Abstract
In recent decades, Vietnamese labeling and packaging has been widely recognized as being one of the fastest developing industries in Vietnam, supported by the tremendous demand of domestic production and the exportation of its packaged goods. The emerging packaging technology trends and the participation of foreign direct investment (FDI) companies have led to fierce competition between all packaging enterprises in Vietnam. This paper aims to calculate the productivity performance of 10 packaging companies in Vietnam from the past to the future by combining the additive Holt-Winters (LTS(A,A,A)) model to predict key variables in the financial statement for the next 4 years (2020–2023) and an epsilon-based measure of efficiency (EBM) model of data envelopment analysis (DEA) to define the developing trend, efficiency, and ranking of packaging operations. The empirical results will assist packaging enterprises to identify their positions, suggest feasible solutions to overcome shortcomings and catch up with the global trends, and propose superior partnerships for manufacturers, which have packaging service demands and support investment decisions for investors. Overall, all the enterprises in the packaging industry have high productivity. In particular, SIVICO JSC is identified as the most efficient packaging company in Vietnam, as it continuously maintains the first ranking over the observation time, followed by Agriculture Printing & Packing JSC and Bien Hoa Packaging Company. In the past, Tan Dai Hung Plastic JSC was identified as the most unproductive unit, while in the future term, the inefficient decision-making units (DMUs) are Tan Tien Plastic Packaging JSC, Sai Gon Packaging JSC, Dong A JSC, and PetroVietnam Packaging JSC. The suggestion for incompetent enterprises is changing the value of inputs proportionally to optimize for better performance.
Highlights
Packaging is an auxiliary industry for many manufacturing industries, it plays a key role, contributing significantly to the development of the economy
To initiate a sustainable strategy in an operation, different administration systems, such as commodity expense, capital budgeting, information, and performance assessment, must be composed and defined [13]. According to all these facts mentioned above, the purpose of this study is to identify and evaluate the performance and ranking of 10 packaging companies in Vietnam in each period from 2012 to 2023, by integrating the additive Holt-Winters (LTS(A,A,A)) forecasting model in Tableau and an epsilon-based measure of efficiency (EBM) in data envelopment analysis (DEA)
This research applied the additive Holt-Winters model to predict the future values of performance indicators in financial statements and the EBM model to estimate the performance of each decision-making units (DMUs)
Summary
Packaging is an auxiliary industry for many manufacturing industries, it plays a key role, contributing significantly to the development of the economy. It is widely considered to be one of the most important parts of logistic systems. The purpose of the earliest and most basic packaging was containing products, serving the stages of transportation, preservation, and display. The second benefit of packaging is protecting products from damage, deformation, theft, or reduction of quality due to external and environmental impacts such as air, humidity, water, and light. Providing information on products on stamps, labels, or the cover is a legal requirement for packaging to help consumers better understand the product before making a purchasing decision.
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