Diamond Corrugated saves almost £700,000 through continuous improvement
Invest Northern Ireland has assisted North West based Diamond Corrugated to save almost £700,000 through a successful programme of continuous improvement.
Diamond Corrugated supplies innovative packaging solutions to many industry sectors throughout the UK and Ireland. Investment commitments of £3 million by the company during 2006 and 2007 have helped to place Diamond Corrugated at the cutting edge of the UK packaging industry.
As part of this recent continuous improvement project, Invest NI provided support for the company to employ a Business Improvement Agent (BIA) for a three year period. By focusing on the implementation of a wide range of improvements throughout the business, the individual’s aim was to make savings of over three times his salary annually. This target was exceeded.
Enhanced procedures were implemented in key areas including manufacturing, purchasing, maintenance, finance and stock management. Staff training initiatives were also developed to increase skill levels.
Paul Diamond, Managing Director of Diamond Corrugated, said: “Invest NI’s support was very beneficial in the appointment of the BIA. The savings achieved in conjunction with our £3 million investment programme have significantly improved our company’s performance.
“New financial management measures have led to even greater administrative efficiency, enabling us to reallocate resources to other critical areas of our business. The business improvement model has had a positive effect on staff morale and people are embracing new ideas and are enthusiastic about the improvements made including efficiency and cash flow.”
Victor Jordan, Invest NI’s Director of Business Improvement Services, said: “By reviewing and enhancing its performance in particular areas, Diamond Corrugated can reap long term benefits. It is important that all local companies strive to develop an ethos of continuous improvement in order to increase competitiveness and realise their full potential.”