Companies spend a lot of money by use of bubble wraps to fill cartons to protect goods. Other costs may be due to the packaging design necessary to shout out the brand message to prospective customers. Cost-cutting is an operational strategy for all companies, large or small. It is possible to save money without changing the product but through packaging.
We can improve on our product packaging and make massive savings. Small adjustments and redesigning the packaging will save money, especially where shipping costs are involved.
Below, we look at five easy ways to save money on product packaging. Keep reading.
1. Carry out a detailed research
Before we choose the right packaging for our products, it is vital to first research on the different options in the market.
- The digital revolution has enabled us to do business with convenience. It offers a perfect opportunity since we can research the internet on the type of packaging materials available depending on the technology used, materials and design.
- Choose a package with a unique and efficient design. A high-quality option will last many days and will ensure our products withstand long journeys and handling.
- When doing research, we consider the material costs, durability, and handling and regulations put in place by the authorities.
2. Adoption of technology
With new technology taking shape, old products may need some redesigning to reduce the cost of packaging. We can adapt a number of techniques such as the use of digital printers.
- We can also print large materials simultaneously, and this cuts the cost of printing individual items.
- We can also use automatic packaging that will help speed the packaging. The adoption of technology involves letting go of conventional ways of doing business and adopting new technology.
- Also, we can buy a machine that automates the packaging procedure. Although automation may involve letting go of some employees, it will help cut costs in the long term.
- In most cases, we can order bulk packaging materials to help enjoy economies of scale. Through the use of digital printing machines, there will be a reduction in costs, and this will reduce the problem of obsolete inventory.
- If the cost of buying a digital printer is beyond our company’s budget in the short term, we can hire. Alternatively, we can partner with a printing provider, and this will help in meeting the packaging needs.
3. Prioritize on the packaging process
We need to prioritize on packaging when developing a new product. Failure to do this may result in incurring more costs as changes may occur just before the launch.
- Instead of wasting money by over packaging due to lack of enough time, strategize early.
- We might need to redesign its packaging strategy, which can save on costs. For example, if our company produces soft drinks, we can have the details printed on the bottles.
This approach effectively reduces the number of materials used on the bottle and changes its shape, thus improving packaging.
4. Improve on efficiency
We may not change our packaging materials. However, we can look at other ways to reduce costs. For example, efficiency can lead to lower costs.
- Large production reduces costs per unit. Similarly, a reduction in labels and regular machine maintenance can lead to lower production costs.
- We may consider reviewing our processes and probably invest in new machinery, which will save on overall production and operational costs.
- When it comes to hiring a printer, we can consider a universal one that meets industry standards. These printers can print efficiently and therefore enable us to order small units from different printers. This approach can help save on storage costs and shipping costs.
5. Use small boxes to maximize space
Sometimes back, we would ship products in big boxes. It was the standard practice, but this occupied much space inside a track.
We can ship many items by packing in small boxes. An estimated 165 million packages are shipped annually. Also, if the products are too small, they can be shipped in individual envelopes to help save on storage space.
enKo (a company that sells discounted Zebra, Dymo, & Avery compatible labels) says that the packaging costs are affected by several factors, such as technology, storage, and shipping. We can reduce packaging costs by redesigning our packaging, use of small packages and adopting technology to improve efficiency.