Modern product development processes differ from firm to firm, but each follows the same basic outline and shares similar characteristics. Above all, what distinguishes the old methods from modern product development processes is the introduction of a single source of truth via digital transformation.
Topics: Product Lifecycle Management, Product Portfolio Management, Supplier Relationship Management, Product Formulation & Recipe Management, Blogs
Breadmaker sales quadruple. Ketchup flies off the shelves as more and more children eat their lunches at home. Hand sanitizer disappears.
Topics: Product Lifecycle Management, Product Portfolio Management, Product Formulation & Recipe Management, Blogs
In the past decade the race to innovate changed entirely. As soon as the first smartphone hit the market, consumers flocked to the brands that could deliver the most powerful digital experience, even if it meant severing a lifelong customer relationship. The digital revolution motivated even 200-year-old financial institutions to transform their way of working. Companies had to learn how to out-innovate the competition – quickly – to survive. Those who held out too long went the way of Blockbuster Video.
This provoked business leaders to ask one confounding question – Why do some brands consistently produce groundbreaking ideas faster than others?
Topics: Product Lifecycle Management, Food & Beverage, Product Portfolio Management, Product Formulation & Recipe Management, Blogs
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.
Topics: Product Lifecycle Management, Food & Beverage, Product Formulation & Recipe Management, Product Data Management, Blogs
More than ever before, modern cosmetics consumers are savvy about what ingredients they want to see in the cosmetics and beauty brands they use, down to the ingredient level.
The demand for green products that have minimal impact on the environment (both through the sourcing and manufacturing processes) as well as a minimal negative impact on health and wellness is drastically changing the type of ingredients consumers choose and expect to see on cosmetics labels.
Topics: Product Lifecycle Management, Product Portfolio Management, Product Formulation & Recipe Management, Cosmetics & Personal Care, Blogs