Driving sustainable value chain; creating backward and forward visibility; enabling product postponement strategy
Technologies like automation, IoT, and advanced analytics will permanently change the way packaged goods are produced, distributed, and sold. Industry 4.0 presents a remarkable opportunity for artificial intelligence and data analytics to reduce costs by accurately estimating demand and inventory levels. While machine learning can help businesses anticipate and predict their consumer needs and gain a competitive advantage.
Given the scope for process improvement within the distribution sector, organizations need robust strategies to effectively estimate their business transformation needs, analyze their operations, and focus on cost management. A mindful overhaul of the company culture also has the potential to make value-chains more productive for all involved and boost efficiency. Well-informed strategic decisions can significantly elevate the productivity and profitability of any CPG company.