Packaging accounts for over $150 billion in annual spending for manufacturers and shippers. It also contributes to 75% of greenhouse gas emissions from the supply chain. However, to alleviate environmental risks, many companies are investing in re-shoring factories, “just-incase” inventories, and qualifying alternative suppliers to build flexibility.
Companies continue to grapple with the impacts and face lingering effects of the pandemic, actively seeking ways to mitigate supply chain disruptions and explore alternative sourcing options.
As we now fully leave 2022 in the rearview, we can admit that it brought more change to the global supply chain than ever before. To be optimistic, it made countries rethink the way that they do business with each other, and pushed industry professionals to seek better and more sustainable practices.
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