Highlights of the Case Study:
|Client||A leading CPG manufacturer based out of India was struggling to improve its manufacturing cycle planning.|
|Business Challenge||The client intended to optimize each stage of the CPG product life cycle for better visibility into sales patterns and customer satisfaction.|
|Impact||Quantzig’s data analytics solutions helped the client to eliminate inefficiencies, pre-empt bottlenecks, improve customer satisfaction, and drive innovation and growth.|
Game-Changing Solutions for CPG Manufacturing
Manufacturers of consumer-packaged goods (CPG) must leverage big data and analytics to enhance production planning and process optimization. Data analytics can help CPG manufacturing companies cater to the needs of their various stakeholders and drive further investment in data and analytics services.
Successful product life cycle management is essential for all firms, but it is crucial for those that deal with CPG products, including apparel, cosmetics, electronics, and seasonal goods. Businesses use market research to cut costs or concentrate on growing the market share through innovation. Effective data-backed product life cycle management helps provide complete visibility to create suitable strategies designed to protect profit margins.
With the help of Quantzig’s Internet of Things (IoT) enabled supply chain analytics, companies can optimize manufacturing, implement smart supply chains, and devise efficient methods for the launch of new products.
The Challenges of the CPG Giant
Our client, a leading CPG manufacturer based out of India, wanted support with improving its manufacturing life-cycle planning. Our client was facing difficulty handling numerous stock-keeping units (SKUs), tracking real-time signals, and enabling the flexibility to change prices many times a day.
The client also wanted to examine the different life cycle stages, including development, introduction, growth, maturity, and decline. The client intended to optimize each step of the CPG product life cycle for better visibility into sales patterns and customer satisfaction. The client required our supply chain analytics to eliminate inefficiencies, pre-empt bottlenecks, improve customer satisfaction, and drive innovation and growth.
Advanced-Data Analytics and SCM Solutions for the CPG Industry
Quantzig offered our client a data-driven supply chain analytics framework focusing on the target customers at every stage of the supply chain. Quantzig’s AI-driven solution led to more precise forecasts by integrating several parameters to minimize stock-outs and expiration of goods. Moreover, the supply chain was IoT-enabled so the client could receive real-time data on the planning process, procurement, processing, distribution, and warehousing operations.
Our system analyzed the following characteristics:
- Looked for clusters and patterns in forecast demand in extremely dynamic and price-sensitive markets.
- Determined the timing and price range of markdowns after assessing the influence of promotions.
- Offered product portfolio suggestions based on actual market information.
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Impact Analysis of Quantzig’s CPG Data Analytics and SCM Solutions
Quantzig’s supply chain analytics, backed with IoT technology, helped the client deliver successful new product lines to cater to short-lived consumer trends. Additionally, Quantzig’s analytics platform enabled the client to streamline the manufacturing process, reduce the cost of product development, and maximize customer satisfaction. The client is increasingly using analytics to increase the success rate for new products and minimize rework ideation and development efforts, thereby lowering product development and launch costs. Some of the areas in which the Quantzig solutions could help are as follows:
- Track the condition of raw materials at all transit stages
- Enable post-launch monitoring
- Implement product life-cycle management
- Analyze the impact of new products on the competition
- Access real-time information on inventory to meet production targets
Key Outcomes CPG Data Analytics
Quantzig’s interventions enabled our manufacturing client to leverage technology to implement better production processes, reduce operating costs, and increase profit margins. Increased visibility over the supply chain helped the client to check issues arising from inventory shortages or surplus stock at various points in the supply chain. A streamlined and healthy manufacturing cycle enabled our client to prevent the loss of valuable customers and ensured its longevity in the industry.
Broad Perspective on the role of CPG Data Analytics and SCM Solutions
Over the previous three years, CPG companies have reported an average 8 percent rise in technology budgets, showing a rising inclination toward investing in digital technology. However, many of these businesses lack a comprehensive data management plan, which is crucial for sustained growth. Therefore, it is essential to leverage data to derive tangible insights that can ensure future growth.
Quantzig offers a data analytics solution that provides a 360-degree view of the manufacturing process, from procurement to retailers to market trends and customer preferences. We provide solutions that can help obtain complete visibility of key products, and reduce time to market, lower production costs and optimize capacity utilization.
- Complete visibility of key product details
- Reduce the time to market
- Lower the cost of new product development
- Optimize capacity utilization
- Streamline the manufacturing process
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