Challenges in Packaging Procurement
The packaging industry has been undergoing significant changes in recent years with various macro factors impacting the market. From raw material price volatility to increased demand for premium and green packaging, the landscape is complex and ever-evolving. This volatility poses challenges for procurement professionals who must navigate through fluctuating costs while meeting the expectations of product marketing groups. The risk associated with the category and the impact of price changes on end products are substantial, requiring constant vigilance and adaptability.
Category Management With GEP SMART
GEP SMART offers a comprehensive solution for packaging procurement, enabling organizations to drive their category strategies with complete visibility, oversight, control, and governance. With GEP SMART, procurement professionals can gain insights into the supplier market, track raw material prices, supply, and demand trends, and stay informed about industry developments. This empowers them to make informed decisions and optimize their sourcing strategies for maximum efficiency and cost reduction.
Expertise and Infrastructure
GEP's extensive experience in packaging procurement is backed by a strong support infrastructure that combines category expertise with a global network of supplier relationships. With a dedicated market intelligence team, packaging category SMEs, and an on-the-ground presence in key markets, GEP is well-equipped to execute sourcing activities with speed and precision. Additionally, the use of versatile eSourcing tools and a global supplier network further enhances the efficiency and effectiveness of the procurement process.
Focused and Holistic Strategies
GEP's sourcing strategies for packaging are focused on total cost reduction and include various optimization techniques such as cost breakdown analysis, demand management, specification optimization, and logistics optimization. By leveraging low-cost country sourcing and supplier development initiatives, GEP helps organizations achieve breakthrough savings on their packaging spend while reducing supply and quality risks. The holistic approach to packaging procurement ensures that clients not only control costs but also drive growth and innovation in their packaging strategies.