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Top Ideas to Reduce the Pain of Rising Costs and Inflation

Top Ideas to Reduce the Pain of Rising Costs and Inflation
Bill Madl March 28, 2018

Prices are on the rise and inflation continues to be one of the challenges businesses are facing today. At Ashtonne Packaging, in business since 2007, we are fighting inflation too, while helping our customers increase sales and profits. Please see the top ideas we suggest you consider when dealing with rising costs.

1) Consolidation of suppliers- companies today don't have time to see all kinds of packaging companies and all the services each offers. Save time and money by dealing with a company that can provide all the products and services your company needs, and at a competitive One company, servicing more of your packaging needs, puts more responsibility on them to ensure your packaging arrives when needed and only in the amounts needed. It also takes less time to manage your packaging , follow up orders and reduce expedites.

2) Process and packaging audits- allow a supplier to come in and analyze your processes and packaging - identify how a package is handled through your supply chain and develop solutions to move faster with fewer touches, getting your products to market sooner and with less waste. Are there situations where you are hand-packing product that could be done by a third party, offsite, saving time, labor and freeing up floor space? Many times a new set of eyes can help identify inefficiencies in your lines and how your products are handled. Many processes in a plant were "always that way" and could be in need of a revamp. Review if your company is running a "LEAN" operation, identifying areas of improvement.

3) Evaluate and re-design your packaging- review all your packaging and determine what is really needed in your supply chain. Many times a product is over-packaged, either with too much filler or perhaps using a stronger box than what is actually necessary. A re-design can eliminate excess packaging and save you cost with reduced shipping weight. An SKU consolidation can eliminate floor space and save you money by not keeping as much inventory on your floor, and having all of it usable, avoiding damage and waste. Some packaging is designed to run on automated equipment which could result in leaner packaging and automated processes saving materials and labor. Get samples that allow for different transit situations that will result in less waste, lower returns and better shipping rates. Sometimes just "tweaking" the dimensions of a carton or shying flaps can help eliminate cost. Bottom line: partner with a reputable company that can custom design new and revise existing packaging.

4) Review your current printing techniques on your packaging and determine if there is a better method that would save money and labor. Consider all options as the cost of cutting and printing dies can be expensive and may not be needed. With the rapid growth of e-commerce, perhaps sending your products B2C are critical. Our success with the "unboxing experience" and  creating a dramatic "moment of reveal" could be a solution to improve sales and profits.

Inflation happens as a result of a macro economy - what are you doing to offset those rising costs? You may need to evaluate all your packaging options with a reputable company that takes the time to understand your business, including all aspects of your supply chain. Call Ashtonne Packaging (877-522-6937) and let us develop plans together to make this happen!

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