CHICAGO--(BUSINESS WIRE)--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 efficiency.
“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.
