CONSUMER GOODS PRODUCT
Driven by stay-at-home orders and increased online shopping since the COVID-19 outbreak, many brands in the consumer packaged goods (CPG) industry experienced intense growth in 2020-2021.
Driven by stay-at-home orders and increased online shopping since the COVID-19 outbreak, many brands in the consumer packaged goods (CPG) industry experienced intense growth in 2020-2021. There was a significant rise in demand for items ranging from personal hygiene products and home cleaning supplies to groceries and immunity-building health drinks.
Conversely, during the same phase, most CPG companies also realised the vulnerability of their supply chain to global shocks. They needed to future-proof their business for more resilient manufacturing and distribution processes, better demand analysis, real-time collaboration with vendors and improved customer experiences.
In the post-Covid world, responses to consumer expectations need to be ubiquitous yet more personalised. CPG firms must follow a holistic and full-funnel approach to business with multiple distribution channels and closely integrated routes to market. They need to add more visibility and predictability to their supply chain. These organisations must also turn data analytics into a strategic advantage. And all of this calls for end-to-end digital transformation.
The value drivers for this transformation would be technology at speed, innovation at scale and a focus on consumer needs.
The SAP Industry Innovation Week was an engaging event where we invited our startup partners to present some of their insightful digital solutions for the CPG industry. Known for their creative problem solving, open communication and flat hierarchies, these participants included:
Enabling its customers to easily and cost-effectively ‘tag’ any product, TagBox has the vision to make supply chains more resilient, intelligent and reliable. Their technology incorporates IoT-based real-time sensing, machine learning-based insights and AI-driven actions.
NeuroTags serves 100+ companies and has digitised more than 25 million products. Its cloud-based plug-and-play solutions also help brands manage their marketing programs and customer loyalty schemes more efficiently.
Static decks and reports are now obsolete, The MathCompany enables customers to derive measurable value from analytics with robust data and AI-enabled technical architecture. From product design strategy, raw material sourcing, sales, marketing and customer persona description, The Math Company optimises each stage of the CPG value chain.
Datoin addresses businesses challenges with a comprehensive machine learning framework that empowers organisations to build intuitive machine learning models. The platform leverages data from multiple sources, AI and component-based engineering. and helps with customer engagement and retention.