Food and beverage, cosmetic and retail industries
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Category Archives: New Product Development and Innovation

trends in food and beverage formulation

4 Trends in Food and Beverage Formulation

By | CPG News, Formulation and Recipe Management, New Product Development and Innovation | No Comments

The food and beverage industry has been very dynamic in following trends in order to stay ahead of the game. Taking into consideration those trends, companies largely invest in new product development or re-formulation. Indeed, the need to develop new products through new or re-formulated recipes is supported by strong competition and demanding consumers – especially Millennials. Recently, there has been a great focus on reformulating or developing new product with healthier ingredients and cleaner labels. Formulators have been challenged to find new ways and ingredients to simplify labels while meeting expectations in term of nutrition, function and taste.

Here are some trends that should be embraced to stay relevant with consumers:

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From the idea to the product

By | New Product Development and Innovation | No Comments

Due to consumer demands companies need to be able to manage their innovation projects and profit from the experience of past innovations to renew their product portfolio as often as possible. By observing the innovation as a global cycle, companies can view their project from idea to product as a cycle with individual steps that can be reproduced and used as experience for future projects.

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Best practices to avoid slowing down innovation processes due to INCO regulation

By | New Product Development and Innovation | No Comments

PLM to  assist Food & Bev businesses complying with E.U.1169/2011

Whatever the food and beverage segment, a product is often changing. Change is the rule not the exception. Companies innovate constantly; even “best-sellers” need updates to remain profitable.

Launching a new product or going to new markets require companies to take many things into account such as documentation, ingredients, labeling, supply, regulations or safety.

Food and Beverage companies often maintain islands of product information spread across different departments and business units, with no overall visibility of product specifications in the company. This leads to high product costs and unstable quality standards. This could be avoided if products are manufactured in accordance with initial specifications.

To ensure specificities consistency, organized processes are key. Raw material, ingredients and product information must remain attached to a finished product at any stage of the lifecycle and being accessible by anyone with right to edit or update the products.

Lascom ensures product specifications management and provides a “single version of the truth” for all raw material, ingredients and product specifications across all divisions, locations, business processes, countries and languages.

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Innovation in Food and Beverage

By | New Product Development and Innovation | No Comments

Competition and pricing continue to be top areas of concern for the Food and Beverage industries, and raw material costs persist as an ongoing worry. Yet, in spite of the challenges, the industry is optimistically predicting continued increases in sales, more product offerings and larger workforce through innovation.

Innovation is the new key word in FMCG. For many years, Food and Beverage companies increased growth and margins by improving efficiency in production processes. But now, productivity is not enough.

Brands compete for prime in-store real estate more than ever. For that reason, innovation, speed, accuracy and visual appeal are critical to achieve success. Indeed, innovation is an essential lever for competitiveness. Innovation is one of the best means to add value to products, to get in new market places and to best answer consumers' needs and wants. To remain competitive, it is important for companies to evaluate their business models and offerings frequently and change it if needed.

The graphic below displays the advantages of innovation in the Food and Beverage market.

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