Explore how leveraging digitalization platforms in the consumer products industry can unleash innovation at speed and scale. In this whitepaper, IDC, a leading, global, independent research and analyst firm, answers the question “Could digital transformation be a way to increase revenues and margins for consumer goods companies, while also improving collaboration and innovation?”
Key technology trends in consumer goods digitalization
Today, the customer is in charge of the value chain, and retailers are shifting their customer experience strategies toward real-time contextual personalization, depending on dynamic customer journeys and segment-of-one consumer profiling. As a result of such a significant shift, retailers are making significant investments to digitally alter their businesses. Learn more about key technology trends taking place in consumer goods digitalization.
Digital twins bridge communication between product development, manufacturing & supply chains
Data-driven rendering of virtual and physical products, as well as more agile and ecosystem-focused execution of complex production processes, are made possible by digital twins. In the near future, CP organizations will invest in digital twins. IDC predicts that by 2024, half of manufacturers will have networked linked product and asset digital twins into digital twin ecosystems for a systems-level view of their business and a 5% reduction in quality expenses.
Companies investing in digital twins benefit in speed, product personalization & improved customer experiences
The fundamental overall value of digital twins is that they can be the repositories of multiple data models related to the product or asset: manufacturing, supply chain, service delivery, or customer, among other major benefits.
Siemens Xcelerator delivers digitalization solutions to help consumer goods companies of all sizes become digital enterprises
Siemens provides Siemens Xcelerator, a comprehensive, integrated portfolio of software, services, and an application development platform, to assist CP companies in doing so. It is intended to assist businesses of all sizes in becoming digital firms by providing solutions that can be tailored and adapted to meet customer and industry-specific needs.