Naperville, Ill. – March 24, 2021 –SourceHUB, a provider of a collaborative technology platform for packaging procurement, launched today its Rapid Global Supply Response Program to help address increasing demands in the midst of global packaging supply chain strain and disruption. The SourceHUB platform combined with MPK International global packaging supply chain consulting services can fill the gaps created by world supply chain shortages and trim weeks off of packaging production and delivery.
According to SourceHUB CEO John Moran, shortages of materials and goods have put a lot of strain on all kinds of supply chains, but packaging has been hit extremely hard. “While nearly every industry is being hit with supply chain disruptions, packaging has been especially hard hit,” he said. “From weather-related resin shutdowns to PET supply shortages to issues in the glass supply chain, many companies are left spending inordinate amounts of time finding suppliers with open capacity. This root cause is lack of supply redundancy, siloed data, and manual workflow processes are challenges that we address.”
SourceHUB’s new Rapid Global Supply Response Program is designed to address this very issue. Using SourceHUB’s technology platform, companies can send RFQs to the SourceHUB highly qualified marketplace within minutes to get quotes for packaging procurement. Onboarding is fast with lower risk through SourceHUB’s workflow automation and project management tools, providing visibility throughout the entire process. MPK Packaging has teams located in global supplier locations to manage supplier onboarding, specification approvals, trial timelines, quality assurance and production timelines.
More specifically, Moran points out that the Rapid Global Supply Response Program can deliver the benefits packagers need during such a stressful time of shortages and disruptions:
• Reduce lead times by 8-20 weeks, depending on product line, roughly 30-50% faster on some product lines
• Mitigate new supplier risk with vetted global resources and industry-leading quality assurance programs.
• Reduce procurement’s time spent managing supply chain disruptions.
“Packaging is notorious for lack of specification management and technology-enabled workflows, which makes it hard to quickly pivot your manufacturing when disruption strikes,” Moran said. “Using manual processes to approve artwork and specifications is time consuming and prone to mistakes. Without strong workflow automation in key processes, projects are often delayed and quality issues crop up. And, without an easy way to identify new global suppliers, finding open capacity in times of shortages is a monumental task.”
SourceHUB Rapid Global Supply Response program squarely addresses these risks and challenges in this current chaos. Our technology automates everything from supplier selection through order completion, making onboarding faster than ever. And our partnership with MPK Packaging significantly reduces risk with new global suppliers with in-country quality teams across the globe. With travel restrictions, visibility and boots-on-the-ground at new suppliers are two top keys to success.
If you would like to learn more about SourceHUB’s or Rapid Global Supply Response Program, please visit SourceHUB at www.sourcehub.ai.
About MPK International
MPK International provides supply and trade consulting services to help businesses engage with suppliers and service partners. They collaborate with their clients to design, implement, and manage global supply and trade strategies so they can build resilient supply networks, manage risk, reduce costs, and grow their business. Find out more about MPK International at www.mpkinternational.com
SourceHUB simplifies critical processes in the packaging and procurement process. The SourceHUB platform improves communication across internal and external stakeholders, increases visibility of shipments, and optimizes order and approval workflows. Created and built by seasoned packaging procurement professionals, SourceHUB addresses the most endemic issues affecting the industry and helps customers optimize their supply chain. Find out more about SourceHUB at www.sourcehub.ai.