Tag: CPG

IR36

Consumer Goods Company Leverages Pricing Analytics Solution to Profile Potential Customer Segments

pricing analytics

LONDON: Quantzig, a global analytics services provider, has recently completed their pricing analytics solution for a consumer goods client. The companies in the consumer goods space have an extensive product portfolio, including food and non-food categories to meet consumers’ demands. Over the past decade, the industry has started developing innovative products and services to meet the rising customer demands across the globe. Furthermore, firms in the consumer goods industry have rapidly expanded into the potential consumer markets across the world and aggressively built global scales across the value chain to make themselves profitable.

“Pricing analytics solutions help businesses to set pre-determined prices for the products and services based on market conditions and target margins. The solution also assists companies in gaining a clear understanding of the internal and external factors affecting the profitability of the industry at a granular level.” says an industry expert from Quantzig.

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The pricing analytics solution helped the consumer goods client to utilize predictive modeling to manage prices and promotions. With the help of the solution, the client was also able to compare the costs of the products and services with that of the competitors and use analytics to get the pricing right.

Additional Benefits of the Pricing Analytics Solution

  • Increase focus on realigning their marketing mix to boost their overall profitability
  • Identify ways to robustly position products against the competition and analyze profitability across niche target segments
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Consumer Goods Manufacturer Improves the Accuracy of Inventory Orders with the help of Inventory Management Solution

consumer goods

LONDON: Quantzig, a global analytics services provider, has recently completed their latest inventory management solution for a consumer goods manufacturer. Companies in the consumer goods market have started launching new and innovative products to keep up with the growing needs of the customers. Furthermore, the consumer goods industry has undergone an enormous transformation over the past few years. Also, top players in the consumer goods manufacturing space are aiming at developing strategies to leverage their profits and market share in an interconnected and competitive environment.

“Leading firms are now exploiting technology-driven opportunities to understand the consumers better and connect with them better. Also, several manufacturers have been successful in shifting to e-commerce platforms through which consumers can undertake transactions and also customize the products and services offered. “says an industry expert from Quantzig.

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The inventory management solution helped the client to develop a more efficient inventory management system that keeps track of their resources. The solution also helped the client in monitoring and control, stock-flow analysis, and issue resolution. The client also developed a more organized warehouse by improving the accuracy of inventory orders.

Additional Benefits of the inventory management solution

  • Reduce the liabilities and loss created by overstocking
  • Implement a new inventory management system that preschedules releases based on the track records
  • Devise effective ways to keep track of the stocks and maintain accurate counts to ensure the availability of products
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Marketing Mix Modeling Helps a CPG Client to Optimize their Marketing Spend

marketing mix

LONDON: Quantzig, a global analytics services provider, has recently completed their latest marketing mix modeling solution for a CPG industry client. The consumers’ behavior and needs have been changing over the last couple of years and organizations are embracing modern technologies to meet these ever-growing demands. Furthermore, the shift from conventional shopping to advanced online retailing has fueled the growth of middle-class population, urbanization, and globalization. Companies in the CPG space are increasingly trying to adjust their operating models with that of the competitors in order to keep pace with the altering preferences of the customers.

“The marketing mix solution helps businesses identify the market effectiveness and streamline their marketing campaigns to enhance the business performance. Quantzig’s marketing mix solution helped the CPG client to identify the strengths and weaknesses and to improve the effectiveness of marketing campaigns on business performance. “says an industry expert from Quantzig.

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The marketing mix solution helped the client to leverage the use of multiple regression techniques to predict the outcome of sales. The solution provided also helped the client to determine the net effect of their marketing campaigns on company’s profits. Furthermore, with the help of the marketing mix solution, the client was able to enhance their return on investment.

Additional Benefits of the Marketing Mix Solution

  • Quantify the impact of sales on marketing activities
  • Develop an attribution model based on the past marketing spend and sales
  • Optimize the future spend and improve the overall business efficiency
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IR31

CPG Sector market analysis – How supply planning solutions helped a CPG firm to reduce stockouts

QZ PR Supply PlanningLONDON: Quantzig, a global analytics services provider, has recently completed their latest supply planning solution for a CPG client. The global CPG industry is the foundation for the contemporary consumer economy as it drives enormous amounts of money into businesses like advertising and retail. It is also a means for the national economy to increase the gross domestic profits (GDP). Players in the CPG industry are looking to create and enhance shopping customer experience owing to the recent digital advances.

“The supply planning solution helped the CPG client to take into consideration the seasonality, tendencies, and the cost of production to decrease stock-outs. Additionally, the engagement helped the CPG client to predict customer demand patterns and meet production requirements.” says an industry expert from Quantzig.

