Digitizing to meet consumer expectations

Consumer product companies must transform to handle dramatic shifts in the market. Globalization, increased regulatory demands, mobile commerce and changes in consumer behavior are driving consumer product companies to redefine speed-to-market and the required agility of supply chains. Companies must have the flexibility to deliver customized products, for an individual, at the cost of scale, while delivering billions of units to the mass market.

Consumers increasingly expect products with Internet of things (IoT), specifically including a connectivity between a network of devices (IoT) and analytics. They now look for experiences instead of just products. In response, manufacturers are forced to adopt new methods and materials across the value chain, from design through manufacturing.

The food and beverage industry is changing under the pressure of consolidations, a growing world population, increasing food safety regulations and new business models driven by the millennial consumer.