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It’s not only about ‘Products but about ‘Services’ as well!

A greater focus is on product innovation to stand out in the competition. Along with it, the modern strategists know the importance of astounding customer service. Making efforts to direct customer care and support towards winning the game is the key. FMCG companies are emphasising to provide value offerings to the consumers. The traditional sales and production scenario is less relevant. Personalised products, discounts and services are more appealing now! This also widens the scope to extend and indulge in cross-selling.

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More Automation, Less Efforts

The emergence of latest technologies including IoT (Internet of Things), 3D printers, sensors and product manufacturing devices have motivated the concept of effortless automation. It can be foreseen that moving to digital will not only apply to marketing. SaaS-based solutions will be in a rage for managing tasks and customer complaints with automation. Handle workforce and meet the compliance to governing hassle-free business management. It will reduce redundancy, repetitive work and allow concentrating on core operations.

The next horizon for digital manufacturing

Consumer companies may also soon reap greater benefits from new digital tools that are continually being refined. Consider the following innovations:

Augmented-reality tools. These tools provide data about the user’s environment in real time and facilitate information sharing. With smart glasses, for instance, employees can see and view new work orders while on the factory floor, or take and transmit photos of broken machines to offsite experts. We estimate that smart glasses could improve productivity by 5 to 10 percent by increasing the speed of operations, improving communication, and enabling paperless processes. Other augmented-reality tools could provide instructions to technicians responsible for complex changeovers or to warehouse workers searching for particular items.

3-D printing. Consumer-goods companies could use 3-D technology to facilitate product design and the manufacture of samples. At one shoe manufacturer, 3-D technology reduced the number of employees needed to create prototypes from 12 to 2, significantly decreasing costs. Companies could also use 3-D printing to print low-frequency replacement spare parts on demand at a production site rather than keeping them in stock or having them shipped after a breakdown. This approach would reduce the cost of holding spare parts, facilitate maintenance processes, and reduce downtime.

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Connected sensors and controls. Companies across industries have recognized the potential of the Internet of Things (IoT) and invested in connected sensors, such as those that can detect unusual machine vibrations and transmit their findings to monitors in a remote location, allowing offsite staff to direct corrective actions without having to travel to the facility. In heavy industries like mining, IoT sensors have reduced costs by 40 percent and downtime by half. While some consumer companies (such as the diaper manufacturer mentioned earlier) have invested in IoT sensors, most lag behind their peers in other sectors. We believe this will change as IoT offerings become more sophisticated and consumer companies realize the value at stake.

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