If you are a contract packager, prepare for change and growth. Make sure you can answer challenges related to supply chain, logistics, and sustainability.
A checklist for companies purchasing contract-packaging services:
β’ Identify what new products are in the pipeline.
β’ Determine where your existing products are in their life cycle.
β’ Support your procurement strategy with marketing and business strategies.
β’ Assess consumer, channel, technology, and marketplace trends to determine which packaging formats and capabilities may be needed.
β’ Conduct a strategic assessment of contract products and services you are buying to determine whether they are strategic or tacticalβand treat them differently.
β’ Evaluate supply chain, logistics, and transportation impacts of your contract-packaging efforts. A hallmark of the industry is flexibility, and relocation should be an option.
β’ Consider outsourcing elements of contract packaging and manufacturing management that might relate to managing risk or that might not fit your companyβs core competencies.