There are over 7 billion people on the planet, each with their own desires and needs. But there is a common thread that binds large consumer groups in major CPG markets around the world. From the family of five in the suburbs of greater Los Angeles to the trend-chasing teenager in Tokyo and the couple enjoying their retirement in São Paulo, they all want to be sure that the products they consume every day are authentic, of high quality and – above all – safe.
Beyond product safety, consumers across the board also want reliable products of consistent quality that are sustainably made and reasonably priced within its product segment. From a Nielsen survey, 70% of consumers globally are willing to pay a premium for “green” products. At the same time, 61% of consumers are dissatisfied with current product line standards and variety across a wide range of CPG categories (Nielsen).
A key challenge in the CPG sector is the need to ensure that quality and compliance standards are maintained at the highest levels while being agile enough to meet consumers’ ever increasing demands, not to mention rising expectations. The cost of a misstep is high. A single product recall or viral negative review can be catastrophic to a brand. With increased product segmentation, stiffer competition and ever-evolving consumer trends, manufacturers have to stay at the peak of their game.
But it’s not just the customers who call the shots – product-related regulations also change over time and across borders. So how can you be sure that you can keep up with both customers’ and regulators’ expectations – or better yet, exceed them?
Many labs still employ legacy solutions that rely on paperwork and manual processes. This may have been sufficient in the past, but as the pace of business increases, it’s time to evolve to more efficient methods.
Imagine having all the data from every lab on your network, right at your fingertips. Imagine accurately predicting formulation performance with data modelling. Imagine being able to innovate products faster with virtual experiments. Imagine having total confidence within your reach.