New product development (NPD) in the FMCG sector often comes with high cost and carbon implications. Businesses must create a holistic process that considers these aspects from ideation through to waste minimisation.
In a difficult economic climate for both consumers and business, food and drink producers face a delicate balancing act to keep costs down while maintaining quality for customers.
Adopting operational excellence can help to achieve both short- and long-term goals across cost and carbon, creating competitive advantage and enabling more effective investment decisions.
Product and pricing decisions are key to survival. But how can a complex business make these decisions amidst so much uncertainty? The answer lies in data understanding.
Through scenario modeling, the true impact on carbon emissions and product cost can be identified. This can be a competitive advantage to make informed decisions and identify levers that reduce carbon and cost.
When it comes to Christmas grocery sales, this year’s winners are likely to be those who are most progressive when it comes to leveraging AI-enabled systems and other advanced technologies.
We looked at several leading supermarkets and the own brand ready meals they produce, to see where improvements could be made to both sales and profit margins through their product development process.