3 High Technology Trends For Consumer Product

PostedOn: 2016-05-24 11:05:08

Quite often, I get asked about new trade trends. There ar a ton of exhilarating things happening within the commodity trade however what are the recent trends or capabilities that ought to not be ignored? what's going to set Associate in Nursing association up for achievement within the future? 

Let’s take a dive into my top recommendations. 

Mobile & Cloud-Based Solutions 

One of the interesting things we tend to see concerning vendee product distributors is that all of them add price to the availability chain in their own distinctive method. Even within a given sector, two distributors could have a totally different approach for adding price to their customers: one could decide that supply potency at rock bottom value is all that matters, and another may focus on location knowledge trends, managing the customer’s inventory assortment and merchandising at the store level.

Each company has to decide what’s vital so as to drive revenue, control prices and then implement specific solutions to focus on those areas.

That being said, mobility and cloud-based solutions ought to not be neglected regardless of the approach and priorities. CPG distributors continue to lag behind in ecommerce capabilities. If they don’t have robust B2B ecommerce and quality solutions in place by 2017 or 2018, they run the risk of becoming obsolete to an outsized and growing base of current and new customers.

Multi-channel management, or the ability to integrate and simplify the client expertise across multiple channels and transactions, is key. With the consumer product customers that we tend to work with at Tribridge, we modify the expertise across: E-commerce, customer portals, distribution center pickup, call centers and brick and mortar stores. 

Consolidation of ERP Systems

If I had to choose one project that might have the most important monetary impact on a commodity business, it would be the consolidation of ERP systems. We have been operating with larger commodity makers wherever growth has occurred in multiple ways that, but mostly through acquisition, which results in wide-ranging and disparate systems.

Consolidating systems results in key benefits, which ar driving positive monetary impacts:

  • Streamlined and standardized processes create a smaller organization learning curve wherever resources and best practices will be simply shared, and headcounts can be reduced and a lot of strategically deployed.
  • Centralized purchasing and consolidated shopping for power creates vital savings opportunities for MRO and direct materials.
  • Reduction in annual software maintenance prices.
  • Consolidated and standardized master data management. Large edges connected to SKU rationalization/reduction and uniform ways that of managing knowledge across the enterprise.
  • Single view of the client across the enterprise for contact management, pipeline management, quotes, orders, case management, etc.
  • Improved and unified business intelligence/ analytics reported in real time, or near real time. 

Attributes of a Valued Partner

As technical needs become a lot of intense, retailers should currently look for key attributes in a very commodity partner:

  • Trade Promotions Management. Seamless so the method of creating and managing client promotions becomes terribly targeted and strategic, with low administrative overhead burden and nice reporting/analytics.
  • Data Analytics. Ability to analyze the retailer’s point-of-sale knowledge and provide product or mixtures of product and can satisfy client demands and trends.
  • Collaborative Forecasting. Consumer product manufacturer or distributor operating closely with its retail customers to organize a cooperative forecast with the power to react quickly to fast-paced trends.