InnerWorkings, Inc. (NASDAQ: INWK), a leading marketing execution firm,
announced a new partnership with a publicly traded national retailer to
manage its private label packaging program, which encompasses all
consumer packaged goods categories. InnerWorkings was selected to
deliver cost reductions, enforce brand consistency, and re-engineer
packaging specifications across the portfolio.
In virtually all private label packaging solutions today, retailers are
not directly involved in the sourcing, selection, or overall brand
control of the product portfolio. Private label manufacturers or
co-packers historically manage this process from start to finish,
providing retailers with pricing only at the finished goods level -
which includes both packaging costs and actual product costs bundled
together. As a result, retailers lack any meaningful opportunity to
leverage cost optimization measures inside their supply chain.
Further, with multiple products and co-packers engaged, retailers
struggle with inventory control and brand consistency across their
private label brand portfolio as they are forced to interact with far
more packaging suppliers than necessary to meet their needs.
InnerWorkings applies a decidedly different approach by separating
packaging from all other product and manufacturing costs, sourcing each
component of a product independently to capture optimal efficiencies,
savings, and visibility into every step in the packaging supply chain.
In doing so, brands can ensure that every element of their product is
sourced, produced, packaged, and distributed with quality and optimal
"Packaging has become an increasingly important part of the
InnerWorkings solution set," stated CEO Eric Belcher. "Our innovation in
private label packaging is applicable to all major retailers looking for
cost reductions across the packaging supply chain, as well as brand
consistency across the broad range of product labels and packages."
InnerWorkings is leading implementation efforts for this key retailer
throughout 2014, with an expected launch in 2015.
Beyond private label management services, InnerWorkings partners with
global brands to deliver innovative and cost effective solutions across
the entire packaging supply chain, including luxury and value-added
packaging, POP/POS displays, fulfillment solutions, retail-ready
packaging, primary and secondary product packaging, flexographic
packaging, and specialty/custom packaging and design.
About InnerWorkings, Inc.
InnerWorkings, Inc. (NASDAQ: INWK) is the leading global marketing
execution firm serving Fortune 500 brands across a wide range of
industries. As a comprehensive outsourced enterprise solution, the
company leverages proprietary technology, an extensive supplier network
and deep domain expertise to streamline the production of branded
materials and retail experiences across geographies and formats.
InnerWorkings is based in Chicago, Ill., employs approximately 1,500
individuals, and maintains 67 global offices in 30 countries. Among the
many industries InnerWorkings serves are: retail, financial services,
hospitality, consumer packaged goods, not-for-profits, healthcare, food
& beverage, broadcasting & cable, and transportation. For more
information visit: www.inwk.com.
Source: InnerWorkings, Inc.
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