Consumers today expect to influence the product innovation process, having a say in creating products that are customized to their needs and values. CPG companies need to meet this demand cost-effectively and at speed, or they risk missing out on crucial revenue opportunities. In this brief, you’ll learn how smart product and process design is helping the CPG industry meet current challenges and supercharge innovation.
CPG industry problems and solutions
The use of simulation in the product innovation process can solve a variety of business problems for CPR companies including the need to respond to trends, the need to go to market at increasingly fast speeds, the cost of scaling and increasing the number of product variants, and the desire to take environmental and health concerns into consideration.
Improve concept to market time
Along with the consumer expectation that CPG companies keep up with trends, emerging markets are set to grow significantly, creating added pressure for companies to scale globally and produce local variants. Simulation and concurrent design allow companies to improve concept to market time without sacrificing performance.
Sustainability in manufacturing industry
Today, consumers are more aware of the environmental impact of their purchasing decisions and will hold CPG brands to their sustainability promises. Virtual simulation through a comprehensive digital twin helps companies avoid costly errors prior to production and creates opportunities for innovation that create more sustainable operations.