Veeva Consumer Products’ Post

When it comes to supply chain, is sourcing the next AI frontier? AI is already transforming how products are priced, marketed, and delivered – that’s a known quantity. But it also unlocks an exciting new set of opportunities for sourcing in terms of spend, speed, and sustainability. 📽️ Don’t take our word for it. In the third episode of The AI Advantage, senior leaders from Nestlé, New Balance, Sanofi Consumer Healthcare, and Walmart break down why sourcing is ready for its AI revolution, and reveal how the tech is already changing supply chain’s first mile. 🎬 Check out the full episode for insights from: 🔹 Andrea Albright, Executive Vice President, Sourcing, Walmart, and Operating Partner, Massmart 🔹 Rafik Amrane, Global Head of Manufacturing and Supply, Sanofi Consumer Healthcare 🔹 Stephanie Hart, Executive Vice President, Head of Operations, Nestlé 🔹 Dave Wheeler, Chief Operations Officer, New Balance 🔹 Lauren Acoba, Principal Research, Zero100 #SupplyChain #ArtificialIntelligence #DigitalTransformation

Speed to market is critical to a brand's success. 🎬 source: E27 Per the article ~ “The CPG sector, when they want to introduce or even renovate new products to the market … there is a 90 percent failure rate,” Perera says. The reason behind this high failure rate is the research process itself. Companies will perform a go-to-market survey of 1,000-2,000 customers about what they want in a product, then perform data crunching to develop product ideas. Even if the process results were accurate, a product innovation likely takes at least 12 months to complete. By the time the product is out, there is a possibility that the trend has already changed. ~ Trends in foodservice come and go quickly. Look what happened to plant-based meats. Look what happened to cauliflower-based products.

The food and beverage industry is in a tough spot. Emerging brands and mid-market players are being asked to do more, with less. This includes: - Understanding increasingly complex regulatory requirements - Operating on razor-thin margins - Supporting their business with limited resources You may be thinking "this sounds like a recipe for disaster". But wait. What if there was a solution that could help? Enter AI. By leveraging intelligent automation, companies can streamline various aspects of their operations, including: - Compliance management - Inventory optimization - Supply chain management Not only does this help ease the burden on companies, but it can also lead to better long-term outcomes, such as improved profitability and brand growth. In other words, it's time to embrace the power of AI in the food and beverage industry. It could be just the recipe you need to take your business to the next level. https://bit.ly/40q99WB

Great partnership showcasing the power of #generativeAI. In order to unlock the full potential, you will have to address this revolution as a holistic business #transformation including redefinitions of roles and responsibilities, adjustments to operating models enabled by a human-centric change management approach and methodology https://lnkd.in/djeKF67C #businesstransformation #BCGonTransformation

AI will significantly impact the CPG (Consumer Packaged Goods) industry. Here are some immediate ways in which AI will have an impact. 1. Predicting Consumer Demand: AI can analyze consumer preferences to predict demand for various food trends, such as microbiome-friendly foods, alternative proteins, low trans fats, and personalized nutrition. 2. Food Formulation AI can leverage big data for "What-if Analysis," enabling the formulation of products with new and alternative ingredients while maintaining flavor, texture, nutritional claims, and cost efficiency. 3. Optimizing the Food Supply Chain: AI-powered data analytics can enhance the efficiency of manufacturing, co-packing, and delivering food to customers' doorsteps, ensuring cost-effective on-demand access. H/T Thomas Hayes #foodismedicine #CPG Agilitas #food #formulation #AI

Interesting read..!!

The food and beverage industry is in a tough spot. Emerging brands and mid-market players are being asked to do more, with less. This includes: - Understanding increasingly complex regulatory requirements - Operating on razor-thin margins - Supporting their business with limited resources You may be thinking "this sounds like a recipe for disaster". But wait. What if there was a solution that could help? Enter AI. By leveraging intelligent automation, companies can streamline various aspects of their operations, including: - Compliance management - Inventory optimization - Supply chain management Not only does this help ease the burden on companies, but it can also lead to better long-term outcomes, such as improved profitability and brand growth. In other words, it's time to embrace the power of AI in the food and beverage industry. It could be just the recipe you need to take your business to the next level. https://bit.ly/40q99pz

The food and beverage industry is in a tough spot. Emerging brands and mid-market players are being asked to do more, with less. This includes: - Understanding increasingly complex regulatory requirements - Operating on razor-thin margins - Supporting their business with limited resources You may be thinking "this sounds like a recipe for disaster". But wait. What if there was a solution that could help? Enter AI. By leveraging intelligent automation, companies can streamline various aspects of their operations, including: - Compliance management - Inventory optimization - Supply chain management Not only does this help ease the burden on companies, but it can also lead to better long-term outcomes, such as improved profitability and brand growth. In other words, it's time to embrace the power of AI in the food and beverage industry. It could be just the recipe you need to take your business to the next level. https://bit.ly/473LWvF

AI is revolutionising the food and beverage industry. AI provides powerful tools that businesses of all sizes can leverage. In fact, studies show that AI adoption in the F&B sector can lead to a 20% increase in operational efficiency and a 30% reduction in waste, proving its value for both small startups and big enterprises alike. Come and attend the "Food Technologies of Tomorrow" session at MIFB's Strategic Conference, where Dr. Elif Güngör Reis , Food Technology Expert, FoodHack Istanbul, will delve into the cutting-edge AI technologies and innovations transforming the F&B industry. From AI-powered culinary breakthroughs to sustainable sourcing, Dr. Elif will highlight the opportunities and challenges that lie ahead. Register now to attend this insightful session: https://lnkd.in/gg5-yZPZ -- GROUP DISCOUNTS AVAILABLE - 20% off with 3 pax or more! HRD Corp claimable for Malaysian registered companies. #MIFB #MIFB2024 #FoodSecurity #FoodInnovation #FoodSustainability

I am looking forward to attending the #FoodTechAsia event over the next two days! Excited to engage with process experts in the food industry to explore shop floor challenges. I am particularly keen on discussing strategies for companies to kickstart their digitalization journey. Addressing concerns such as batch failure, reducing OOS/OOT, and transitioning from static SOPs to dynamically created best batch parameters & more will be key topics. Interested in exploring how digitalization can lead to #ZeroWasteManufacturing in the food industry? Feel free to send me a DM for a one-on-one discussion. #FoodTech #Manufacturing #AI #Digitalization #FoodIndustry #Networking