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The supply planning solutions helped companies to increase forecast accuracies and enhance version management capabilities. Additionally, firms were also able to develop a robust inventory replenishment plan to offer consistent and reliable customer service to drive improvements in the supply chain performance.

Additional Benefits of the Supply Planning Solution

  • Increase forecast accuracy and management capabilities
  • Offer consistent and reliable customer service
  • Help predict demand to decrease the cost of production and stockouts
  • To know more, request a free proposal

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IR18

CPG Industry Client leverages Supply Planning Solution to Improve Inventory Management

CPG

LONDON: Quantzig, a global analytics services provider, has recently completed their latest supply planning solution for a CPG industry client. The global consumer packed goods (CPG) industry consists of establishments involved in selling toiletries and cosmetics, appliances, and food and beverage. Lately, despite slowing GDP growth and weakening currency values, the CPG industry is experiencing a shift from offline to online channels to gain a stronger foothold in the market.

“Supply planning solutions help CPG companies to identify the type of raw materials, goods, and the quantity to be procured. Furthermore, these solutions help CPG firms in restructuring and augmenting supply chain management activities.” says an industry expert from Quantzig.

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The solution helped the CPG client to predict and estimate the demand for FMCG products accurately and match the requirements of consumers. The solution also helped the client to take into consideration the seasonality, tendencies, and the cost of production to decrease stock-outs.

Additional Benefits of Supply Planning Solution

  • Predict customer demand patterns and accordingly meet the production requirements.
  • Formulate reliable market forecasts and enhance the customer service levels.
  • To know more, request a free proposal

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IR20

How to Become a Winner in the CPG Industry Using Data and Analytics

Today, Consumer packaged goods (CPG) companies are exposed to a host of challenges which include – value-conscious consumers with fast-changing needs, political and economic uncertainty, and intensified cost pressure due to retailer consolidation, to name a few. Also, the surging competition puts further pressure on the companies in the industry. Several CPG players are winning big in the market by leveraging data and analytics to set themselves apart from the rest. Businesses can use data and analytics for setting prices, analyzing shopper attributes, and generating more granular shopper insights. With the right data and analytics tool in place, here are four ways in which CPG companies can tread on the path to success :Free demo

Identify areas of growth and align resources for them

Top consumer goods companies invest heavily in securing exhaustive data from retailers. Getting access to information on customer shopping patterns such as full-basket and shopper-panel data will help businesses to understand their customers better and expand into high growth areas. The consumer goods industry’s areas of growth include specific channels (omnichannel retailers, regional grocery chains, dollar stores, discounters, and club stores), demographic groups (millennials),  and consumer segments (value-oriented consumers). The company can use data and analytics to understand which area of expansion is best suited for them and align the available resources accordingly.

 Data and analytics in  revenue-growth management

Revenue-growth management is the new buzz word in the world of business. Top players in the CPG industry are increasingly investing in advanced data and analytics techniques and cutting-edge RGM technologies for activities ranging from setting everyday shelf prices to trade investments. Data and analytics should play an active role even in adjustments made to the SKU portfolios. Furthermore, to persuade retailers to adopt the proposed changes, CPG companies can cite not only the financial benefits for the retailer but also make use of qualitative consumer research to back the decision.

 Adopt omnichannel retail

It is believed that e-commerce will be the top driver of change for CPG companies in the next five years. Therefore, it is no surprise that popular CPG companies are partnering with top e-commerce giants such as Amazon. They are also placing bets on sites beyond Amazon. Top companies are planning to increase investment in multichannel grocery, mass, or drug retailers such as Walmart.com and Kroger.com which would yield them good returns in the long run. Consumer goods companies can also use their own e-commerce platforms to attract customers, strengthen their brand presence, collect data and develop insights, and test new products and promotions. 

Develop the right analytical models, tools, and processes

Succesful companies consider data and analytics as critical to business strategy. With the help of the analytical models, tools, and processes, consumer goods companies can easily generate meaningful insights that can assist in decision-making. The city-level and store level insights generated can also help CPG companies to ascertain what resources to allocate where thereby reducing costs and problems of over-stocking or under-stocking.


