SourceHUB, a provider of a collaborative technology platform for packaging procurement, is offering an enhanced version of its platform which helps global brands collaborate with distributors, manufacturers and service providers to deliver packaging solutions anywhere in the world.
Packaging thinktank Smithers Pira indicates demand for the world packaging industry will reach $1.05 trillion by 2024, an increase of $155 billion over 2020. With the scope of the packaging industry growing at such a fast rate, there is a need for electronic procurement and servicing of packaging at points around the world.
“While the packaging industry is changing at a rapid pace due to a number of factors such as pressure the pandemic has placed on the supply chain, more complex supply chains and the faster pace of artwork changes, a lot of strain is being put on the global packaging ecosystem,” said John Moran, CEO and founder of SourceHUB. “Our team has years of experience in the packaging procurement industry. We have dealt with the headaches around the process and managing various internal/external stakeholders. Our initial pilot customers tell us that SourceHUB squarely addresses the pain points they face. Clearly, there is an urgent need for better collaboration in the procurement process, and SourceHUB was built to greatly simplify the process.”
The only offering of its kind in the world, the SourceHUB platform enables all stakeholders in the packaging supply chain to seamlessly work together on one platform to reduce the time, money and effort involved in packaging procurement anywhere in the world.
By allowing all stakeholders in the process to automate workflows and centralize data, customers reduce time and money spent managing the procurement process.
Order management and visibility
SourceHUB allows customers to take control over its global supply chain to understand where orders are, including line item level tracking of production status and retention of all-important order documents. Customers can schedule and manage key tasks and decision points right within the system/platform.
Automated spec and artwork approvals
Access mission critical information when needed 24/7 by automating and tracking artwork and specification approvals and revisions.
Streamline critical processes with standardized workflows so the right tasks are being done at the right time, with the right results. In-app messaging replaces searching through emails and provides seamless communication integration into automated workflows.
Analyze supplier performance to optimize the packaging supply chain and make improvements in future projects.
SourceHUB also launched a series of content pieces on its website that addresses several issues facing the packaging procurement and supply chain industry. The first piece in the series is entitled “The Hidden Risk of Single Sourcing Your Packaging.” A new installment in the series will appear every two weeks and focus on providing advice to those interested in packaging procurement.
According to Moran, some SourceHUB users have seen efficiency improve and a 32 percent reduction in errors by proactively responding to supply chain disruptions.
“Packaging is so critical in commerce today, and it just keeps growing as an industry. The problem is many of the tools to manage the process are archaic,” Moran said. “The challenge has been to make the procurement process smoother and make it as real-time as possible, no matter where you are in the world. That’s where we come in, and while the platform is important our team’s years of experience in packaging procurement makes our offering even that more powerful.”
SourceHUB is based in Naperville, Illinois.