The Outsized Benefits of Analytics Reporting in the Innovation Phase of New Product Development

Posted by Selerant on Dec 18, 2019

Consumer packaged goods companies typically have 400-500 projects or products open at a single point in time. Without the right tools, tracking and visibility across an entire portfolio becomes a constant challenge. 

People have to collect data across multiple siloed departments, from off-line folders, documents, and dashboards, to answer their most pressing questions – Do we have the resources required to support the projects? Are we getting the ROI we need to meet fiscal goals for the year? Are we on track to meet our hurdle rates? Do we need to add more projects? Can we redirect the ones that aren’t on track? 

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Topics: Product Lifecycle Management, Food & Beverage, Product Portfolio Management, Cosmetics & Personal Care, Specialty Chemicals

Six Questions to Ask Before You Purchase a PLM Solution

Posted by Selerant on Nov 30, 2019

A PLM system, implemented well, has the potential to significantly impact key performance indicators. It can help companies reduce time to market, improve product delivery and success rates, mitigate risk, improve margins, and boost productivity. However, choosing the right PLM provider requires smart teamwork and careful consideration. 

We interviewed our Senior Solution Consultant Dr. Keith Smallwood, who has been on both the client side and the provider side of PLM solutions, to draw out best practices for choosing the PLM solution most likely to deliver the success buyers want to see. Below are six questions buyers can ask to compare solutions and vendors, and pinpoint an ideal fit.

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Topics: PLM, Food & Beverage, Cosmetics & Personal Care, Specialty Chemicals

How Millennials Are Driving Food & Beverage Producers to PLM

Posted by Selerant on Nov 25, 2019

When it comes to selling products to millennials, food quality management is an absolute imperative

As the largest segment of the global labor force, millennials are leading the charge in demanding comprehensive distribution of information. 

According to Selerant COO Sunil Thomas, “The level of information that consumers want has changed drastically. It’s not just ingredients on a label, they want to know that the product does not violate their principles or beliefs. If you say that your product is organic or sustainably sourced, can you prove it?”

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Topics: PLM, Food & Beverage

Disruptive Innovation for the F&B Industry

Posted by Selerant on Nov 21, 2019

Staying ahead of the consumer trends curve in the food and beverage industry requires intuitive innovations from research and development teams and the ability to swiftly pivot production.

A new product launch that aligns with trends, like smaller portion sizing, environmentally conscience sourcing, organic and plant-based foods that add authentic value to consumer’s lives can offset the value declines that occur as formulations run their course and come to the end of their lifecycle. This strategy also applies to disruptions that occur when consumers make more educated product choices.  

When it comes to food and beverage manufacturing, there are two basic types of innovation, and understanding the difference is key for the success of both the process and new product development. 

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Topics: PLM, Food & Beverage

Managing a Global Product Pricing Process with PLM: An Interview with Selerant COO Sunil Thomas

Posted by Selerant on Aug 12, 2019

Recently, we sat down with Sunil Thomas, Selerant COO, to discuss the major challenges food manufacturers face in managing product costing. In our previous post, he discussed how brands can use a global formulation strategy to achieve economies of scale and quickly and costly-effectively implement product changes in response to commodity prices and market demand.

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Topics: PLM, Food & Beverage, Product Formulation & Recipe Management, Product Data Management