Constant change and economic uncertainty present challenges for many businesses—and the consumer products industry is no exception.
However, opportunities abound for midsized consumer products companies to drive profitable growth.
This blog highlights the top challenges consumer products companies face and explains how digital transformation and technology solve them.
Consumer Products Industry Challenges
Record inflation has caused soaring raw materials, shipping, and labor costs. The global supply chain is unstable, and economic and geopolitical issues have created volatile markets.
Consumer behavior has changed. Customers want personalized digital experiences, full transparency into products’ raw materials and packaging, and information about your sustainability efforts.
And with countless online marketplaces and social media sites to shop from, competition among consumer products companies is fierce.
Digital Transformation for Consumer Products Companies
SAP, a technology pioneer, recently asked the International Data Corporation (IDC) to investigate how digital transformation affects midsized consumer products companies.
The IDC’s findings show digital transformation plays a critical role in attracting new customers, improving supply chain resiliency, and driving profitable growth.
And digital transformation isn’t a pipe dream—it’s simply using technology to make your business run better.
Cloud-Based ERP Solutions
Today’s business climate shouldn’t prompt a “wait and see” approach to implementing new technology.
Forward-thinking consumer products company leaders recognize it’s more critical than ever to look closely at technology that:
- Delivers real-time information for an always-on view of financial and operational performance
- Provides predictive analytics for better, faster decisions
- Uncovers issues that cost too much time and money
- Reveals which departments, projects, and products are the most and least profitable
- Harnesses the power of artificial intelligence, machine learning, and robotic process automation so employees can do more with less
- Is scalable, flexible, and grows with the business
You can find all of this in the cloud.
Cloud-based enterprise resource planning (ERP) solutions are transforming consumer products companies by optimizing processes, increasing agility, and improving product and service quality.
SAP S/4HANA Cloud Is Game-Changing ERP
There are many cloud-based ERP solutions, but SAP S/4HANA Cloud, public edition (SAP S/4HANA Cloud) is a game-changer.
This modern, intelligent solution is the first enterprise-grade, end-to-end ERP system SAP built that’s deployed as a 100% software as a service (SaaS) solution.
SAP S/4HANA Cloud is built on an “adopt, not create” methodology, which means SAP developed industry best practices that eliminate the need for blueprinting and shave months off implementation time.
On day one, consumer products companies run on the tried, tested, and proven industry standards for large, efficient consumer products companies that have demonstrated their expertise and market niche.
With SAP S/4HANA Cloud, consumer products companies:
- Quickly transform massive amounts of data into insights to reach more customers in innovative ways
- Offer seamless, personalized shopping experiences with omnichannel fulfillment solutions
- Demonstrate sustainable practices with tools like QR codes to stand out from the competition
- Transform supply chain processes into demand-driven, responsive networks
- Minimize costs against fluctuations in inventory, warehouse management, transportation logistics, and order promising
- Get real-time visibility into inventory, accurately monitor stock levels, reduce carrying costs, and avoid stockouts and overstocks
Whether your consumer products company is a startup, an established enterprise, or a complex operation with subsidiaries, SAP S/4HANA Cloud drives growth and success.
Learn More With Vision33's SAP S/4HANA Cloud Info Kit
For over 30 years, Vision33 has helped companies integrate and automate their processes and applications and taken on digital transformation initiatives before, during, and after technology implementation.
We’re a multi-award-winning SAP partner, and our experts have created a free SAP S/4HANA Cloud info kit. Access it below to explore the next-generation cloud-based, intelligent ERP solution that will quickly drive your business forward and deliver a fast ROI.
