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Top 6 Takeaways: Smoke Jumpers Trade Investment Meeting

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Thank you to the speakers who presented during May’s Smoke Jumpers XVII – trade investment management and optimization strategic sessions.

  • Brian Bodendein, Deloitte, Principal
  • Gary Karp, Pentallect Inc., Partner
  • John Davie, Dining Alliance, CEO
  • Mark Forbes, D&W Fine Pack, CIO
  • Matt Stredney, Conagra Brands, Manager – Business Development
  • Warren Solochek, The NPD Group, SVP Industry Relations

 

Top 6 Takeaways from Smoke Jumpers Trade Investment Meeting:

 

Smoke Jumpers XVII Chicago 2018

  • A growing need exists to optimize new product(s) and limit the resources put against those products that are less successful.
    • Foodservice manufacturers are charged with trying to help fill the gaps and bring new items to operators.
    • Use data to better manage your business and penetrate sales opportunities. Think about: where has growth been happening over the past few years? Where are the best opportunities for this product? What segments are growing? How much product should I develop – where’s the demand?

 

  • Thanks to disruption of commercial spend, there are big shifts coming in CPG retail.
    • Consumers’ value and engagement across the path to purchase is different, CPGs are changing their business model to adapt to consumer needs, and new and emerging technologies are evolving CPG capabilities.

 

  • Streamline the pricing approval process to gain trade visibility.
    • It’s no longer effective to use emails – that leads to miscommunication, incomplete data and there’s no audit trail.
    • Discover a solution that works for you. With a systematic process, you’ll automate the process, eliminate need for excel requests, increase visibility for P&L owners, alleviate risk of incomplete or inconsistent data, remove questions about approval authority.

 

 

  • Group purchasing organizations take on data transparency in foodservice.
    • Working together, transparency can be the industry norm. The goal is to eliminate the “data gates” that the dynamics of the foodservice supply chain have created.
    • Collaborate to get the right information, for the right situation, at the right time. (Who’s buying? Who stopped buying?)

 

  • Manufacturers are challenged to collected, organize and match data. Address the challenge by thinking differently and starting small.
    • Transform your data sources into formats that can be fed into downstream analytical tools.

 

  • The trade promotion business model is more transparent than ever. Adjust your process to keep up.
    • 67% of consumer goods companies can’t simulate promotional outcomes. Amazon is changing prices minute-by-minute – how can CPG manufacturers who determine pricing 12 months in advance keep up?
    • Make your data actionable. Connect the dots by working across functions internally. Do you know when you’re stacking promotions? Are you giving away a product?

 

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