With RFPs, reduced volumes and shrinking margins, the packaging industry can feel like a commodity business and a race to the bottom. The Paperboard Packaging Council’s (PPC) recent Spring Outlook and Strategies Conference, April 11-13 in Baltimore, offered industry leaders techniques for adding value to their packaging and escaping the commodity business.
Keynote speaker Mike Ferrari, innovation consultant and former Procter & Gamble executive, shared seven secrets to packaging success. Ferrari’s concepts focused on adding value to packaging so converters can reverse the cycle of commoditization and curb margin erosion. Some of these included crucial practices around inventory management, speed to market, customization and e-commerce.