BARCODING, LABELLING & PACKAGING
stored in the cloud is accessible for all project participants improving co- operation and efficiency.
Here, we’ve touched on just a couple of ways that digitalisation is enhancing the packaging industry. But there are a range of other applications that players in the industry can capitalise on, including active and intelligent packaging that embeds RFID (radio-frequency identification) chips; tracking print technology to meet regulatory requirements for traceability; just-in-time movement of goods through intelligent packaging print that can, for instance, monitor and manage cold chains in the food industry; cloud linkage between customers and producers that helps improve the customer experience by bridging digital and physical interactions, and more. However, financing the investment of this technology is a key challenge for many packaging manufacturers.
“
Even in times of economic turmoil, it’s important that these companies keep up with developments, otherwise they risk losing ground to competitors
That’s why many manufacturers are now embracing financing arrangements which enable them to invest in new equipment and technology with confidence. Pay-to-use and pay-for-outcomes agreements are effective alternative methods of funding equipment and technology investments and upgrades. Such financing techniques spread the cost of technology over an agreed financing period, whereby the customer’s monthly finance payments can be aligned with expected benefits gained over time from new/retrofitted equipment, such as improved productivity, operating cost savings, energy efficiency and access to new markets. This removes the need for a large initial outlay and leaves existing funds available for other expenditures. In other words, asset finance enables
”
manufacturers to access the latest technologies without having to commit scarce capital or use traditional lines of credit. Financing arrangements can also cover other costs such as installation, as well as provide flexibility to upgrade technology in line with developments.
Unlike traditional, generalist financiers that might lack comprehensive technical knowledge to fully evaluate the impact a potential investment can bring to a packaging producer, specialist financiers active in the manufacturing arena understand the technology, its potential future value and its practical application. This comprehensive understanding of the financed equipment and technology enables specialist financiers to determine appropriate and tailored financing solutions that meet the customer’s specific needs. Their expertise in the equipment to be financed makes it possible for specialist finance providers to assess the cost savings and/or expected benefits for the term of the agreement and factor that into the financing arrangement. Moreover, they can devise financing plans that cover a broad range of costs associated with using the equipment and technology, not just the cost of acquisition, meaning greater transparency regarding the expected operating costs for the customer. By using flexible financing, manufacturers have the opportunity to benefit from the investment in equipment and technology straight away rather than delaying their acquisition, and through that timely investment gain an important competitive advantage.
There are a host of benefits digitalisation can bring to manufacturers in the packaging industry. Even in times of economic turmoil, it’s important that these companies keep up with developments, otherwise they risk losing ground to competitors. Partnering with a financier that understands the industry can help them on the path to digitalisation, while protecting the all- important bottom-line.
Siemens Financial Services
www.new.siemens.com/uk/en/products/
financing.html
FACTORY&HANDLINGSOLUTIONS | NOVEMBER 2020 27
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52
