Zimmer Biomet SWOT and PESTLE Analysis

Strength

1. World leader in musculoskeletal and oral healthcare: The parent companies Zimmer Dental, Inc. and BIOMET 3i, LLC combined their strengths together and emerged as the leader in musculoskeletal and oral healthcare. The company has its implant offerings which are accepted widely by both patients and clinicians. The company has implemented the new advancements that helped it in developing and designing the products that led to the widespread acceptance of the dental implants as regular treatment option. For example, BIOMET 3i T3® Implant is designed so as to deliver aesthetic results using tissue preservation. The key elements such as a contemporary hybrid surface, a stable and tight implant/abutment interface, and integrated platform switching

2. Quality and operational excellence: The company has solidified progress in its supply recovery by creating reduction in back orders and increasing levels of safety stock. Through its efforts, company has removed supply as a barrier for its financial commitments. In order to maintain its quality standards, company has executed a detailed remediation plan at the Warsaw North Campus. The company is focused on delivering its guiding principles i.e. patient safety, quality and integrity. The company has also shifted its focus from supply recovery efforts to supply efficiency programs and also from quality remediation to building best-in class quality systems.

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Weakness

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Opportunity

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Threat

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Political

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Economic

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Social

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Technological

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Legal

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Environmental

1. Adherence to water management guidelines and reduction in energy consumption: Global organizations need to exercise responsible resource stewardship and identified different ways so that energy consumption can be reduced, and water management guidelines are strictly followed. Zimmer Biomet company has also initiated recycling, reprocessing, and reusing in order to reduce and manage the waste generation. LEAN manufacturing / Six Sigma principles are implemented, and green team training is further utilized to improve efficiency. The company started an Environmental Management System (EMS) which is recognized as per international standards. There are third-party audits and internal audits that are performed on a periodic basis to validate the effectiveness of this system. These audit results also help in improving the company’s business opportunities. To reduce energy consumption in different operation sites, company installed highly efficient compressed air system, better controlled heating and air conditioning systems and energy efficient LED lights.

2. Complete green powered workplaces: Workplaces powered by renewable energy sources help to reduce the carbon footprint of organizations. Zimmer Biomet has wholly converted its Warsaw, Indiana based headquarters powered by renewable green energy. It complies with US Environmental protection agency (EPA). The company has partnered with EPA and NIPSCO (Northern Indiana Public Service Company) so that 100% power usage is shifted to renewable energy sources. Through this initiative of “Green Power Partnership” program, the companies can reduce the environmental impact of electricity usage. There are more than 1,400 Partner organizations that have volunteered for this program and pledged to use billions of kilowatt-hours of green power annually. These partners include world leaders like Fortune 500 companies. This also includes other small and medium sized businesses along with local, state, and federal governments.

3. Commitment to reduction of landfill waste: Zimmer Biomet committed for long term to become a zero-to-landfill company. Under this initiative, company took steps so that it can reduce its landfill waste. The company located and partnered with different by-product management companies so that it can at least recycle the waste that cannot be eliminated fully. According to 2018 sustainability report data, company has been able to recycle almost 60% of the waste generated. Company is making continuous efforts so that it can minimize the negative effect on environment by 20% by 2020. The company offered a corporate sponsorship to ACRES Land trust which helps in protecting around 6700 acres of forests, wetlands, and grasslands. Zimmer Biomet continued to offer its sponsorship since the year 2011.