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Volatility in the cost of materials and shifting buyer needs are nothing new for consumer products companies, but current conditions are exacerbating these perennial challenges. Competitive pressures are familiar to everyone in the industry. But as the COVID-19 pandemic recedes, that competition has extended to human resources, with unemployment at the lowest level in decades causing unprecedented challenges in hiring and employee retention. Sales growth and market expansion require smart technology investments and innovation to maximize brand-building strategies, optimize pricing, fine-tune offers and channel programs, and support efficient financial and hiring processes.
Supporting Reimagined Business Models with Co-Innovation
SAP has supported the consumer products industry for almost five decades, providing fundamental solutions enabling a single view of the business from finance to the customer experience. In short, SAP solutions focus on helping manage intelligent processes in a digital world.
Now, SAP’s industry cloud is opening the doors for a new level of co-innovation with customers and partners, enabling next practices and new business models that can help you capture opportunities and take the next step toward becoming an Intelligent Enterprise. Launched in 2020 and building momentum ever since, industry cloud is essentially an innovation space where customers and partners are building and integrating cloud solutions to address specific industry needs. With SAP Business Technology Platform as the foundation, the solutions work with and extend our intelligent suite and business network solutions. This makes for smoother processes and simplified IT.
Addressing Specific Challenges in Consumer Products with SAP and Partner Solutions
A wide range of industry cloud solutions from SAP and partners are available on SAP Store, where you can try, buy, and be up and running faster than ever before possible. And you can be confident in partner solutions that are rigorously validated by SAP for quality and interoperability, with a similar look and feel for usability and fast adoption. Here are just a few examples of industry cloud solutions for consumer products that you can find on SAP Store.
Optimized Dynamic Pricing by Pricef(x) AG. This SAP Endorsed App is a tailored solution that allows you to respond quickly to fast-changing market conditions. Through integration with the SAP CPQ and SAP Commerce Cloud solutions, it calculates prices in real time, based on a predefined set of business rules and price-optimization algorithms using machine learning techniques.
Text Recruiting Automation and Conversational AI by Paradox, Inc. Developed through the SAP.iO Foundries program, this app integrates with SAP SuccessFactors solutions and supports more than 100 countries and more than 30 languages. Decrease time to hire and boost conversion rates by automating tasks involved in employment applications, including candidate screening, interview scheduling, and response with simple, fast mobile text or chat.
INTURN 360 – Excess Inventory Optimization by INTURN. By streamlining workflows, this enterprise platform improves efficiency in managing slow-moving and excess inventory across departments, providing a system of record. It consolidates complex inventory files and makes sense of large data sets to provide full real-time visibility into inventory status for better inventory control.
CPG Suite – Offer Innovation by Eversight, Inc. Integrated with the SAP Trade Promotion Management application, CPG Suite helps you manage your promotional strategy and empowers the field to plan more effectively. Update your strategy continuously using A/B tests and post-event analysis and share results immediately with the field, while giving central teams deep visibility into planning processes.
Retail Suite Programmatic TPRs by Eversight, Inc. This solution supercharges promotion performance by automating testing with real shoppers. It integrates with the SAP Customer Activity Repository application to collect performance data on offers across stores via dynamic, AI-powered optimization. Continuously test hundreds of different offers to assess efficiency and drive sales growth.
Smart Retail Execution by TeamCore Solutions. Sales and supply representatives can get alerts about which products aren’t selling and what actions they can take – immediately. This app uses machine learning to power intelligent workflow automation to generate prioritized tasks for field team execution, with accurate forecasts and meaningful insights based on sales opportunities.
SAP Variant Optimization and Pricing. Sales teams, customers, and channel partners can configure and price your products accurately and efficiently with this solution from the SAP Commerce Cloud portfolio. Use variant configurations to define product models in a bill of materials with classes, characteristics, and dependencies between the characteristic values.