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Global sourcing with supply chain has been under attack lately, but their need is unmistakable. Over the past 25 years manufacturing in many industries (including packaging) has moved overseas. Not all of course, but a lot, enough to make a huge difference in how growing companies need to look at sourcing their packaging and the different options they have at their disposal.
Tariffs and Coronavirus—Now What?
Regardless if you are in need of printed rollstock, glass jars, stand up pouches or anything in between what is happening in the US and North America should not be ignored. Once tariffs were announced many companies decided to source their products domestically. Now that the Coronavirus is in full swing domestic factories are at full capacity and their backup factories are at full capacity.
Minimum Runs UP and Lead Time Extended
10-12 week lead time (or more) from domestic suppliers is not unheard of. Manufacturing in the US cannot handle the volume and you must consider other alternatives.
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Here’s What You Can Count On
China has lost hundreds of billions of dollars over the past 3-6 months. You can rest assured; they will aggressively pursue their lost business. Just like the bird flu and SARS was thought to be the end of the world as we knew it, this too shall pass.
If you are positioned with the right company who can navigate these waters for you, without a doubt you will have a distinct advantage over your competition.
Think Globally
Unless you are one of the largest brands in the world, you must have options and global sourcing with supply chain should be one of them. Don’t get me wrong, sourcing globally isn’t for everyone but if you need:
This is part of a much broader topic...Supply Chain.
This is also part of a new topic pertaining to the COVID 19 crisis.
