Business View Magazine | July 2020

15 BUSINESS VIEW MAGAZINE JULY 2020 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 SOURCEHUB LAUNCHES NEWVERSION OF GLOBAL PACKAGING PROCUREMENT PLATFORM OPENING L INES