Accelerating Digital Innovation: GMA Report
A new Grocery Manufacturers Association (GMA) report, conducted and written by The Boston Consulting Group (BCG), outlines how consumer packaged goods (CPG) companies can face the challenges of digital disruption and thrive in the new digital marketplace.
“As the e-commerce and digital landscape evolves with rapid speed, CPG companies must update their digital tactics and meet the growing needs of the tech-savvy consumer,” said Keith Olscamp, GMA Director of Industry Affairs and Collaboration. “GMA has partnered with BCG to offer a comprehensive, instructive report that outlines how CPG companies are adapting, and steps CIOs and IT teams can take to develop new strategies for innovation. We hope this report can be used as a guide for any companies grappling with the growing demands of the new digital landscape.”
This year’s IT Benchmarking Report is based on a 2017 survey of 37 major CPG companies by BCG and GMA, and follow-up interviews with roughly a third of the participating companies. It provides a snapshot of how the industry’s CIOs are balancing a growing set of responsibilities, and provides guidance from BCG for future CIOs and IT teams. The last GMA/BCG IT Benchmarking survey was conducted two years ago.
Gartner Includes AFS in its Market Guide for Retail Execution
AFS Technologies, a global provider of software solutions purpose-built for consumer goods companies, has been recognized in Gartner’s 2017 Market Guide for Retail Execution and Monitoring Solutions for the Consumer Goods Industry. The report offers a view of the marketplace and vendor offerings in retail execution and monitoring solutions for the consumer goods industry.
AFS Retail Execution suite are an easy-to-use, flexible and robust mobile solution. It is designed to be used by field sales, merchandising and delivery teams to improve field efficiency as well as drive increased market share, revenue and margin per square foot.
“We are proud that our team and solution is recognized in this annual Gartner Market Guide. Our customer base has grown in all geographies, including emerging markets, and across all tiers.” said Joe Bellini, CEO, AFS Technologies. “We have a highly satisfied universe of retail execution users spread across hundreds of customers operating in more than 50 countries.”
Acquisition Strengthens Inmar Solution Offerings
Inmar has acquired RASMAS from Noblis, a Reston, Va.-based nonprofit science, technology and strategy organization. RASMAS is a web-based subscription service that provides comprehensive notification, distribution, organization and management of product alerts and recalls throughout the healthcare industry.
Inmar, a leading provider of recall and product withdrawal services for both pharmaceutical and consumer goods in the U.S. and Canada, has served as the exclusive reseller of RASMAS on behalf of Noblis, Inc. for the past eight years. RASMAS helps its pharmacy clients reduce alert processing time by up to 80 percent – decreasing patient exposure to potentially harmful products. The RASMAS system automatically notifies users when they are affected by recalls by comparing purchase history information with each notification released to increase efficiency and enable products to be removed from shelves faster.
This acquisition, along with that of MedEx and EXP Pharmaceutical Services, further positions Inmar as a powerful ally for healthcare organizations.
“Speed, accuracy and agility are critical in today’s marketplace – these are the tools that deliver consumer value whether in healthcare, consumer goods, or government. Response times are expected to be in real time,” says Inmar Chairman and CEO David Mounts. “RASMAS’ use of data and artificial intelligence, combined with Inmar’s data, innovation and real-time reach, have implications that extend far beyond the current application.”
Loyalty Report Reveals 75% of Consumers Want Rewards Beyond Purchase
A new report, which examines generational consumer sentiments toward loyalty programs, as well as areas where brands can pivot to accommodate consumer preferences, reveals that while traditional models remain successful, there is a growing appetite for innovation.
The research from HelloWorld validates that 64% of consumers still find it appealing to earn points for purchases, but signifies a need to shift the role loyalty plays within the consumer journey. Findings suggest that rewards must stretch beyond foundational “spend-and-earn” models. For example, 75% of consumers indicated they want to be rewarded for things like watching a brand video or taking a survey, suggesting that time is increasingly perceived as a form of currency.
Non-traditional loyalty programs are steadily resonating with consumers. Seventy percent of consumers overwhelmingly like the idea of programs partnering with other brands to increase ways to earn loyalty points. However, younger consumers are more inclined to prioritize innovative tactics in loyalty programs, with 55% of Millennials and 38% of Gen-Xers expressing a preference for surprise and delight tactics, a feat less appealing among Baby Boomers (23%). Meanwhile, 40% of Millennials believe loyalty programs should offer interactive games, emphasizing the importance of engagement and creating fun, meaningful brand connections.
The report also examines common pain points consumers across generations encounter within loyalty programs, with the greatest frustration being the amount of time it takes to redeem points. Fifty-three percent of all consumers said it takes too long to earn a reward, suggesting that programs should be designed for instant gratification with frequent rewards built in. Thirty-two percent of consumers also worry about the security of their personal information, with consumers also citing too many communications and rewards that aren’t valuable as additional pain points.
SmithFoods Adopts Food Safety Compliance Management Solution
SmithFoods Company is adopting ReposiTrak’s Compliance Management System to manage their growing list of document requirements under the Food Safety Modernization Act (FSMA). The company is a provider of fresh, wholesome quality dairy and plant-based products for co-manufacturing, foodservice and private label opportunities, and also sells products under its SMITH’S, Ruggles, Artisa and Ajoyo brands.
SmithFoods operates facilities in Orrville, Ohio; Richmond, Indiana and Pacific, Missouri, and is a member of the national Quality Chekd (QCS) organization, a not-for-profit, member-owned cooperative that delivers purchasing solutions through aggregate buying power.
ReposiTrak, a wholly owned subsidiary of Park City Group, helps manage regulatory, financial and brand risk associated with issues of safety in the supply chain.