As consumers grow more demanding, retailers need to ensure products are available at the right time, through the right channel and at the right price. While it seems collaboration between retailers and suppliers has existed forever, it has become more essential for success.
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Product development is a complicated and time-consuming process that can be completed better and faster with the right organisation. But, every problem has a solution. See what tools Lascom can give you to build a strong foundation for better product development.
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The consequences of a misguided change can be serious: thousands of unusable packaging, a failure to comply with regulations, and in the end a large amount of funds lost.
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PLM and ERP are complementary software that works together to ensure the success of a product. Product Lifecycle Management (PLM) comes first by managing the product development and its processes. Enterprise Resource Planning (ERP) manages the supply chain including the inventory, pricing, and payments. These are used sequentially to provide the most up to date product data at any time.
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When it comes to prepacked food, its labeling can be as complex as either its pack development or its manufacturing process. Indeed, wherever it may be sold, prepacked food is subject to very strict regulatory requirements, notably regarding food information to consumers. Without further ado, let’s have a look at the labeling requirements in the light US standards.
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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.
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Ingredient statement (or ingredients list) is a mandatory section for packed food labels in most international standards. Its aim is to inform the consumer about the food composition. In Europe, the regulation N°1169/2011 defines the requirements related to this ingredients list. In the US, the section 101.4, Title 21 of the Code of Federal Regulation (CFR) specifies how ingredients must be designated.
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In food companies, products change quickly, as well as the number of competitors in the market. Innovation is important to develop and manage a coherent product portfolio that meets the ever changing consumers’ trends!
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The cost of raw materials remains the top overall concern for food industries and manufacturers. Regarding extreme price volatility of raw materials it becomes a real challenge for food companies to remain competitive and assure sustainable margins. Crops, dairy products, oils, chemicals have high influence on companies' bottom line results.
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Exporting cosmetic products to China or Brazil is as profitable as it may be complex regarding their regulatory frameworks. In Paris, a few days ago, took place the annual COSMED meeting, dedicated to product compliance. It allowed the participants to get the picture of different trends and regulation frameworks thanks to the contribution of national experts. Throwback to this event with a few insights about Chinese and Brazilian cosmetic markets.
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