US-based packaging company Sealed Air has outlined its Reinvent SEE strategy with a focus on various key areas to accelerate profitable growth.
Key areas include new innovations, selling, general and administrative (SG&A) productivity, product cost efficiency, channel optimisation, and customer service enhancements.
Sealed Air plans to focus on new and existing high-growth markets by investing in technology and resources, which will double the company’s innovation rate over the next five years.
The company will simplify the structure and upgrade end-to-end processes in a move to expand SEE operational excellence. It will enhance manufacturing, procurement, conversion cost productivity, materials yield, and network efficiency across its global operations.
Sealed Air president and CEO Ted Doheny said: “Over the last several months, we conducted a thorough assessment of our entire organisation and the market opportunities available across the global packaging industry.
“This assessment confirmed that we are well-positioned to continue delivering organic growth above our core markets. It also reinforced the need to grow market share and move into adjacent markets with greater speed and efficiency, as we accelerate returns on our highly differentiated innovations.”
The company plans to increase market share in existing and adjacent markets by utilising its distribution network. It plans to invest in digital systems and processes to enhance cycle time and responsiveness.
Doheny added: “By improving how we innovate, buy, make, and solve, we will address our customers’ most critical packaging challenges, lead the industry with sustainable solutions, and make every customer a reference.”