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
The Top 6 Takeaways from Smoke Jumpers – Trade Spend Strategy Meeting:
- 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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