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FLEXO Magazine : February 2014
INDUSTRY INDICATORS Secrets To Packaging Success Ernst & Young Spells Out Seven Keys to Operational Efficiency Ernst & Young approximates the value of the global consumer packaging market at $400 billion and $500 bilion if industrial end markets are included. Of the five segments, paper and board is said to be the largest, com- manding more than one third—34 percent—of the market. It names rigid plastics as the second largest and one of the fastest growing, predicting 4 percent growth per year through 2015. And the Brazil, Russia, India and China markets togeth- er comprise roughly 30 percent of global demand, a number that is growing as the countries’ economies develop further. These are vital statistics and numbers for anyone in the packaging market to be aware of, but they only act as individu- al data points. In Ernst & Young’s Unwrapping The Packaging Industry: Seven Factors for Success, the company identifies seven “obstacles to being successful as a packaging produc- er. ” Overcoming them is an obvious goal, and “an understand- ing of them will be helpful to both strategic and financial inves- tors, as well as packaging management teams, in challenging or validating current practices and performance. ” PRINCIPLES TO FOLLOW • Raw material prices • Waste not, want not • The best bang for your buck • Operational performance • Product, customer profitability • Innovation • Supply chain balancing & offshoring Ernst & Young’s Unwrapping The Packaging Industry: Seven Factors for Success offers insight into obstacles packaging companies need to anticipate and overcome. 56 FLEXO FEBRUARY 2014 www.flexography.org Unwrapping the packaging industry Seven factors for success