers, wherever they may be located across the globe, thereby maintaining a consistent and reliable supply chain.
Ensuring continuous production and shipping
One of the central challenges highlighted in the Loftware 2024 Top Trends report is the demand for business to ensure continuity in the face of mounting complexities. Eighty-one percent of those surveyed said production and/or shipping comes to a halt if labeling fails. Cloud-based applications provide greater control by allowing companies to drive labeling centrally, ensuring uptime, and reducing bottlenecks such as disruptions in warehousing and distribution, or even facility closures. Cloud technologies play a pivotal role in this context, helping optimize production processes, manage inventory effectively, and streamline shipping operations. In the long run, this approach proves to be an indispensable tool for maintaining continuity of production and shipping in the ever-evolving supply chain landscape.
Supply chain collaboration is critical
2024 underscores the critical role of supply chain collaboration, with cloud-based solutions playing an important role in this intricacy of the supply chain management process. In fact, 82% of businesses surveyed believe that extending labeling to partners and suppliers helps to avoid delays and costs associated with relabeling goods upon receipt. Cloud labeling solutions offer a central platform where all parties can access, edit, and approve labels in real time. They also streamline communication and transparency, which reduces costly errors and miscommunication. Cloud solutions also offer remote access, which is crucial in today’s global marketplace. Supply chain collaboration is no longer just a competitive advantage but is an essential strategy for navigating a complex and volatile business environment.
In conclusion, enforcing supplier compliance, ensuring uninterrupted production and shipping, and prioritizing supply chain collaboration are all imperative factors for business success. By embracing innovative technologies such as Loftware’s cloud labeling solutions, organizations not only fortify their supply chains against disruptions but also position themselves at the forefront of a dynamic and ever-evolving global marketplace.
For more information about Loftware’s Top 5 Trends 2024, download our report for free. Additionally, you can watch a recording of the ‘2024 Top 5 Trends in Labeling & Packaging Artwork’ webinar here.
