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Increase partnership efficiency through a third-party adviser

Some CPG companies are embracing outside experts to identify untapped opportunities in working with co-packers to get products to market faster.

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As the packaging industry continues to evolve to address new trends, initiatives, and standards, consumer packaged goods (CPG) companies and contract packagers alike are compelled to move quickly to meet market demands. Rising competition, compounded with cost constraints, requires the need to look beyond the obvious and seek additional resources for ideas and guidance on the latest innovation, cost-savings, and sustainability efforts.

Today, an increasing number of CPG companies are adding specific agreements in their contracts to hire third-party experts. Outside firms bring an unbiased perspective, disciplined approach, proven management experience, and broad industry knowledge. Those characteristics enable them to recognize opportunities or spot areas for improvement that may have been overlooked. With CPG companies focused on internal operations and contract packagers tasked with ever-growing responsibilities, a third-party perspective provides external insight into alternative methods to augment existing processes and help uncover new ways to increase efficiencies.

We’ll explore how market dynamics are fueling a need to integrate third-party experts into the mix, and the benefits both CPG companies and contract packagers can realize from the partnership.

Looking beyond conventional methods

 Advancements in packaging equipment and dynamic market changes have transformed contract packagers from tactical suppliers to strategic partners for CPG companies. But escalating workloads and continually increasing expectations have limited contract packagers’ time and ability to focus beyond their traditional scope. For product manufacturers that are dealing with a myriad of issues and challenges, from managing multiple contractors to meeting new packaging demands brought on by new industry initiatives, leaning exclusively on contract packagers for support may not always produce the desired outcome.

A lack of resources and time, as well as limited internal expertise, makes hiring a third-party expert financially beneficial for both contract packagers and product manufacturers.

Following are three scenarios that illustrate the value of and the need for third-party experts.

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