Rolls Out New Content Series on Packaging Procurement: The Hidden Risk of Single Sourcing Your Packaging
Naperville, IL – SourceHUB, a provider of a collaborative technology platform for packaging procurement, announced the launch of an enhanced version of its platform, which helps global brands collaborate with distributors, manufacturers and service providers to deliver packaging solutions anywhere in the world. Packaging thinktank Smithers Pira indicates demand for the world packaging industry will reach $1.05 trillion by 2024, an increase of $155 billion over 2020. With the scope of the packaging industry growing at such a fast rate, there is a need for electronic procurement and servicing of packaging at points around the world.
“While the packaging industry is changing at a rapid pace due to a number of factors such as pressure
the pandemic has placed on the supply chain, more complex supply chains and the faster pace of
artwork changes, a lot of strain is being put on the global packaging ecosystem,” said John Moran, CEO
and founder of SourceHUB. “Our team has years of experience in the packaging procurement industry.
We have dealt with the headaches around the process and managing various internal/external
stakeholders. Our initial pilot customers tell us that SourceHUB squarely addresses the pain points they
face. Clearly, there is an urgent need for better collaboration in the procurement process and
SourceHUB was built to greatly simplify the process.”
The only offering of its kind, the SourceHUB platform enables all stakeholders in the
packaging supply chain to seamlessly work together on one platform to reduce the time, money and
effort involved in packaging procurement anywhere in the world. By allowing all stakeholders
in the process to automate workflows and centralize data, customers reduce time and money spent
managing the procurement process.
- Order Management and Visibility – SourceHUB allows customers to take control over its global
supply chain to understand where orders are, including line item level tracking of production
status and retention of all-important order documents. Customers can schedule and manage
key tasks and decision points right within the system/platform.
- Automated Spec & Artwork Approvals — Access mission critical information when needed 24/7
by automating and tracking artwork and specification approvals and revisions.
- In-App Communication — Streamline critical processes with standardized workflows so the right
tasks are being done at the right time, with the right results. In-app messaging replaces
searching through emails and provides seamless communication integration into automated
workflows.
- Lead-time Analytics — Analyze supplier performance to optimize the packaging supply chain and
make improvements in future projects.
SourceHUB also launched a series of content pieces on its website that addresses several issues facing
the packaging procurement and supply chain industry. The first piece in the series is entitled The Hidden
Risk of Single Sourcing Your Packaging. A new installment in the series will appear every two weeks and
focus on providing advice to those interested in packaging procurement.
According to Moran, some SourceHUB users have seen efficiency improve and a 32 percent reduction in
errors by proactively responding to supply chain disruptions. “Packaging is so critical in commerce today
and it just keeps growing as an industry. The problem is many of the tools to manage the process are
archaic,” Moran said. “The challenge has been to make the procurement process smoother and make it
as real-time as possible no matter where you are in the world. That’s where we come in and while the
platform is important, our team’s years of the experience in packaging procurement makes our offering
even that more powerful.”
For more information, visit SourceHUB at www.sourcehub.ai
