McLoone Blog

End of the Year Purchasing Review Have You Stressed? Relax!

Written by Vicky Bowie | Nov 24, 2020

2020 has been a year like no other. The pandemic has hit every sector of every country of the world. Companies and workers have had to adapt to working from home, or completely different working conditions and safety precautions if you are on the front lines for production. Moving into 2021, there is hope that a vaccine will make things safer, slow the spread, and allow some degree of normalcy. This doesn't change the fact that there are still regular reviews that need to happen. Instead of adding to the stress and anxiety, here are a few quick hit items that should help for your supply chain review in respect to product identification.

1. Do you have a forecast?  No doubt, this year has proven that a forecast is not a guarantee. Does this mean you should throw the process and forward-looking out the window? Not at all! It absolutely means taking a different look at your forecasting. Instead of looking 6 months or more into the future, concentrating on the next quarter or two may be more lucrative. Once you have an idea of production needs, review pricing with your nameplate or label vendor to identify opportunities for creative ordering. Visibility into your production needs not only helps your inventory, it allows planning by your vendor to be as accommodating as possible to keep your lines filled.

2. Has there been any artwork changes? Many companies this year have changed direction and expanded into different products - especially if it could help with the management and precaution of spreading the virus.

If there has been a change for your company in terms of logo, corporate colors, a merger, or acquisition there may be need to revise the graphics or text that is printed on your nameplate or label.  Another reason for updating artwork is receiving a mandate from a regulation update such as OSHA or UL.

Each of these scenarios is reason to review and submit new artwork files to our Customer Care team. We will work with you so your next order is in line with your corporate message and compliant with industry standards.

3. Are there new products that will be launched? Product launches, design shows, unboxing events and the like have historically been highly publicized with mass gatherings of people to celebrate the event. COVID-19 has certainly disrupted this tradition. Fast Company published an article in August suggesting companies absolutely can launch new products even in the face of this pandemic. This is good news!

Ensuring you have up-to-date pricing and understanding of lead times for the nameplates and labels is key to successful branding of the new product. Get us involved as early in the process as possible so that when you are ready to launch we can support your efforts.

How Can We Help?

Over 65 years providing economical identification solutions for companies across the world has taught us a few things. Let us review your needs and work with you to determine if there is a better way to produce, or make sure that you are set up well for the coming year.

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