Labeling in the Cloud: Driving Sustainable Supply Chains and Digital Transformation
In an era characterized by rapid technological advancement, it has become increasingly apparent that cloud technology stands on the frontline of innovation, poised to transform the way businesses and end-users experience and interact with digital services.
As we look ahead to 2024 and beyond, the omnipresence of the cloud, coupled with its ongoing evolution, holds the promise of reshaping not just the technology landscape, but also the very essence of how companies harness the power of data and computing. One area undergoing such a transformation is labeling.
The future of labeling lies in the cloud
Cloud adoption is proving to be the cornerstone of impactful digital transformation programs, as evidenced by the strong feedback we have received from our customers and partners. Among the many benefits on offer, cloud technology provides quick deployment times, lower upfront costs, easy access, the ability to scale, and automatic updates.
This trend is backed up by the research: According to Gartner, more than 50% of enterprises will use industry cloud platforms to accelerate their business initiatives by 2027. Furthermore, our 2023 ‘Top 5 Trends’ survey revealed that nearly three-quarters (71%) of business leaders believe the cloud or a hybrid solution will be their preferred deployment method for labeling within the next three years.
Enabling traceability for greater supply chain efficiency
One area in which cloud-based labeling will play a vital role in the coming years is its capacity to establish and promote a transparent and sustainable supply chain. According to a 2022 EY study, not only do supply chains account for more than 90% of an organization’s greenhouse gas emissions (GHG), but also 50%-70% of their operating costs. So, how do companies go about solving this issue?
Part of the equation is around how social, ethical, and environmental performance factors into the process of selecting suppliers. With sustainability at the forefront, digital traceability can help companies deliver on their environmental commitments. Being able to trace products both upstream and downstream will become important for managing the product lifecycle and ensuring sustainable sourcing.
These intelligent supply chains can track, trace, and authenticate products at every stage of the journey, from raw materials to consumer goods. Additionally, cloud-based labeling solutions reduce inventory, eliminate a large global footprint, and ensure that all products are made, shipped, and delivered to the right place, thereby avoiding unnecessary loss and waste.
As companies of all sizes strive to drive growth, green their operations, and streamline processes, we expect to see a growing number of forward-thinking organizations adopt the cloud for mission-critical business processes including labeling.