Food packaging materials have reached record highs in recent months and this combined with disruption in supply chains leading to material shortages has led many companies to change behaviours to mitigate these impacts.
At Mintec’s H1 review of Food Packaging, with over 500 industry experts registered to attend, Kevin Moore and Mark Boswell from 4C Associates shared feedback on how we have seen the industry adapt to the changing landscape.
During the webinar, we asked attendees to participate in a poll to determine “what Strategies are you working with to mitigate the impact of price and availability on food packaging materials”
The most popular Strategies as voted by attendees were:
|Joint Process Improvement – working with suppliers for better planning, partnering, joint ways of working||
|Product Specification Improvement – switch to alternative materials||
|Relationship Restructuring – concentrate with fewer suppliers, upgrade relationship||
A key takeaway from the poll was that the most popular Strategies were those involving partners in the supply chain working in co-operation to mitigate the issues. For 4C Associates, it was insightful to see a close correlation between this wider industry feedback and the examples we specifically highlighted in the webinar.
For us, the key message from the webinar was that the issues of historically high costs and availability will continue at least for H2 2021, but that the food industry continues to show innovation and adaptability to manage the impacts for customers and consumers.
A recording of the webinar is available here.
Our team at 4C Associates combines extensive knowledge and experience with the latest process and technology innovations to provide our clients with transformative solutions and sustainable commercial outcomes. To find out more about how we can help you to transform your procurement, contact Kevin Moore at 4C Associates at email@example.com to arrange a complimentary consultation.