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Cloud labeling to become table stakes in modern global supply chains, Loftware survey reveals

Cloud labeling to become table stakes in modern global supply chains, Loftware survey reveals
73% of companies believe cloud will be preferred method for labeling applications in next

Almost three quarters (73%) of  companies believe the cloud will be the preferred method for labeling applications within the next three years, according to an annual report published today by Loftware, the largest global software company specializing in Enterprise Labeling and Artwork Management solutions. This compares to just 50% of respondents reporting their company’s likelihood of adopting a cloud-based solution a year ago.

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The global report (‘Top 5 Trends in Labeling and Packaging Artwork 2022’), which draws on insights from nearly 1,000 professionals across industries in 55 countries, found a significant shift in business attitudes toward cloud technology over the last 12 months. Driven by the COVID-19 pandemic and recent supply chain crisis, businesses now recognize that labeling is no longer a tactical necessity, but an enabler for business growth and agile supply chain operations.

The majority of business leaders surveyed (90%) recognize that standardizing and centralizing labeling will help them to keep pace with business growth, while more than eight in ten (84%) companies cited cost savings and compliance as key benefits of introducing a modern labeling solution. While 42% of businesses reported having already moved to the cloud for their enterprise applications, more than half risk lagging behind their peers.

“When speaking to our customers and partners, it’s clear that one subject is top of mind: cloud adoption. Forward thinking companies see the opportunity. There is huge potential to scale, standardize practice, and ultimately drive improvements across the enterprise. Businesses that can effectively pivot and embrace new plans for maintaining business will have a competitive edge and set themselves up for future success,” said Josh Roffman, Loftware Senior Vice President of Marketing and Product Management.

The report also revealed that COVID-19 is set to have a lasting impact on the way businesses operate. With the continued surge in online shopping comes a renewed focus on labeling and packaging to accommodate increased packing and shipping as consumers move away from traditional retail and purchasing from brick-and-mortar establishments. This trend was highlighted in Loftware’s survey, with almost half (43%) of respondents expecting their organization to adopt more of an e-commerce business model as a direct result of the pandemic.

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In addition, 63% of businesses reported that cost-cutting and operational savings have become more important to their business because of COVID-19. Moreover, the shift to dispersed working isn’t expected to wane anytime soon and could long outlast the pandemic itself. As a result, a growing number of companies are investing in cloud-based technologies that allow employees to work, collaborate, and contribute even when they’re not physically onsite. This was supported by 57% of respondents who said it is important to print labels remotely to enable their business operations.

“Business models are changing. If 2021 was the year the world learned the importance of agile global supply chains, this year will be dominated by the need to adjust to these new realities. Businesses around the world are grappling with labor constraints, port congestions, driver shortages and raw material outages – to name just a few. This is why it’s vital that business leaders think differently about processes, operations, and supply chains to ensure prosperity,” added Roffman.

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[To share your insights with us, please write to sghosh@martechseries.com]

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