New Product Introduction & Promotion
Infosys' SAP-based New Product Introduction & Key Promotion Management (NPI&P) Solution: A Primer
View a demo of Infosys' SAP-enabled NPI&P solution
Why are new product introductions and key promotions critical for CPG companies?
- New product introductions and key promotions (NPI&P) are key drivers to growth for consumer goods companies. Successful new product launches are, therefore, critical to bottom line health. However, 70% of new products fail in the first year, most during their launch periods. Successful launches need to drive early consumer adoption and managing repeat demand is contingent on coordinated and effective execution to help meet shopper needs.
- Promotions like new products introductions need to be well executed and on-time to avoid out of stock situations. Additionally promotions have short implementation life cycles, making it necessary to have products and displays available.
What are the barriers to a successful new product launch?
- Products must be in at target levels by the time consumer and trade promotions are executed. Last minute efforts to correct distribution and product placement can be costly and pull resources away from other critical steps in the launch. Many new product failures are due to a lack of visibility into the key milestones during the launch process. Companies that traditionally benchmark well in introducing new products have a rigorous product tracking process.
What is the Infosys NPI&P solution?
- By providing greater visibility into the lead indicators of a new product launch, Infosys' SAP enabled NPI&P solution provides progressive clarity to correct issues before they impact the launch. The solution provides data on important checkpoints along the launch continuum - it leverages multiple data sources including retailer provided RFID signals, syndicated data sources and internal systems
- NPI&P provides a single version of truth and facilitates not only the correct interpretation of the situation, but also allows for appropriate corrective actions by the appropriate departments - marketing, logistics etc. - supporting the launch.
How does the Infosys NPI&P solution help with key promotions
- NPI&P enables the execution of key promotions through better monitoring
- NPI&P streamlines the settlement process around promotions by providing better visibility and controls
- It is tailored to varied levels of data sharing and RFID adoption amongst retailers
How does the Infosys NPI&P solution help with new product introductions
- Unified dashboard combining leading and lagging indicators
Currently, the tools used to monitor new product introductions are driven by various data sources - POS, syndicated data, retail audits and household panel data - which act as lagging indicators. They provide feedback well into the launch and often lack the granularity to provide insight into the root causes of various issues. The Infosys NPI&P solution considers leading indicators that feed data in near real time to enable rapid and accurate responses. The solution combines leading and lagging indicators to provide brand launch teams a holistic view to of all phases of the product launch.
- Developed on a Strategic Platform
Unlike other RFID solutions, Infosys' NPI&P solution is developed entirely on a SAP solution stack and integrated into the SAP platform. The solution also provides the flexibility of integrating with non SAP packages. Infosys' NPI&P solution enables CPG companies to derive value from their existing RFID and SAP investments.
- Provides enhanced visibility
Infosys' SAP enabled NPI&P solution allows organizations to leverage available data for increased visibility and effectiveness. The business is made more aware of the available information and is provided with the ability to manage exceptions. Visibility is enhanced by marrying multiple data streams, enhancing effectiveness and operational efficiency.
This is the end state for the NPI&P solution, where the solution becomes truly multi channel.. CPG companies are able to integrate key supply and demand elements and data streams allowing for effective and quick adaptation to market changes.
Can the Infosys' SAP enabled NPI&P solution leverage existing EPC-RFID architecture and investments?
- Immediate returns on EPC-RFID investments
Organizations implementing Infosys NPI&P solution receive an immediate return on their EPC-RFID investments by leveraging this technology on new product introductions at key retailers.
- Links to other data sources
The NPI&P solution merges RFID data with other data sources including POS, IRI - Nielsen to provide both lead and lag indicators for a complete view of a product's launch performance.
Retail adoption of EPC-RFID is accelerating. Learning's from tracking new product launches through EPC-RFID offers significant advantages to organizations as EPC becomes the industry standard. Organizations implementing Infosys NPI&P solution receive an immediate return on their EPC-RFID investments by leveraging this technology on new product introductions at key retailers. The NPI&P solution merges RFID data with other data sources including POS, IRI - Nielsen to provide both lead and lag indicators for a complete view of a product's launch performance. Future trendsRetail adoption of EPC-RFID is accelerating. Learning's from tracking new product launches through EPC-RFID offers significant advantages to organizations as EPC becomes the industry standard.
View a demo of Infosys' SAP-enabled NPI&P solution
Contact us for more information on results from RFID