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Global Supply Chain Trends 2020

Global Supply Chain Trends 2020
04/11/2019

As a global manufacturer of flexible couplings for power transmission, KTR works closely with many packaging technology firms providing solutions for there ever changing needs. As such KTR and its partners have a close interest in any changes that might affect the Packaging industry in 2020.

In 2020, consumers will dictate what succeeds in the marketplace more than ever before. Environmental and social issues will increasingly affect how consumers view brands and what they will demand from them going forward. With no signs of e-commerce slowing down, global supply chains will be forced to adapt to these growing concerns. Fortunately, the brands that readily adapt to consumer preferences will more than likely see an improved adoption of their products in the marketplace. As the dawn of a new decade creeps closer, we’re gearing up to adopt the trends that will dominate the global packaging industry in 2020 and beyond. Connected Packaging: Driven by worldwide growth of connected devices, connected packaging (packaging that links a physical package to the online world) has grown. Through the use of digital markers, Near Field Communication (tap technology), Radio Frequency Identification, Bluetooth and augmented reality, companies can connect directly with their customers. For example, Kilchoman has added NFC labels to select whisky labels, providing customers with a chance to educate themselves on the product in a new and effortless way. This kind of connection fosters exceptional customer experience, promotes engagement, and drives sales, while providing invaluable consumer data and campaign metrics. Eco-Friendly Packaging: In 2020, brands will also have to alter their packaging with recycling in mind. While this could be considered a pain point, it’s also an opportunity for brands to differentiate themselves from competitors by providing compostable or recyclable packaging. We’ve already witnessed the headlines that follow brands that commit to using 100% recyclable materials. However, for some recycling is not enough. There is still waste involved in the recycling process and not all materials that are recyclable actually end up being recycled. One way to override this concern is to develop alternatives, such as compostable packaging that can break down organically in consumers’ composting bins or gardens. Regardless of whether your company will favour recycling or composting, a commitment to environmentally-friendly packaging will have to be made to appease the socially conscious consumers of 2020. Plastic-Free: Step out the door to perform any household errand and you’ll likely notice the new attitude surrounding plastics. As knowledge of the environmental damage caused by plastic pollution continues to grow, industries and consumers alike have made a conscious effort to reduce single-use plastics. Some retailers have gone so far as to ban single-use plastics in favour of paper or reusable bags. New opportunities to reduce plastic will continue to expand into all aspects of the supply chain. From plastic-free stores to alternative packaging materials, consumers will increasingly prompt producers, suppliers, and distributors to do their part in reducing plastic waste. Reinventing the Box: The e-commerce industry has been forced to deal with a bit of a catch-22 when it comes to packaging online orders. While the popularity of e-commerce continues to grow, so does the desire to reduce packaging waste. So, what will distributors do going forward? Well, some have decided to reinvent the box. The use of flexible packaging that utilises zippers and less material has risen in popularity. However, brands must remain conscious of the aesthetic and brand experience of ordering online. Too much packaging and consumers view you as wasteful, but too little and your product could arrive damaged. Given the complexity of this issue, brands will need to establish an e-commerce packaging strategy. Those who find the balance between sustainable and quality packaging will win the favour of consumers and the marketplace. Global Partnerships: Recently, supply chains have been faced with several new challenges. Two of the key challenges involve battling new tariffs and a slowing global economy. In response to these challenges, companies are beginning to rethink their existing supply and packaging strategies. As trade restrictions continue to ebb and flow and global economies slow, the new normal may be to provide a single aspect of the supply chain rather than the whole process. For instance, some companies have begun partnering with packaging suppliers in other regions to cut down on overhead costs and sidestep growing tariffs. While sustainability is clearly the driving force behind many of the upcoming supply packaging trends, technology will also play a role in connecting the consumer to the distributor as well. Every year brings with it new challenges and changes – and we’re particularly excited to witness the innovation that the coming decade brings with it.

For more information on  Global Supply Chain Trends 2020  talk to  KTR U.K. Ltd

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