Manage product life cycle in processed food
To cope with an increasingly competitive global market, small and medium enterprises as well as large groups must innovate to maintain their market share.
This requires being able to respond quickly to market demands and includes:
Innovation-driven organizations can achieve sustainable value creation and profitable growth. Growth can be delivered by a range of practices and capabilities. Successful companies are constantly evaluating opportunities for product innovation.
Meeting changing market demands is more important than ever. Consumers are extremely fickle and companies’ adaptability is crucial for survival. A properly implemented innovation process allows can shorten new products time to market and help maintain margins.
Due to global trends, distributors or clients’ expectations, consumers’ needs, regulations or even lobbies, specifications are more and more complex and detailed. To avoid slowing down the product time to market or reducing revenue, product management has to be adapted from innovation all through product life cycle.
Benefiting from a global and strategic view is important to better manage potential financial, brand image or regulatory risks related to the product management
Regarding food trends, traceability is becoming a significant factor in product management. To ensure product quality, regulatory compliance and traceability, R&D teams need to manage, monitor and maintain a large amount of data.
All Product information is centrally managed into the repository: data, documents, events associated with product development, change management, quality management, and regulatory compliance
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