Yes, it’s true, and we couldn’t be more proud. The Bank of England has formally accepted and embraced the dramatic benefits of polymer – the same financial and environmental advantages which savvy supply chain operators already enjoy. Full disclosure, we are talking about the new £5 note made from polymer, not the range of retail ready packaging solutions provided by Polymer Logistics. When you look at BOE’s rationale for going to plastic for the attractive New Fiver, however, the same compelling talking points speak to supply chain operations as well. The power of polymer can be a game changer in your wallet as well as for your bottom line.
First of all, BOE has found the New Fiver to be cleaner. To be precise, Mark Carney, BOE’s Governor says, “The impermeable and non-fibrous nature of polymer means it repels dirt and moisture.” Did you know that the average paper banknote has been determined to carry 26,000 bacteria? If a single paper note harbours so many bacteria, think about how many occupy a soiled wood pallet!
Secondly, the polymer notes are stronger and therefore resistant to tearing – the leading cause of paper note retirement along with being washed, chewed or eaten (we are not making this up!). In a similar vein, the strength of plastic packaging provides superior product protection and eliminates crushing and puncture damage to goods in the supply chain. This translates into fewer claims and eliminates the need for logistics heroics to replace the unsalable items.
Thirdly, BOE says the polymer notes will last 2.5 times longer than their paper predecessors, which will benefit significantly the environment. As the notes will last longer, fewer will need to be printed, meaning less energy will be used in manufacturing and transportation of cash. When a polymer note reaches the end of its life, it can be recycled into new plastic products. No surprise, users of reusable plastic packaging are already quite familiar with the environmental and financial benefits of durability and reuse.
Finally, the polymer Fiver boasts state-of-the-art new security measures and an attractive appearance that paper notes just can’t match.
When it comes to the benefits of polymer for your supply chain, don’t only take it from us. Check with Governor Carney and BOE. It’s money in the bank.