Ranpak to Launch Game-Changing Data Driven Solutions Delivering Unrivalled ROI for End-of-Line Packaging
Ranpak Holdings Corp. (NYSE: PACK) enhances its Cut’it!™ EVO automated packaging machine with three AI-powered vision tools, providing unrivaled ROI for end-of-line packaging applications. The solutions aim to minimize void fill, support EU Packaging Directive targets, and offer sustainable paper-based packaging. The integration of digital tools with Cut’it!™ EVO accelerates benefits, including labor savings, flow optimization, reduced shipping costs, and enhanced unboxing experiences. Ranpak's innovative solutions cater to increasing efficiency, sustainability, and profitability in EOL packaging automation.
The integration of AI-powered vision tools into Ranpak's Cut’it!™ EVO automated in-line packaging machine represents a significant advancement in end-of-line (EOL) packaging automation . This technology addresses a critical aspect of supply chain efficiency: optimizing packaging to reduce waste and shipping costs. The potential to reduce material usage and enhance the unboxing experience can lead to both cost savings and improved customer satisfaction, which are key competitive factors in e-commerce and industrial supply chains.
By utilizing historical data to simulate future scenarios with the Precube’it!™, companies can anticipate their needs more accurately, potentially reducing the inventory of packaging materials required on-site. This not only streamlines operations but also aligns with the increasing demand for sustainable business practices . The EU Packaging Directive's mandate for a maximum 40% void target illustrates the growing legislative pressure on companies to adopt eco-friendly solutions, making Ranpak's offering particularly timely.
Furthermore, the integration of Ranpak Connect for detailed performance reporting can lead to proactive maintenance and training, which can reduce downtime and improve overall productivity. The ability to condense ROI timeframes from the typical three to five years to one to three years, as claimed by Ranpak, could be a game-changer for businesses evaluating the cost-benefit of such automation investments.
The enhancement of Ranpak's packaging solutions with AI-driven tools is a noteworthy development from an environmental sustainability perspective. Leveraging fully recyclable paper materials aligns with global sustainability trends and consumer preferences for environmentally responsible packaging. The focus on minimizing void fill and optimizing the use of materials directly contributes to reducing the carbon footprint associated with packaging and shipping.
With the EU Packaging Directive as a backdrop, Ranpak's technology suite is positioned to help companies not only comply with these regulations but also to potentially exceed them. This proactive approach to sustainability can be a critical factor in brand differentiation and customer loyalty, as consumers increasingly favor companies with green credentials.
The environmental impact of these solutions is magnified by the potential to significantly reduce the amount of corrugated material required through the Precube’it!™ tool. This kind of innovation can set a new industry standard for how companies approach their packaging strategies, with an emphasis on resource efficiency and waste reduction.
The adoption of advanced technologies such as AI and machine learning in Ranpak's packaging solutions could signal a broader trend of digital transformation in the logistics and supply chain sectors. The integration of 2D and 3D computer vision technology for tasks like quality control and precision void filling represents a leap forward in the capabilities of packaging machinery.
These advancements could drive a shift in industry benchmarks for packaging efficiency and accuracy, raising expectations for what is achievable with automation. As companies seek to gain a competitive edge, the ability to quickly adapt to and integrate new technologies like Ranpak's will become increasingly critical. The strategic implementation of these tools at the end of the production line—where they can have a cascading effect on overall efficiency—highlights the importance of considering the full lifecycle of product distribution when planning technological upgrades.
DecisionTower™, with its AI-supported vision technology, exemplifies the potential for continuous improvement through data analysis and machine learning. Over time, the precision and efficiency gains from such tools could become a significant factor in maintaining a lean and responsive supply chain.
02/27/2024 - 08:30 AM
The interaction between Ranpak’s Cut’it!™ EVO automated in-line packaging machine and three new AI-powered vision tools creates a solution far greater than the sum of its parts.
CONCORD TOWNSHIP, Ohio --(BUSINESS WIRE)--
Ranpak Holdings Corp . (“Ranpak”) (NYSE: PACK), a global leader of environmentally sustainable, paper-based packaging solutions for e-commerce and industrial supply chains, today announced it has enhanced its breakthrough Cut’it!™ EVO automated in-line packaging machine with three game-changing digital tools that deliver unrivalled ROI to end-of-line (EOL) packaging applications.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240227019908/en/
(Photo: Business Wire)
Ranpak’s solutions are designed to ensure materials are packed using the smallest amount of volume while minimizing void fill, supporting customers in reaching the maximum 40% void target mandated by the EU Packaging Directive. With over 50 years of innovation in paper packaging, Ranpak Automation solutions are also uniquely sustainable, leveraging fully recyclable paper materials.
Unlocking Unrivalled ROI By Beginning with the End in Mind
The Cut’it!™ EVO automated in-line packaging machine is at the core of Ranpak’s integrated approach to EOL automation. The machine automatically shortens cartons to match their highest point of filling before gluing a lid securely in place. Cut’it!™ EVO delivers unrivaled ROI as a standalone solution by enabling labor savings, EOL flow optimization, enhanced unboxing experience, shipping cost reduction, reduced material usage and consolidated box footprints.