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Inventory Optimization for a Renowned Client in the CPG Industry Helps Maintain their Inventory Levels

Client: A leading CPG industry specializing in offer consumer products

Area of engagement: Inventory optimization 

Despite the slowing GDP growth and currency weaknesses, the CPG industry is witnessing a migration from offline to online channels to reinvent themselves in the market. With the recent digital advances, CPG companies are thinking beyond the conventional shopping to create and enhance the shopping experience for the customers. The consumer behavior and needs are changing rapidly and customers are embracing technologies to make their tasks such as shopping and cooking more convenient and easy. To remain competitive and meet the altering preferences of the customers, prominent companies in the CPG industry are looking to refine their existing operating models and devise winning go-to-market strategies to improve their brand innovations and increase their profit margins. Although the CPG industry is witnessing a promising growth through advances in the technology, several factors will likely affect the growth of the industry including:

  • Changing consumer demands: Today, consumers are more informed and are shifting toward healthier and sustainable options. It becomes essential for the CPG companies to be more consumer focused and address the changing demand of the consumers in a cost-effective and seamless manner. Also, organizations need to ensure that the time-to-market for the products should be curtailed.
  • Shrinking operational margins: With the relentless growth of the competition in the CPG industry, organizations are facing challenges to deliver high-quality products while curtailing the operational costs. Moreover, the rising regulatory pressure is forcing companies to mitigate operational risk and manage non-conformances.

In order to address these challenges and efficiently manage their supply chain process, organizations are in need of an inventory optimization solution. Inventory optimization helps organizations eliminate out-of-stock situations while improving efficiency and curtailing inventory costs.QZ- Request free proposal

The Business Challenge

A renowned client in the CPG industry with a considerable number of stores spread globally wanted to maintain their inventory levels to meet the rising demands of the customers. The client wanted to include demand forecasting capabilities to increase the efficiency of their inventory planning process. With the help of inventory optimization solution, the client wanted to seek ways to collaborate with vendors and customers and exploit the value of IT to optimize cost and quality of the products offered. In addition, the client also wanted to forecast the demand for the products and maximize service levels to meet the growing demands.

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Inventory Optimization Benefits

Strategies that we recommended based on our analysis to drive customer loyalty.

Beyond the traditional supply chain management, the inventory optimization solution offered by Quantzig helped the client in the CPG industry optimize their operations and ensure the right product is available at the right time. Moreover, the engagement sought ways for the client to improve the quality of the products and ensure that the product delivery is carried out at a minimal cost. The inventory optimization solution also offered better visibility into the supply chain from the manufacture of goods to the distribution of products.

Inventory Optimization Solution Predictive Insights:

Quantzig’s inventory optimization solution assisted the leading client in the CPG industry improve the product quality and optimize their supply chain network design. Moreover, the solution assisted the client gain better visibility into warehouse operations and reduced the time-to-market for the products offered.

The Future

The future of the CPG industry will be marked by innovations with the advent of connected consumers and digital channels of commerce and engagement. Moreover, an integrated supply chain and product innovations will drive the competency of the CPG industry over the years.


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demand and capacity planning

4 Mega Trends Reshaping the CPG Industry

All industries are gradually evolving, thanks to the trends and innovations in technology that are being adopted by companies to improve their customer experience. Today, product innovations, customer-centric business models, and digital strategies have formed the heart of businesses. The consumer packaged goods companies are not far behind from adapting to these emerging trends. The winds of change blowing across the consumer packaged goods industry have been both rewarding as well as challenging for companies.

But, how are consumer packaged goods companies setting sail to survive in this competitive wFree demoorld of innovations and what are the opportunities and challenges lying ahead of them, you ask? Here’s how:

Change in Business Model

Traditionally, when compared to the retail industry, which involves the sale of products to the end users, the consumer packaged goods industry caters to a wider set of stakeholders such sellers, marketers, and manufacturers of physical goods that are sold through retailers to the final customers. However, the consumer packaged goods companies are slowly shifting towards direct-to-consumer models by setting up their own online and offline platforms to reach out to their customers. For companies opting to experiment with direct to customer models, it becomes essential to have a detailed idea of specific habits and preferences of individual customers, unlike a traditional consumer packaged goods model, where the companies need to have only an overall idea of customer preferences.

All Eyes on e-Commerce

Getting a place on any customer’s shopping list is becoming a top priority for consumer packaging goods companies. Wonder why? Online sales are showing an upward trend on the growth graph, including the consumer packaging good industries. These days, most of the online stores have a facility where the customers can provide the items for weekly consumption on a list that automatically gets added to the customer’s weekly shopping basket. This kind of technology attracts more customers owing to the convenience it offers. Since the consumer packaged goods companies are new to this model of business, they are gradually taking inspiration from the retail industry to gather appropriate product and customer specific information to meet customer expectations.

Product Customization

Earlier, the CPG companies were highly concentrated on mass production. However, the changing demands of customers have forced them to venture into customized production for similar preference groups. Effective customization can only happen through manufacturer’s timely identification of opportunities. The faster the companies can predict the upcoming trends and adapt their production cycle and supply chain; the more are their chances of making their foot stronger in the market.

IoT Makes the Work Easier

The consumer packaged goods companies are using IoT to streamline manufacturing processes. But some companies have started employing this technology to enhance customer experience, either by incorporating advanced technologies into their products or by collaborating with other brands that deal in IoT products.

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