From tracking via numbers and barcodes to implementing RFID and GPS sensors, micro-level data analysis gained from predictive tools can enable CPG companies to formulate a product cycle blueprint that helps provide superlative quality-control, optimize deliveries and reduce operational costs to enhance profits. The Consumer Packaged Goods Industry probably reflects the stiffest competition among its companies. With a continuously oversaturated market and lesser profit per unit, factors such as shelf-placement, brand recognition and mass advertising act as major influencers. In such a scenario, predicting the interplay of the market forces of demand and supply accurately has become increasingly important to strategize the right plan of action. Employing tech-based solutions and data analysis in the entire marketing and supply value chain processes helps to identify predictive patterns in the constantly varying quotient of consumer demand. Quite a few leading consumer-goods companies have started to explore the use of digital solutions in manufacturing, supply chain and delivery processes as a performance booster as well. However, most of these firms find themselves stuck at the million-dollar question, where to start from? What processes can be, and more importantly, need to be improved by deploying today’s digital technologies?
