Chicago, Illinois, U.S.A.-based Varcode recently received USD 3.5 million (EUR 3.5 million) from the National Packaging Group (NPG) to allow it to develop so-called "smart-packaging" solutions.
The company plans to begin by developing and launching two product categories: Corrugated SMART Cases and SMART Packaging Kits.
The agreement will incorporate Varcode’s patented Smart Tag technology and create a single-sourced product that is digitally enabled to improve cold-chain food products – including seafood – and pharma products that will simultaneously minimize product waste and improve margins, the company said. The agreement will also see the two companies coordinate sales of the packaging products collaboratively.
“In recent years, innovation in manufacturing, technology, and product development has been the cornerstone of our business strategy,” NPG Chairman and CEO Dennis Mehiel said. “Varcode’s comprehensive offering of Smart Tags, scanning suite, and management suite technologies, combined with NPG’s advanced design and manufacturing capabilities, will enable our business-to-business and direct-to-consumer customers to significantly improve their overall operations, reduce waste, and increase revenues."
By utilizing Varcode technology, NPG’s products can be digitally tracked and analyzed, providing cumulative reports on temperature excursions, which according to Varcode will produce a cost-effective and permanent digital record.
“Both Varcode and NPG are committed to optimizing operational strategies for production, packaging, and supply chain for manufacturers, wholesalers and retailers of food products, pharmaceuticals, and other time and temperature-sensitive product categories," Varcode CEO Joseph Battoe said. "This logical partnership immediately strengthens our abilities to deliver on those commitments with even greater efficiency, affordability, and reliability for our customers.”
