On a global scale, the packaging industry is an enormous economic generator showing steady growth in terms of market share. Furthermore, the packaging industry in the United States was valued at USD 183.92 billion in 2019 and is expected to reach USD 218.36 billion by 2025, at a CAGR of 4.1% over the forecast period 2020 – 2025. These stats are witnessing the growth and need for food packaging manufacturers across the globe, especially in the USA.
Despite its growth, challenges are inevitable and could lead to economic slowdowns due to unforeseen disruptions. The USA and China economies are tightly intertwined. Different parts of the USA could be affected to a greater or lesser extent by a broad slowdown in trade with China as a result of the ongoing outbreak. There is a temporary pause on imports from China from the technology industry to the fashion and food industry.
Grow your food packaging industry with ERP software solutions:
The competition for the packaging industry in the USA is comparatively moderate, and several market players are investing in technology to empower the industry. In order to concentrate on core business values and limit the operational costs, most of the companies in the USA outsource packaging requirements to China. But, the ongoing outbreak scenarios leading to a surge for the homegrown food packaging manufacturers in the USA to meet consumer needs.
If you own a food packaging business and have plans to upgrade with the latest automation tools, know the leading technology trends, and benefits of having an ERP software for your business.
Technology trends in the food packaging industry:
The food packaging industry is going through various transformations with the advent of the latest automation tools. Enterprise Resource Planning (ERP) software solutions are disrupting the industry in streamlining operations, reducing manual intervention, improving quality, and meeting regulatory compliances. Hence, adopting modern ERP solutions like NetSuite will help you in minimizing rule-based activities, and thus you can focus on business growth strategies.
Benefits of NetSuite ERP for food packaging manufacturers:
- Food packaging plays a vital role in preserving and transporting food products to their destinations. Any spillage or tampering could lead to a ripple effect on the shape and quality of the product. Therefore, having NetSuite ERP software in place helps you in tracking the package quality from the shop floor to delivery.
- Food packaging isn’t merely about delivering goods. It includes information transmission related to ingredients, nutrition values, expiry date, price, and origin of the product. NetSuite for the food and beverage manufacturing industry comes with labeling features that include all the above information. This will help you in building trust and transparency.
- In the United States, the Food and Drug Administration (FDA) regulates the safety of food packaging, including material in contact with food and medicines. NetSuite’s advanced quality control modules track the food packaging material quality and ensure it complies with stringent FDA policies. Hence, food packaging manufacturers need not worry about ever-changing regulatory compliances.
- Recycling of food packaging material is a growing challenge faced by many US companies. Having NetSuite in place will help you in knowing the market trends of food packaging materials, which are cost-effective and eco-friendly. Moreover, having biodegradable or recyclable food packaging materials in place would improve brand value.
- Real-time inventory management is another key benefit of having an ERP system in place. It enables you to track how the packaging material is moving from the shop floor to the final packaging item. Hence, you can have optimized production planning through enhanced forecasting.
Would you like to have a single source of trust and business intelligence at the fingertips?
Schedule your time to talk with Amzur NetSuite experts today.