With rising inflation and a pending recession, many companies are publicly (and privately) creating initiatives in an attempt to take hundreds of millions of dollars of packaging out of their supply chains. But packaging is about more than just financials, it’s also about sustainability. And reducing packaging costs while driving sustainability doesn’t have to be a trade off – if you have the right data and tools in place, you can do both.
“Where we see sustainability opportunities for us in the industry as a whole is looking for biomass reduction. And with packaging, we use a tremendous amount of corrugated or paper products in general, and we need to be able to recognize what those products are that we’re packaging with, being able to identify volumes, costs and so on, so that we can actually put number to those biomass reductions in relation to the amount of corrugated, amount of paper, anything that goes into the packaging product.”
Packaging professionals can manage the entire packaging life cycle, from ideation to production. Easily create, share, and keep track of packaging specifications and work with suppliers to bring packaging to market.
Matthew Wright is the founder & CEO of Specright. Prior to founding Specright, he spent more than 25 years in the packaging industry, holding leadership positions at International Paper, Temple Inland, and rightPAQ — a packaging company he co-founded. He has also been involved in leading multiple M&A deals in the packaging industry. He sits on the Packaging Advisory Board at Cal-Poly San Luis Obispo.