Laminated Cartons Category Procurement Intelligence Report

Warehousing and Storage market around the world is undergoing rapid transitions that have a massive potential to influence the way companies strategize for Laminated Cartons procurement and the cost they have to incur. Sustainability has emerged as a pivotal theme for procurement decisions related to supply chain. Companies are expecting their suppliers to internalize globally accepted sustainability practices and demonstrate a solid history of putting in practice similar principles. It is worth noting that practices of sustainability are not limited to only environmental impact but has taken a greater meaning of practices that can reduce the overall cost of operations in the long term.

Businesses are focused on maintaining a lean inventory of raw materials, parts, components and finished goods. While it is a novel concept to keep the inventory costs in check, it also highly challenging to implement in a global sourcing context and requires a clock work like optimization of logistics and warehousing processes. Companies are moving to a completely digital supply chain footprint to reduce errors and risks associated with such strategies.

Large global suppliers are entering into JVs and M&As with vendors that can provide them a solid footing for regional play.

Sometimes, procurement functions are unable to timely alter their practices while responding to market conditions. Industry experts acknowledge that periodically reviewing procurement best practices and adopting learnings from across procurement categories can help procurement teams respond to market needs in a more agile way. This report combines our experience of other categories with Laminated Cartons procurement insights and hand picks best practices that can work for category managers delving in this market.

For example, Buyers need to discuss business goals and strategic imperatives with service providers to understand their mode of operation and establish control over important parameters of the supply chain.

It is important for category managers to track and measure supplier performance against a defined set of KPIs that are agreed upon by both parties during contract negotiation, including inventory accuracy, dock-to-stock, and on-time shipment. This is critical to ensure the optimal level of service. Suppliers' performance can also be linked to a part of their fee, which can be paid depending on the level of services rendered.

Buyers should enter in long-term partnerships and collaborative relationships with service providers to benefit from economies of scale and reduced cost. Long-term contracts are established to avoid renewal costs and avoid time spent on renegotiation.

Laminated Cartons procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Laminated Cartons procurement. Some examples include: