Global survey reveals cloud as preferred method for labeling and supply chain
15 February 2023
Nearly three-quarters of companies believe cloud or a hybrid solution will be their preferred labeling deployment method in the next three years, according to a annual report released today by Loftware, the world's largest software company specializing in enterprise labeling and artwork management solutions.
The global survey, which is based on the opinions of almost 500 professionals from different sectors in 55 countries, revealed a change in attitude towards cloud technology. Driven by the need to insulate operations from ongoing supply chain disruptions, product shortages, cost pressures, process inefficiencies and manual errors, Loftware's 10th annual report revealed that 50 % of Companies are already deploying important business applications in the cloud. This figure contrasts with just under 40% of companies a year ago adopting "cloud-first" strategies for business applications.
"Cloud adoption is proving to be the cornerstone of impactful digital transformation programs, as evidenced by the strong feedback we've received from our customers and partners. Among the many benefits it offers, the cloud provides rapid deployment times, lower upfront costs, easy access, the ability to scale and automatic upgrades," said Josh Roffman , Loftware's Senior Vice President of Marketing and Product Management. "As companies of all sizes strive to increase profitability, drive growth and streamline operations, we expect to see an increasing number of forward-thinking organizations adopt the cloud for mission-critical business processes, including the labelled."
Gartner , a leading technology analysis firm, supports this notion and believes that more than 50% of companies will use industry cloud platforms to accelerate their business initiatives by 2027.
The majority of business leaders surveyed by Loftware (80%) reported that supply chain challenges had directly affected their business. In addition, 93% said that having a business model that supports speed and agility is important in today's evolving business climate, while 62% of respondents believe that expanding labeling to partners and suppliers it allows them to avoid relabeling, thus saving time, money and resources. This is no surprise, as today's global supply chain requires new levels of visibility and agility as companies add new suppliers and partners, expand into new regions, strive to ensure continuity of operations, and try to satisfy increasing regulatory and customer demands.
Enabling transparency is a vital step in building resilient supply chains, with 70% of respondents listing global traceability as a priority for their business in the next 12 months. This is because companies need to ensure quality, safeguard products, protect patients, streamline inventory location, and ensure timely delivery to market. In fact, 49% of respondents believe that the inability to effectively manage product recalls is the biggest risk of not being able to track products throughout the supply chain, up from 33% four years ago. . As a result, companies are taking advantage of cloud technology to react faster to potential product recalls,
Digital traceability can also help companies meet their corporate social responsibility goals. Of the companies surveyed by Loftware, 76% say they already have a sustainability initiative within their organization. Being able to trace products both upstream and downstream will be important for product lifecycle management and sustainable sourcing. Smart supply chains leveraging cloud technologies can track, trace and authenticate products at every stage of the process, from raw materials to consumer goods. By deploying cloud-based labeling, companies can reduce inventory, eliminate a large global footprint, and ensure that all products are made,
The Fourth Industrial Revolution, also known as Industry 4.0, will also have a significant impact on companies and their manufacturing operations in 2023 and beyond. When it comes to printing on the production line, Loftware's survey illustrates that too many companies continue to rely on closed-loop systems that have disconnected software designed specifically for different devices, resulting in manual marking and coding operations that are prone to errors. mistakes. In fact, 69% of companies say they use multiple vendors for marking and coding at their facilities, while 41% say label errors caused by manual processes are one of the biggest challenges in their current environment. marking and coding.
Thanks to advances in cloud-based technologies, companies can now use their marking and coding equipment as part of a "one size fits all" smart factory operation. This offers integration capabilities to manage the output of all your devices, from color thermal and laser printing to marking and coding devices, visual inspection systems, serialization solutions and much more. By adopting such a solution as part of a cloud-first strategy, companies will gain print flexibility, accuracy, production line uptime and efficiency to manage costs and support global growth.
To learn more about the trends identified by Loftware, download the full report for free . Also, sign up for the '2023 Top 5 Trends in Labeling & Packaging Artwork' webinar , taking place on February 23, 2023
Source:prnewswire.com