Tips on Maximizing Your Label Spend
As of October 2021, global supply chains are still in dire straits. Most people reading this probably already know this. So, what can businesses do to help themselves in the short term? One of those things might be revisiting their label strategy to see if they can more efficiently maximize their label spend when ordering labels from companies like Hub Labels.
You need labels, and while cutting corners and sacrificing quality is not an option, there are some intelligent and pragmatic things that can be done to increase efficiency while creating a smarter cost for your label orders. We wanted to list out some of those things in this post.
First things first, let’s start with something we here at Hub can do. Hub Labels can conduct a label audit to uncover new strategies to make your label spend become more efficient for your company. We recently did this with one of our customers by reviewing their order pattern. Instead of ordering monthly we put a quarterly blanket in place based on their forecast. Ordering multiple products doesn’t always save money on the customer end because of the changeover fees included but ordering more labels at once is a cost saving when you break down the cost per label.
Essentially you can decrease your unit cost by increasing your order quantity. A blanket order is an order a business makes with their supplier that contains multiple delivery dates over a particular period. Blanket orders like the one we provided to our customer mentioned above will allow them to spread their costs out over a longer time frame while not effecting their regular inventory space. This also invites the potential of saving on storage costs.
If possible, being open to reducing your label size slightly to maximize the layout and efficiency on press can be beneficial. There may be very slight label size reductions that could change how your labels would run on a press. This would maximize the total efficiency of how a label can produced. Also, the smaller the label the less it weighs making it cheaper to ship.
When applicable, you may also be able to reduce the thickness of your current labels. A 54# semi-gloss versus a 60# semi-gloss is an example of a potential solution when it makes sense to do so. Thinner labels mean there will be more labels on a roll, less boxes, less weight, and less freight cost. However, thinner materials also means that the material is less opaque which could lead to problems itself.
This is the type of thing that you we can discuss with you to see if we can produce something that meets or is feasible for you label needs.
Labels are constructed using many types of paper or film substrates. They are then coated with many types of adhesive choices which are delivered on many types of different liner types. With all the variables to consider, it may be that your label is over-engineered to exceed the demand that your label may present. A review of the materials used for your current labels may help uncover a new material choice that serves the same application demands but is less expensive.
Proper storage is another way you can maximize your label efficiency. Storing labels safely off the floor can reduce the risk of causing dents in rolls or labels that will force you to throw out damaged product. Proper storage increase efficiency as well as you won’t need to have employees to take time away from other things to deal with damaged labels.
& Much More
This a just glimpse into what might be possible for you when it comes to maximizing your label spend potential. Really the best thing to do is partner with a label provider who can work with you closely on strategies like these to help your business. Having a label provider that is experienced and willing to work with closely and intimately with a business can make a big difference. Hub Labels might be that place for your business. Please reach out and find out more about how we can help.