Conclusion driven by various factors, including product shortages and cost pressures.
A new report by Loftware, an enterprise labeling organization, says nearly three quarters (71%) of companies surveyed believe that the cloud or a hybrid alternative will be their preferred deployment method for labeling within the next three years, increasing from just under 40% last year.
The survey, pulling on viewpoints from nearly 500 professionals across 55 countries, found a shift in attitudes toward cloud technology. Driven by the need to protect operations from ongoing supply chain disruptions, product shortages, cost pressures, process inefficiencies, and manual errors, Loftware's 10th annual report revealed that 50% of businesses deploy important business applications in the cloud.
According to Loftware, a majority of the surveyed businesses reported that supply chain challenges had directly impacted their business, with 93% stating it's important to have a business model that supports speed and agility in today's evolving business climate, and 62% believing that extending labeling to partners and suppliers enables them to avoid re-labeling.
Seventy percent of respondents highlighted global traceability as a priority for their business in the coming year, citing the need to ensure quality, safeguard products, protect patients, streamline the location of inventory, and guarantee on-time delivery to market. Forty-nine percent believe the inability to effectively manage recalls is the biggest risk of not being able to track products through the supply chain, up from 33% four years ago. This results in businesses using the benefits of cloud technology to provide faster reaction times when managing potential recalls.
“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,” says Josh Roffman, SVP of marketing and product management at Loftware.