Picasso Paints is a Family Owned and Operated Paint Manufacturer Specialising in Water - Accounting Assignment Help

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Picasso Paints Pty Ltd

Picasso Paints is a family owned and operated paint manufacturer specialising in water and solvent- based paints.  The business originally began operating in 1976.  The founder, Bill Board, made the decision to move operations from Perth to Wodonga in 1985.  At the time this was considered to be a high risk move as Wodonga was a struggling town with high unemployment and crime rate.  Bill believed that Wodonga would experience substantial growth in the years to come as it services such a large area, further strengthened by being situated on the main freeway between Sydney and Melbourne.  This move paid off as Picasso Paints has established an experienced and loyal workforce and is currently a major employer in Wodonga.  

Business Strategy

Picasso Paints aims to be a leading architectural and decorative paint manufacture in Australia and New Zealand, achieving this by:

• Being the leading manufacturer of solvent-based paint;
• Manufacturing the highest quality paint by using only the finest raw materials;
• Being the main supplier to building and construction industry for solvent based paint;
• Being the preferred supplier to the National Trust of NSW and Victoria by suppling quality heritage paint colours; and
• Maintaining a work environment that is respectful and responsible towards employees.

Operations, Performance and Accolades

Picasso Paints supplies through trade outlets and specialty paint distributers.  It also has 3 shop fronts in Wodonga, Melbourne and Sydney. The majority of building and construction customers are moving towards a supply contract tendering process and as a result, Picasso Paints is experiencing a decline in revenue compounded by an increasingly competitive market environment.

Picasso Paint's solvent-based paint range competes in a niche market with limited product lines and as such has a higher profit margin than other competitor’s lines.  Picasso Paints was one of the first companies to co-operate with The National Trust of NSW by replicating colours to the original Victorian and Federation style buildings and has since become the official supplier of heritage paint to the National Trust of Australia.  

Picasso Paints in 2009 gained accreditation to International Standard for Quality Systems ISO 9002.  Additionally, some of the company’s paints have to be assessed against the highest standards of quality in the industry by Australian Paint Approval Scheme (APAS).  This was achieved because of Picasso Paints' commitment to implementing a TQM system integrating four areas being; shared ideals, clear strategies, distinguishing skills and competitive processes.  Picasso Paints continues to invest in modern and technologically advanced production facilities with a continued focus on improving production efficiencies.  This has become an important part of the company’s long-term strategic plan which is being rewarded by being able to respond quickly to sales demands and rapidly increase production output.

Picasso Paints offers contract manufacturing services to other solvent-based and water-based paint producers.  By doing this, Picasso Paints can achieve economies of scale and reduce production costs.  Picasso Paints has made a long-term commitment to prioritise customer demands.  The company provides out of business hours customer service to stockists and painters.  The service provided not only assists customers and retailers with product knowledge but offers technical and product usage guidance.  The rewards for offering such a service has resulted in Picasso Paints being able to adapt quickly to changing customer demands and create a culture of new product development.

In 2015, Picasso Paints participated in State Business Awards.  The awards are based on employee satisfaction, employees are surveyed across a range of criteria including work-life balance, organisation engagement and recognition for services.  Picasso Paints placed 13^th overall out of 350 organisations which ranged from small to large.  Picasso was also recognised in 2015 at the Paint Industry Awards where it won ‘Manufacturer of the year’.  Judges made comment on Picasso Paint's passion, integrity and commitment to the paint industry.

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