Search Blog:

How CPG can drive collaboration across PLM with Social Knowledge Networks

The consumer goods industry is rapidly moving to more a collaborative business model. R&D, sales, and marketing professionals are increasingly using, sharing, and collaborating on volumes of data to drive innovation and better understand their customers.

They need to be able to quickly connect with not only colleagues, but also with information about their products and consumers to make fast and accurate decisions across every stage of their product lifecycles.

That's why we're profiling the consumer goods industry next in our Vertical Views series. We've put together highlights from our notes on the industry's knowledge needs, based on our interactions with companies in the space.

We've also assembled key points to help consumer goods professionals understand how they can use Social Knowledge Networks (SKNs) to manage their knowledgebases, bring disparate information together, and collaborate across departments and production sites. Peer into what we've learned, and let us know your impressions and ideas.

Consumer goods at a glance

The recession continues to be a challenge for most markets, including the CGP industry. With more consumers cutting back spending, companies must increase efficiencies across their supply chains. Companies are focusing on reducing costs, enhancing supply chain visibility, and improving risk management programs.

Other issues facing the industry include hot-button topics such as product safety and product recalls. Companies must get their arms around ever-changing legislation and regulations, ensuring they comply with new requirements and policies.

The green movement is pressuring companies to incorporate sustainable business practices into their operations. Consumers are increasingly seeking out and buying products that are organic or environmentally friendly. However, companies must also adhere to the FTC's green marketing regulations, which prohibit deceptive advertising and labeling of green products.

Consumers worldwide are also migrating away from traditional paid advertising, and towards "below-the-line" media and CPG corporate marketing programs that put them in direct contact with consumers. This shift is giving rise to digital marketing platforms, transforming the way in which consumers experience advertising and establish relationships with brands.

As a result, R&D, sales, and marketing professionals in the CPG industry must manage data as varied as the products themselves. This includes both traditional and digital information, and internal as well as external marketing and competitive data.

To stay competitive, companies must regularly re-examine nearly every consumer-facing business process to ensure they align with new consumer and business priorities. This includes product development, advertising, pricing, promotion, merchandising, and assortment. The market is on the move, and companies must stay agile to compete.

What the Social Knowledge Network package can provide

Collaborative innovation is a growing initiative for many consumer goods companies. CPG leaders want to engage in larger collaborative networks to better understand sourcing decisions and share information on new production processes and technologies.

SKNs can help executives, brand and category managers, R&D professionals, and consumer insights professionals create these networks. They can gain access to the content and people they need to derive insights from their knowledge-based communities-insights essential to a company's competitiveness.

SKNs allow vetted information -- such as documents, images, videos, presentations, RSS feeds, and so on -- to be enhanced and informed by comments, ratings, and other feedback from the community.

All content is contained in one central repository, breaking down department boundaries and eliminating information silos such as shared network drives and folders, inboxes, and document management systems.

This can speed information discovery, which in turn increases productivity because workers are spending less time searching for data, and more time using it.

With SKNs, socialization is content-centric. There is no "separate but equal." Rather, there is a tight integration between content and social commentary to make the information more relevant, easier to find, and of higher value.

This connects people not only to the knowledge they need, but also to their colleagues. Workers can collaborate across departments and production sites, which fosters innovation and speeds collaborative decision-making across product lifecycles.

For example, CPG companies that want to establish or maintain their presence as market leaders must continually innovate and refine their products and services. Many rely on ongoing analysis, research, and development to address these evolving needs.

Companies can create true knowledge communities within their SKNs to capture the wisdom of their experts through comments, ratings, and blogs. This can drive global access to relevant research data, fostering innovation through improved research, planning, and product development.

In the consumer goods industry, there is a constant drive for innovation to tap new market opportunities and speed new products to market. SKNs are well-suited to forming the backbone to support and drive these goals.

This was a high-level look at how Social Knowledge Networks can help consumer goods companies improve productivity and speed decision-making across PLM. If you are interested in learning more or just want to talk about your collaboration needs, don't hesitate to leave a comment here or drop us a line.

No comments:


Related Posts Plugin for WordPress, Blogger...