True Worth: Understanding a Supplier’s Value to a Brand
Taking Logistics to the Next Level
A supplier’s role doesn’t end with the package design phase or initial product launch to the market. The ability to maximize production efficiencies, and in turn, manage costs by putting inventory checks and quality control measures in place, is another important part of its responsibilities. Understanding the intricacies of the industry, including market history, seasonality and consumer trends, will mean that a brand is ready to ramp up production as needed or to identify when a design refresh or overhaul would be prudent. Suppliers should also be familiar with a brand’s order patterns and cycle times to make sure that orders are filled on time, issues are efficiently resolved and production continues without interruption.