Mike Richmond

Packaging value is the “Holy Grail” for packaging leaders across the value chain. The packaging world is still trying to break the code and we are getting closer. We have identified a number of components and tests that we can use to help us understand if the new packaging on a product refresh or a new product is worth the money.

Over the last five years, there has been more thought and attention given to design and sustainability issues early on in the packaging process. This will become even more important in the future. So it is critical at the beginning of the development process to consider a package’s design, sustainability and end of life.

While the term “open innovation” may be new to some, it has been around for a decade (or maybe even a century). Simply put, open innovation is about sourcing new ideas and concepts from outside the organization to help develop new innovative, creative and money-making ideas for the company.