Unfortunately, the coronavirus pandemic is not over yet. And it is still affecting every aspect of our daily lives. With continuing social distancing rules and strict regulations in business, we all feel the pinch.
Even the custom packaging industry is affected by COVID-19. Have you experienced any related challenges lately?
In order to help you be better prepared, we are sharing some insights with you.
Custom Packaging and COVID-19
Like so many other manufacturers, TDI noticed sudden fluctuations in the packaging supply chain.
Production facilities experienced major disruptions in 2020 because of hurricanes, COVID-19 shutdowns, and less available staff.
In the meanwhile, exports to Asian countries have increased. All that while resin producers are still trying to keep up with higher domestic demand.
Because materials are harder to find, deliveries can take much longer. Unfortunately, this trickle-effect takes place all across the board. It affects the entire supply chain: from producers of raw materials to manufacturers, to end-users.
By the same token, prices of raw materials keep climbing.
- As resin materials are in high demand, their rates go up. So in the end, finished products become pricier.
- At the same time, overseas buyers offer more than the asking rate for resin, which causes another price hike.
- Likewise, we experience an ever-increasing inflation rate. Everything becomes more expensive, as time passes by.
How To Prepare Yourself
To be better prepared for these sudden fluctuations, we recommend you take the following steps:
- Order your custom packaging well in advance. Remember you might experience long lead times.
- Also, purchase more than your immediate needs, just in case resin is not available for a while.
- In addition, adjust your list price accordingly, so that you will not incur a loss after the deal is closed.
- If necessary, inform your customers of changing prices and lead times.
Quality in Custom Packaging during COVID-19
All things considered, the expression “you get what you pay for” still counts. It simply means that a higher price will guarantee better quality and service.
Undeniably, those who are not willing to pay the higher price might get a second-rate product. In the end, they could lose a valuable customer.
Service and Quality
Excellent service is essential for the success of any business. However, quality and service go hand in hand. One will not succeed without the other.
At TDI, quality and service are intertwined in our DNA. We call it “packaging happiness.’
Order Your Custom Plastic Bags and Film Today
Please don’t wait until the last minute. Order your custom packaging products today before you miss out!
Give our sales team a call at 714-696-6404 or 714-751-6782 and we will be happy to assist.