How To Keep Labelling Costs To A Minimum
With rising costs dominating the headlines and at the forefront of everyone’s minds, businesses of all shapes and sizes are looking at ways to reduce expenses and improve efficiency. As prices for many consumables are being increased, now is the time to look for ways your business can cut back on everyday items. Failing to properly reduce expenditure can lead to a smaller bottom line, and while it can be tempting to pass the increased costs on to customers, a more efficient solution is to keep expenses down. Labels and labelling machinery are often a significant cost, but there are some things you can do to keep labelling spend to a minimum.
Avoid Overbuying Labels In Bulk
We all know that buying in bulk can save money, and this is certainly true when buying labels for your labelling machines and products. While you can save some cash placing a larger order for your labels, this is also a high-risk strategy and should be taken with caution. Many product labels change frequently, and if this is the case for your brand, then buying in bulk might not be an effective solution. Not only that, but depending on your product range you could be at the hands of a volatile market, and should you need to change or discontinue a product, you don’t want a large inventory of labels sat in your warehouse. Every business will have a sweet spot for label quantities to order, which will give you the most efficient option for your products.
Don’t Make Label Changes In Haste
It is possible to save money on your labels by changing designs, materials, or sizing. Opting for a smaller sized label will in turn reduce costs or switching to a different label stock could save you some money. However, these are not decisions to be made in haste and should be properly considered and tested. Switching materials might leave you with labels that peel off easily or don’t sit properly on your product surface. Changing the size of your labels or positioning on your products could impact your current labelling machinery, so you should always ensure your existing equipment can handle the changes you are planning. If you do want to change your product labels to reduce costs, be sure to take the time to properly test the new options before rolling out.
There is no one quick fix that all businesses can make to reduce labelling costs, as this will depend on each brand and product range individually. If you are using a contract labelling service you can speak to your supplier about options to keep expenses down. Depending on the size of your production run, you could benefit financially from investing in your own labelling machines on site. For more information on labelling machinery and how to minimise costs for your business, speak with our experts today.