Butterfingers

Consumer packaged-goods companies are rapidly turning to digital technologies to help capitalize on fast-changing customer preferences.
Ferrara Candy Co., for example, tapped SAP to more quickly integrate data from multi-billion-dollar mergers.
And software from the German tech giant also helps inform the research process, cutting the development timeline by as much as 50% for new innovations.
“Every CPG company is facing the challenge of consumers getting really bored really quick,” Chief Information Officer George Lesko told Business Insider. “The appetite to wait another six months to get it to market is just not going to be there.”
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The consumer packaged-goods industry is in a state of upheaval.

Heavyweights like Frito-Lay and the Kellogg Company are all quickly pivoting to digital to respond faster to changing customer demand and to fight off competition from direct-to-consumer upstarts. The coronavirus pandemic has only accelerating many of those changes.

Ferrara Candy Co. is no different.

The owner of brands like Nerds and Jujyfruits started its digital overhaul in 2014 with a goal of using new technology to accelerate decision-making and get new products to customers quicker.

But as more of the growth in the CPG industry is driven by small incumbents — presenting the opportunity for mergers among legacy players — Ferrara’s journey also shows how tech transformations can help to quickly integrate companies after an acquisition.

“Every CPG company is facing the challenge of consumers getting really bored really quick,” Chief Information Officer George Lesko told Business Insider. “The appetite to wait another six months to get it to market is just not going to be there.”

Ferrara was formed in 2012 after a merger between formerly Illinois-based Ferrara Pan Candy Company and …read more

Source:: Business Insider

      

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