Social media and mobile technology have brought us the era of the digitally empowered consumer. To remain competitive, Consumer Product enterprises must transform the way they interact with consumers and operate their business.
A recent Accenture report puts it like this: “The modern customer is very aware, very connected and uses the latest digital technologies. Companies must consider transforming their supply chains to cater to such customers and be ready to serve the growing list of such customers.”*
Consumer product enterprises who invest in and leverage new and transformative digital technologies to deploy a more open and collaborative approach with consumers, suppliers, and partners are finding new ways to compete by:
Creating personalized, consumer-driven buying experiences
Building lifelong consumer relationships now means delivering an exceptional brand experience at every touch point:
- The sales process is determined by how customers want to buy and experience the brand
- Social media and mobile technologies make it quick and easy for consumers to impact brand perceptions – positively or negatively
- Real-time feedback from engaged consumers provides valuable insight into consumer behavior and business performance
- Sharing these insights with supply chain partners improves supply chain planning accuracy and allows for more agile production runs
Maximizing supply chain performance
Meeting consumer needs is heavily dependent on effectively coordinating a complex network of supply chain partners located around the globe – and today’s digital technology is key:
- Top performance requires a holistic view of global supply chain partners, from raw material providers, ingredient suppliers, transportation partners, retailers, and more
- Boosting digital supply chain capabilities reduces costs and improves product availability
- Digitally captured consumer demand signals can integrate rapidly to product design, planning, sourcing, production, and logistics strategies
- Collaborative supply chain capabilities help enhance performance with global trading partners
Consumer Product enterprises that take advantage of new transformative digital technologies to create personalized, consumer-driven buying experiences and maximize supply chain performance will find themselves the winners in the global digital economy.
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