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.
U.S. companies outsourced their labor to China for decades, but the COVID lockdowns reflected just how dependent not only the U.S., but countries around the world are on China.
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