Global Executives Survey: Latest Factors Driving Change in Global Packaging Supply Chains
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Packaging organizations are expanding their supply chain globally and emphasizing more on trade agreements and technology advancements. Free trade agreements not only eliminate tariffs, they also encourage investment, enhance cooperation, and deliver improved trading opportunities that promote sustainable growth of developing economies. Moreover, economic union helps countries to trade with each other at no additional taxation and keeps supplier prices under control. Advancements in technology are seen as a key way to create faster, stronger, and more stable supply chains. Visiting suppliers personally helps packaging manufacturers to analyze their business operations.
Scope
The majority of packaging industry executives stated that their organization’s supply chain operates in multiple countries
Packaging organizations across all regions prefer to physically visit the suppliers to investigate the reliability of foreign suppliers
Increasing taxes and tougher regulation, and rising transportation costs are major challenges for packaging companies operating international supply chains
Greater access to suppliers and manufacturers and greater access to clients are major advantages of a free-trade agreement for organizations
The majority of companies operating in the Rest of the World region are looking to expand their production facilities internationally compared to other regions
Reasons to Buy
Alter processes by knowing about steps taken to assess the credibility of foreign suppliers
Strengthen supply chain by knowing about major challenges faced by organizations for supply chain
Develop business expansion plans and alter strategy by utilizing the main advantages of free-trade agreements indicated by organizations
Modify objectives and focus areas by knowing about what organizations are planning to do in the future
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