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White Paper: Consumer Products Leaders Find Gold Hidden In Their Demand Data: Next-Gen BI Uncovers It
Ever-shortening product lifecycles, eroding loyalty, rising costs — operating a profitable, expanding consumer products (CP) company was already getting more challenging by the day, even before the eroding economy turned up the heat. With it came increasingly unpredictable consumer demand and growing pressure on pricing, promotional budgets, and other costs.
It's no surprise then, that the current recession has recast many CPs' agendas toward developing short-term strategies to reduce costs and to uncover new revenue and profit opportunities.
But the long-term goals haven't gone away: CPs still need greater visibility to customers, products and trends and the ability to more closely collaborate with suppliers and retailers to improve product development, manage trade funds and introduce new products. They also need to continually improve forecasting, and to create more demand-responsive production and supply chains.
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