Winner of Excellence in Operations and Supply Chain award for 2016
Auckland based GMP Pharmaceuticals has won big in the New Zealand International Business Awards, scooping up Excellence in Operations and Supply Chain.
GMP Pharmaceuticals and GMP Dairy are world leading manufacturers of premium health supplement and dairy products, turning ingredients such as sheep placenta and colostrum into high value nutritional products for international markets.
The company’s supply chain and planning manager, Ravinesh Kumaran, says they are committed to finding new ways to improve the business.
“We are always looking for innovation; not only in new concepts, new product developments but also innovation in our operation system. We are always seeking for better ways to improve,” he says.
This is proving to be a recipe for success, with GMP’s direct export revenue reaching over $90 million in the year to the end of March. The group's total revenue was just over $120 million, up 50 percent from the previous financial year.
GMP’s Auckland health supplement plant is one of the largest privately owned contract manufacturing facilities in New Zealand, and together with its factory in Australia, they export to customers in more than 30 countries.
Kumaran says it’s important to understand the different regulations and culture of the country you’re exporting to.
“Our winning formula is putting food safety as the foundation of our business and aim for perfection in every aspect of production. We aim to deliver only the best to the consumers.”
GMP’s pharmaceutical business is focused on contract manufacturing, while its dairy business sells products, mainly infant formula under its own brand Cowala. Despite operating in a highly regulated infant formula industry, GMP Dairy has grown its export revenue by double in the last 12 months.
The majority of GMP's products are exported to China, Hong Kong, Korea, Taiwan, Australia, Vietnam, Singapore, Malaysia, Switzerland, Germany and the United States.
GMP Pharmaceuticals is one of 700 companies that New Zealand Trade and Enterprise focuses on extensively to help grow internationally, bigger, better and faster.
This year marks the 50th anniversary of the awards, run by New Zealand Trade and Enterprise (NZTE) with strategic partner ANZ, which celebrate the success of New Zealand businesses on the world stage.
From the Judges:
GMP have continued to improve year on year. An innovative approach to their business model and their willingness to make significant investments in quality control and traceability is a credit to their long-term perspective.