As the lockdown on the economy lifts, printing and packaging companies can expect to see an upturn as demand increases for products and services. But this recession is unlike others we have seen in the past, and non-economic factors will impact the bounce back.
Now is the time to be evaluating where you are and how your team is doing and forging a path to becoming an even better company. This business pause has presented business leaders with the opportunity to evaluate their company cultures and make sure that their teams are performing efficiently and cohesively.
The packaging industry is facing a number of changes driven by factors including e-commerce, new supply chain models, sustainability requirements, and increased customization. Digital printing is among the emerging and expanding technologies that are allowing these changes to occur.
In print, the best practices have been evolving for years across a diverse group of segments and there are plenty of lessons to be learned. Benchmarking against industry leaders and average companies provides invaluable insight and can set a struggling company on a new strategic path or even take an average firm to the next level of profitability.
In a new research program from NAPCO Research and the PRINTING United Alliance, key business indicators are being tracked in an effort to monitor the impact of COVID-19 on package printers and converters and the expectations for economic recovery.
As of May 1, SGIA and PIA will officially unite in a merger of the two entities, which will bring resources and services together under one roof to best support future industry growth and longevity.
In the view of government affairs expert for the printing industry Lisbeth Lyons, the work that Congress must do to stimulate recovery from the COVID-19 pandemic is off to a solid start – but is nowhere near close to completion.
There is no overstating the overwhelming effects of the COVID-19 pandemic. The good news is that we’re adaptable as print and graphics providers. What can we do to continue to serve customers we already have while anticipating the need to fill the pipeline to fuel our recovery?
Congressional leaders have reached an interim pandemic relief bill that extends the SBA loan program. This news comes only a few days after it was announced that an updated Guidance on the Essential Critical Infrastructure Workforce would specifically deem printers and packagers as “essential” businesses.
We are at an inflection point like we’ve never seen before. Lessons learned from previous national crises — such as September 11 and the Great Recession — will be well-served as companies emerge from the COVID-19 pandemic. But will that be enough to successfully rebound to pre-pandemic business levels?
