Printed Plastics Based Packaging Films Category Procurement Intelligence Report

Business practices within Printed Plastics Based Packaging Films market are heavily influenced by changing trends across the category as well as within the broader Warehousing and Storage market. Service providers have begun to use advanced technologies and tools such as loT, predictive analysis and big data for optimal asset utilization, geofencing, warehouse management, and smart inventory management. The efficiencies gained by using new technology and improvement in customer service capabilities are significant. More and more suppliers are moving towards adopting these technologies to realize significant efficiency gains in the longer run, however, it may also increase their OPEX in the short run.

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

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.

As a result, category managers need to closely monitor the Printed Plastics Based Packaging Films procurement trends and identify changes required in their procurement environment for the category.

Printed Plastics Based Packaging Films procurement best practices are moving towards a level of sophistication which is typically seen in traditional procurement categories. Category managers now have an attractive opportunity to adapt the best practices seen within this category as well as those being leveraged in other non-related categories. This report summarizes the best practices picked from across multiple categories that could work well for category managers involved with Printed Plastics Based Packaging Films procurement strategy.

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 that buyers assess the operating model of service providers to determine the best-fit case for their organizations. Buyers need to determine if services offered by the providers are comprehensive and involve adequate resource support and a well-defined customizable execution plan.

Buyers must track suppliers' quality management systems to ensure that the products are stored in a hygienic environment and have almost zero probability of occurrence of damages. This is particularly critical for buyers in industries such as food and beverages and pharmaceutical.

Printed Plastics Based Packaging Films procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Printed Plastics Based Packaging Films procurement. Some examples include: