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News, information and comments about food and beverage manufacturing, food service, retail and personal care

Category Archives: New Product Development and Innovation

Reduce time to market

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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Innovation in Food and Beverage

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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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Replay webinar: collaboration in NPD

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Successful product innovation relies on the ability to collaborate across different departments on key business activities, such as product score-carding, product development, supplier sourcing and management, product labeling and artwork development, as well as issue management. However, collaboration can be extremely challenging. Effective
collaboration between marketing, R&D, quality, sales, procurement, and operations accelerates time to market and increases product success. Poor collaboration means fewer good ideas, less optimal decisions, slower cycle time, and greater risk.

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Bolthouse: efficiently manage new product development information

By | New Product Development and Innovation | No Comments

Bolthouse and Lascom to better manage NPD informationBolthouse Farms reduces delays, eliminates re-keying, and enables enterprise-wide visibility with Lascom CPG Solution
“Our goal of a single, reliable, and secure source of product information that we can all tap into has been achieved. We're very happy with the support we received from Lascom to make this project a success”
Raj Gandhi, assistant controller operations accounting at Bolthouse Farms

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