However, when used in combination with Ranpak’s new digital tools, the benefits of the solution increase multiplicatively, helping customers stay ahead of regulatory requirements while unlocking a clear competitive advantage. These three digital tools accelerate the ROI already delivered by Cut’it!™ EVO to an unrivalled level. They include:
Ranpak Precube’it!™ which is the first element of this breakthrough EOL technology suite. This solution uses historical site order data to simulate machine utilization and box fill rates for future scenarios, amongst its other capabilities. It also consolidates and optimizes the range of box sizes required to be maintained on site, reducing the amount of corrugated material required by choosing the right design and size boxes for each parcel. It can also be utilized to reduce the number of split shipments. Precube’it!™ supports actionable insights in an analysis that is much more precise than other tools that typically calculate using liquid volume.
DecisionTower™ applies a unique combination of 2D and 3D AI-supported computer vision technology for a variety of insightful tasks, including quality control, order insights, and precision void filling. In this case, the solution directs the void fill converter to dispense an optimal amount of paper for each specific box. This optimizes dimensioning and usage of packaging materials. AI and machine learning algorithms help the solution deliver increased precision over time across all its applications.
Ranpak Connect works in conjunction with Cut’it!™ EVO, providing a detailed overview of machine utilization and performance in daily reporting on parameters including uptime and downtime root causes. It includes an integrated camera in the machine to support performance analyses and identifies training and maintenance needs before escalation is required.
“We are pleased to be presenting these uniquely integrated digital EOL packaging solutions to the marketplace, in order to support increased efficiency within warehouses combined with a more sustainable EOL packaging experience,” said Bryan Boatner, Global Managing Director of Automation at Ranpak. “Our perspective is that as packing operations look to gain efficiencies, EOL packaging automation, rather than an afterthought, should actually be where companies begin their automation process. Our experience is that the cascading benefits of end-of line automation can condense time to ROI to within one to three years Instead of the three to five years piecemeal and back-end investments usually deliver. This is unique in the industry, and not only ensures regulatory compliance around the globe, but also helps packaging operations meet their profitability and sustainability goals in new and innovative ways.”
Ranpak will be bringing these updated automated end-of-line (EOL) packaging solutions and more to MODEX 2024, scheduled for 11-14 March at World Congress Center in Atlanta, Georgia . Ranpak will be located at booth A10921 at the show.
To schedule a personal briefing and/or packing experience during the show, please contact boatner.bryan@ranpak.com or visit https://www.ranpak.com/modex/?utm_campaign=modex24&utm_source=pressrelease&utm_medium=digital-print
For more information about Ranpak, please visit: www.ranpak.com .
About Ranpak
Founded in 1972, Ranpak's goal was to create the first environmentally responsible system to protect products during shipment. Ranpak’s mission is to deliver sustainable packaging solutions that help improve supply chain performance and costs, reduce environmental impact, and support a variety of growing business needs globally. The development and improvement of materials, systems and total solution concepts have earned Ranpak a reputation as an innovative leader in e-commerce and industrial supply chain solutions. Ranpak is headquartered in Concord Township, Ohio and has approximately 600 employees. Additional information about Ranpak can be found on its website: https://www.ranpak.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20240227019908/en/
Investor Inquiries:
Bill Drew
ir@ranpak.com
US Media Inquiries:
Cory.Ziskind@icrinc.com
Source: Ranpak Holdings Corp.
What enhancements did Ranpak make to its Cut’it!™ EVO automated packaging machine?
Ranpak enhanced its Cut’it!™ EVO machine with three AI-powered vision tools to deliver unrivaled ROI for end-of-line (EOL) packaging applications.
What is the ticker symbol for Ranpak Holdings Corp.?
The ticker symbol for Ranpak Holdings Corp. is PACK.
How does Ranpak's solution support EU Packaging Directive targets?
Ranpak's solutions aim to ensure materials are packed using the smallest volume possible while minimizing void fill, supporting customers in reaching the maximum 40% void target mandated by the EU Packaging Directive.
What are the benefits of using Ranpak's Cut’it!™ EVO machine in combination with the new digital tools?
When used with Ranpak's new digital tools, Cut’it!™ EVO offers benefits such as labor savings, EOL flow optimization, reduced shipping costs, enhanced unboxing experience, reduced material usage, and consolidated box footprints.
How does Ranpak's Precube’it!™ tool contribute to EOL packaging efficiency?
Precube’it!™ uses historical site order data to simulate machine utilization and box fill rates for future scenarios, optimizing box sizes and reducing corrugated material usage.
What tasks can DecisionTower™ perform in EOL packaging?
DecisionTower™ utilizes AI-supported computer vision technology for tasks like quality control, order insights, and precision void filling, optimizing dimensioning and usage of packaging materials.
How does Ranpak Connect complement Cut’it!™ EVO in EOL packaging?
Ranpak Connect provides a detailed overview of machine utilization and performance, supporting daily reporting on parameters like uptime and downtime root causes, with an integrated camera for performance analyses and maintenance needs identification.
