By By Suzanne Kopcha, Vice President, Consumer Products and Retail Strategy, Siemens Digital Industries Software
Increased challenges in the consumer products industry are creating dramatic shifts in what companies need to do to stay competitive in the marketplace. The growing demands of globalization are adding complexity to all parts of the supply chain, including ensuring a product’s quality and timely delivery. Increased demands of consumers for personalization and oneday delivery are requiring companies to operate in new and innovative ways, and at warp speed. Consumer products companies must work on a global scale, while maintaining flexibility, speed, quality and innovation within their businesses. The most innovative of these companies are using the power of digitalization – i.e. the integration and information sharing among multiple digital technologies – to transform their businesses and better connect to consumers to drive innovation. Leveraging IT software technologies that have been boosting productivity for discreet manufacturers for years – such as product lifecycle management (PLM), advanced simulation and big-data analytics – these companies are beginning to reap the same benefits. Digitalization can unlock unlimited potential for consumer products companies by enabling them to deliver consumer preferred innovation, at a speed they never thought possible, with productivity and profit that deliver top and bottom line results.