Wednesday, December 11, 2019
Environmental Innovation in Packaging Business
Question: Discuss about the Environmental Innovation in Packaging Business. Answer: Introduction: Amcor Limited is a multinational packaging company based out of Australia headquartered in Hawthorn a suburb of Melbourne, Victoria. The company provides rigid as well as flexible packaging solutions to many industries such as food and beverage, tobacco, medical and home and personal care. (Kelly Tan, 2013) Although an Australian company it generates only 6% of its revenues from Australia and NZ while the rest of the revenues come from the other countries of the world, and importantly 32% from the emerging countries as per their website. As of 2016 Amcor is operational in around 40 countries and has manufacturing sites in around 150 places all over the world. (Amcor, 2016) Long term goals and objectives. From the literature available on the internet their website and their annual report the goals of objectives of Amcor have been summed up as follows.(Amcor Limited, 2015) The company wants to work in sync with the end customers and design the packaging in such a way that meets the requirement of the community as well as that of the product that is being packaged. The management of the company plans to make use of the best quality packaging goods and use innovative systems that not only help in reducing environmental hazards but also at the same time ensure the proper safety and durability of the products being packaged.(Verghese Lewis, 2007) The company wants to bring down the numbers in parameters such as the LTIFR and RCFR every year. The LTIFR stands for lost-time injury frequency rates which mean the number of lost time hours in a given period with result to total numbers of hours we have worked in that given period. The management of the company is committed to become the global leaders in their respective industry and also maximization of shareholders wealth is prime most in their set of goals and objectives. Going forward Amcor has plans to enter the market in more geographic locations and therefore consolidate its position as a global leader. As mentioned earlier right now non-cyclical food and beverage industries are the major contributors to the sales of Amcor. In their bid to become global leaders the companys management is identifying for new growth areas and verticals where they can venture into which would not only make them more profitable but also increase their customer base. Stakeholders and Competitors The stakeholders of the company include its 29,000 strong base of employees who are working for the company in the manufacturing units as well as in other functions such as supply chain, logistics, finance and marketing. Another stakeholder group is the shareholders who remain invested in the company. The customers whose continued patronage make Amcor a global leader and also the vendors and suppliers from which Amcor sources its raw materials and other supplies are also a major stakeholder group. Finally, the financial institutions who have financed a portion of fixed assets and working capital can also be considered stake-holders.(Amcor Limited, 2015) The major competitors of the company are as follows Ball Corporation Crown Holdings International Paper Mondi Owens-Illinois Sealed Air Reynolds Group Stora Enso References Amcor. (2016). About Us:Amcor. Retrieved from Amcor: https://www.amcor.com/investor-relations/about-us Amcor Limited. (2015). Annual Report. Melbourne: Amcor. Kelly, R., Tan, G. (2013, August 1). Australia's Amcor to Demerge Packaging Business. Wall Street Journal. Verghese, K., Lewis, H. (2007). Environmental innovation in industrial packaging: a supply chain approach. International Journal of Production reserach, 4381-4401.