Supply Chain (CONT’D FROM PAGE 37)
There is a growing need for collaboration across the sup- ply chain, with associations like FINAT playing a pivotal role in helping smaller converters adapt. Recyclability and Material Innovation As the market shifts toward sustainability, recyclability has become a key focus. Label producers are working on solutions like wash-off labels that improve the recyclabili- ty of containers. However, the need for continued efforts to find solutions for waste materials like matrix and liner waste was also emphasized. Digital Transformation and AI Integration Digital technology is revolutionizing the supply chain, enabling better tracking, process automation and efficiency. The integration of Artificial Intelligence (AI) into various as- pects of the supply chain was a prominent discussion point. For example, AI could help predict supply chain disruptions and improve decision-making, which is crucial for prevent- ing issues like the shortages experienced in recent years. AI is also transforming consumer interaction with brands. AI-driven tools like generative AI are enhancing the personalization of consumer experiences. Collaboration Across the Supply Chain The future of the labeling industry depends on collabo- ration across the value chain. As the complexity of regula-
tory requirements, consumer demands, and technological advancements grows, it becomes increasingly difficult for companies to operate in isolation. Family-owned busi- nesses, in particular, are under pressure to document and meet sustainability goals, which requires greater cooper- ation between stakeholders. The importance of data shar- ing and standardization was also discussed, particularly in relation to sustainability metrics. Economic Challenges and Supply Chain Resilience The forum also addressed the broader economic chal- lenges facing the industry. The post-COVID recovery has been uneven, with significant fluctuations in demand for labelstock. Many converters have seen sharp declines in profitability due to rising material costs, and there is a clear need for more resilient supply chains. FINAT will host the European Label Forum on May 21- 23, 2025, in Amsterdam, The Netherlands.
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October 21, 2024
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