Data Helps CPG Leaders Navigate Economic Hurdles
Forecasting has always held a pivotal role in decision-making for CPG brands, particularly surrounding logistics and operational continuance.??
It is no secret that CPG brands struggle to adopt newer methods with 39% of CPG companies citing company culture as a top analytic challenge.??
Traditional approaches tend to be siloed which then makes decision-making a longer and less effective process overall. It is much harder to miss inefficiencies and missed cost-saving opportunities when data is being leveraged for prediction capabilities.?
Digital transformation empowers teams to be more agile regardless of the shifting economic landscape. Garrett Popcorn Shops? , for example, has invested in an AI-powered supply chain approach to “help navigate perishability amid network expansion and the complexity of multiple channels.”?
The key benefit for CPG leaders is that actionable insights can be referred to in real-time. Embedding data gives CPG brands the confidence to make better decisions at a faster pace. McKinsey & Company researched growth management cross-functionality driven by data and found annualized gross margins of 4 to 7%.??
How can data be integrated into the supply chain and operations??
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AI in particular offers advanced data and insights into the supply chain that saves time, reduces waste, and simultaneously increases efficiency. The data feeds decision-making that ultimately reduces operational costs and shipping times whilst also enabling safer warehouse operations and improving storage efficiency.??
亨氏 has adopted UNFI insights to bolster marketing and merchandising efforts. This will allow the global leader to track sales and inventory levels which will give Kraft Heinz greater control over their supply chain.?
In other data-driven news, Shiseido is working with Amperity to leverage data from online and offline touchpoints for unified customer profiles. Just another way data is supporting navigation through the current economy.?
Onur Serbetci , Data Scientist at Dragonfly AI , agrees:?
"In the ever-evolving landscape of CPG brands, data emerges as the guiding star, illuminating the path through economic challenges. By transcending traditional silos and integrating predictive analytics, AI-driven insights, and real-time monitoring, data empowers leaders to navigate supply chains with agility, drive operational excellence, and seize hidden opportunities.”?