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Supply chain innovation, data mining at touch points to improve system performance |
A. MITAL, Marketing, Tavant Technologies, Inc., 3114 Scott Blvd., Santa Clara, CA 95054 Launching new products successfully involves tight collaboration amongst all members of an extended value chain. Getting these products from the food manufacturers to the consumers involves a comprehensive value chain, which includes the manufacturers, ingredient suppliers, distributors, restaurant operators, restaurant chains and grocery chains. The flow of products from one end of the value chain to the other is also accompanied by the extensive flow of information in all directions at all the various touch points. Information includes marketing information, customer feedback, point-of-sale data, inventory levels, order data, quality data. A collaborative value chain handles the full spectrum of functions – Development, Marketing, Selling and Servicing, much more effectively. Using the Internet as “business-to-business” integration medium, business processes may now extend beyond the boundaries of the enterprise through “business process integration”. Buried across these “islands of automation” at every step of the value chain lies a very valuable information asset known as “Business Intelligence”. Tapping into this wealth of data and utilizing it effectively can make all the difference between success and failure of a product or concept. Instant feedback can enable marketing to fine-tune the marketing plan so as to make product launch much more successful. It can also help solving problems such as the perennial challenge of shelf space planning between manufacturers and retailers. Successfully integrating value chains can not only lead to streamlined product launch and delivery but also include ongoing operational benefits such as: • Lower operational costs • Increase revenues from more effective marketing • Better inventory planning – no overstocking or stock-outs
Session 50, Getting breakthrough results from product innovation: A practical approach
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