The US economy is on the up and up. Manufacturing is increasing. How has that impacted your supply chain?
Here are 3 packaging tips to consider this summer:
- Pay attention to the details on the front end
- Overestimate the amount of time it will take for your custom order to get delivered
- Make sure your invoices are paid on time
1. Pay attention to the details on the front end
When an inexperienced buyer is in a hurry for a custom order, they express a variety of emotions. The more emotions expressed, the fewer details they pay attention to. Have you ever noticed that grumpy people tend to spot every single little problem? Don’t let your client’s emotions distract you. Remain focused on the details: product, style, size, dimensions, color, material, shipping details, and payment terms.
If you are going into this order already in a time crunch, the last thing you want is to overlook an important detail, manufacture the order incorrectly, and end up having to make it again. This will only cost you more time and more of your money. If needed, have a coworker double-check the purchase order and details to confirm accuracy.
2. Overestimate the amount of time it will take for your custom order to get delivered
If you have a product getting ready to go to market, and the packaging is the last component you’re waiting on, give yourself plenty of time. Manufacturing is increasing across the board and, as a result, lead times and turnaround times are getting extended.
Budgeting a little extra time on the front end, will help you avoid having to expedite shipments unnecessarily. Sure, you can air freight that LTL shipment, but what does that do to your bottom line? Extra time will also come in handy in case the manufacturer makes a mistake, uses the wrong color, or something as simple as their shipping guy calls out sick the day your shipment is supposed to go out.
Manufacturing lead time + shipping time + a little extra time = your best bet
3. Make sure your invoices are paid on time
Paying your bills on time is not just the best way to conduct business, it will benefit you in the long run. If your company has terms (an open account) with vendors, but doesn’t pay within the time period agreed upon, you establish a poor business reputation with your vendors. As unsecured creditors, they become hesitant-maybe you’ll pay late again…but maybe you won’t pay at all this time?
Make a conscious effort to always pay your bills early or on time. This will help establish a positive, trusting working relationship with vendors. Then, when that time comes when you’re in a hurry, made an internal mistake, or just need a favor, the positive reputation you’ve established and maintained over the years will pay off.
Don’t be that person who doesn’t ever seem to pay on time, but always seems to be in a rush or needing something obscure.