Walking the Walk
State-of-the-art information systems support Multi-Color Corporation’s Lean Manufacturing efforts to more effectively meet its customers’ needs.
February 2008 by Tom Polischuk
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Success is measured in many ways. For public companies in North America, there are a number of key parameters. Revenue growth, stock price, shareholder equity, and earnings per share are some of the more visible metrics.
Based on these measuring sticks, Multi-Color Corporation (MCC), headquartered in Sharonville, Ohio, is a very successful company. Under the leadership of Frank Gerace, president and CEO, its revenues have increased 123 percent during the last five-year period, coming in at $222 million for its 2007 fiscal year. Its impressive earnings growth during that same period has provided shareholders with an overall five-year annual return of 22 percent.
In October of last year, Multi-Color was listed, once again, on the Forbes Best Small Companies list, ranking 86th. Forbes judges the companies based on return on equity, along with sustained sales and net-profit growth over 12-month and 5-year periods.
According to Dirk Edwards, director of marketing for MCC, the company provides innovative decorating solutions to many of the world’s largest consumer goods companies in markets including automotive, beverage, food, health and beauty, and household products. It can supply primary product labeling incorporating any of five primary technologies—cut-and-stack, in-mold labeling, heat-transfer, pressure-sensitive, and shrink-sleeve.
Not a company known to rest on its laurels, Multi-Color recently signed an agreement to acquire Collotype International Holdings. The acquisition of Australian-based Collotype, with operations in Australia, South Africa, and the U.S., will add a major presence in the global wine and spirits market to go along with MCC’s strong position in the consumer products markets.
There are many factors that contribute to this level of growth and success, not the least of which is strong leadership that sets direction and provides the resources and rewards to support implementation. One course of action that has contributed to MCC’s bottom-line success has been its embrace of Lean Manufacturing principles.
Being Lean
There are many aspects of Lean Manufacturing that are important, but two of its overriding tenets are: focus on the customer and focus on value. Put these two concepts together and one gets a focus on adding value for the customer—anything in an operation that doesn’t add value for the customer is waste and should be eliminated from the operation.
Implementing Lean Manufacturing principles encompasses all aspects of a business and involves all of its people to make it work as intended. Because of this, “Lean commitment starts at the very top of organizations,” says Bret Arnone, director of operations at Multi-Color.
Based on these measuring sticks, Multi-Color Corporation (MCC), headquartered in Sharonville, Ohio, is a very successful company. Under the leadership of Frank Gerace, president and CEO, its revenues have increased 123 percent during the last five-year period, coming in at $222 million for its 2007 fiscal year. Its impressive earnings growth during that same period has provided shareholders with an overall five-year annual return of 22 percent.
In October of last year, Multi-Color was listed, once again, on the Forbes Best Small Companies list, ranking 86th. Forbes judges the companies based on return on equity, along with sustained sales and net-profit growth over 12-month and 5-year periods.
According to Dirk Edwards, director of marketing for MCC, the company provides innovative decorating solutions to many of the world’s largest consumer goods companies in markets including automotive, beverage, food, health and beauty, and household products. It can supply primary product labeling incorporating any of five primary technologies—cut-and-stack, in-mold labeling, heat-transfer, pressure-sensitive, and shrink-sleeve.
Not a company known to rest on its laurels, Multi-Color recently signed an agreement to acquire Collotype International Holdings. The acquisition of Australian-based Collotype, with operations in Australia, South Africa, and the U.S., will add a major presence in the global wine and spirits market to go along with MCC’s strong position in the consumer products markets.
There are many factors that contribute to this level of growth and success, not the least of which is strong leadership that sets direction and provides the resources and rewards to support implementation. One course of action that has contributed to MCC’s bottom-line success has been its embrace of Lean Manufacturing principles.
Being Lean
There are many aspects of Lean Manufacturing that are important, but two of its overriding tenets are: focus on the customer and focus on value. Put these two concepts together and one gets a focus on adding value for the customer—anything in an operation that doesn’t add value for the customer is waste and should be eliminated from the operation.
Implementing Lean Manufacturing principles encompasses all aspects of a business and involves all of its people to make it work as intended. Because of this, “Lean commitment starts at the very top of organizations,” says Bret Arnone, director of operations at Multi-Color.
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