Creating Value, Sustaining Impact with Scalable New Product Introduction
Moving Forward with Digital Technology to Build Intelligent Consumer Products
The Customer’s Quest for Process Standardization
As one of the oldest multinational consumer goods companies operating across 100+ countries, the customer boasts a rich legacy and a global presence. Their brand spans across five business segments, including Beauty & Well-being, Personal Care, Home Care, Nutrition, and Ice Cream.
The brands are well-known names in households and symbolize their dedication to improving lives while also protecting the planet. Their purpose deeply resonates with meeting the everyday needs of individuals worldwide, helping them feel good, look good, and derive more from life as they know it. They have made key sustainability efforts, focusing on climate action, biodiversity conservation, plastics reduction, and livelihood enhancement to make a tangible difference.
The customer encountered difficulties in their new product introduction procedures, characterized by prolonged turnaround times and a lack of visibility and transparency, particularly in master data management. They recognized the need to standardize the process of launching new products and reached out to Incture for a suitable solution.
3000+
Key users
~60%
Reduction in Time to Market
160+
Countries Rollout
Challenge
The Challenges with New Product Rollout
The customer faced significant obstacles in efficiently introducing new products across their extensive global network. One primary challenge was the persistently high turnaround time, which curbed the customer’s ability to bring innovative offerings to market. This delay affected their competitiveness and hampered their capacity to meet evolving consumer demands in a timely manner.
The customer also identified a lack of visibility and transparency within the new product introduction processes, particularly concerning master data management. The lack of clear data and processes made decision-making more complex, resulting in inefficiencies and delays.
A critical part of overcoming these challenges involved the need for standardizing processes when introducing new products in 160 countries. However, inconsistencies in procedures and protocols across regions hindered the customers’s efforts to streamline operations and ensure consistency in product launches.
Solution
Incture’s Roadmap to Enhance New Product Launches
Incture’s Cherrywork® Master Data Management application helped in addressing the challenges related to new product rollouts.By providing unified and harmonized material data accessible through a Global Material Code, the solution ensured better governance, compliance, and transparency throughout the product introduction processes. With semi-automated workflows and minimal human intervention, Cherrywork® streamlined processes and maintained data consistency through automated checks. The business-rules-based process parameters enabled direct user customization.
Cherrywork® Master Data Management solution enabled sales by ensuring consistent and shareable product data across various channels, including stores, online platforms, and product catalogs. With a single source, the customer could create product data once and share it everywhere, eliminating redundancies and inconsistencies across different systems. The system’s independence from SAP enabled faster processing and more effective SLA management.
Results
The Impact of Incture’s Solution on Pricing Management
The customer experienced accelerated speed to market, reducing the time from 18 weeks to just 3 weeks. This substantial reduction enabled them to introduce new products swiftly and meet customer demands. The adoption of a unified process and systems led to remarkable cost savings for the customer. By consolidating the data management process, the customer reduced overhead costs associated with redundant and inefficient practices.
With faster product launches and streamlined processes, the customer was better equipped to respond to customer needs, resulting in higher customer satisfaction levels. The solution helped the customer over 98% improvement in data quality.
Incture’s solution implementation also led to a notable reduction in human intervention by approximately 30% and time to market by approximately 60%. The sales enablement features, including consistent shareable product data across various channels and a single source, empowered the customer to drive sales growth and market expansion. The solution helped the customer onboard over 3000 key users and roll out new products across 160 countries
