A brief outline of Multiplastics Ltd: Innovations

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1. Abstract Summary

A brief outline of Multiplastics Ltd Is discussed including the nature of their business and the problems and inefficiencies they encounter. Numerous Innovation tools are investigated leading to a recommendation towards a focus on the strengths, the elimination of weaknesses and the investigation into the opportunities using the SWOT analysis method.

1.1 Introduction

This report demonstrates the use of an innovation tool and its application in business to provide solutions to problems or inefficiencies that are present. The report specifically focuses on the company, Multiplastics Ltd and the circumstances. An innovation tool will be applied in order to offer a solution to their problems and recommendations will be made as to what changes should be put into place in order to improve their business.

1.2 Background

Multiplastics Ltd are a plastic sheet stockholder and have a head office in Basildon, Essex and a branch in Coventry. They stock many forms of plastic sheet including Acrylic, Polycarbonate, PVC and PETG. As well as stocking flat sheets in a variety of thicknesses and colours, they also offer a number of processing services which include cut-to-size panels, diamond polishing, edge profiling and multi-sheet CNC routing, a facility which is unique to Multiplastics in the market. Muti-sheet routing as the term implies means that the router cuts panels from multiple sheets stacked on top of each other by means of a hydraulic moveable beam, which moves in conjunction with the router heads. The beam holds the sheets in place as the router head cuts. This enables Multiplastics to produce high volume at low cost compared with convention suction bed routers.

The principal customer base of Multiplastics consists of Point of Sale companies and the competition is fierce with approximately ten competitors and no restriction on how a sale is done in terms of what price like for like sales can be sold at by different companies.

Multiplastics have a number of problems and inefficiencies on a number of fronts and change is required in order to increase profit margin and market share

One of the problems is that Multiplastics are based in Essex and although they have a branch in Coventry, this is merely a sales office for the midlands with a small amount of warehouse space. All cutting and, routing and processing takes place in Basildon where all the stock is kept also. This causes a problem logistically because some of their best customers are as far as Bradford, which can mean running a lorry from Essex to Bradford on a daily basis in order to keep the customer happy.

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