Volume, variety, and velocity
Winshuttle's Andrew Hayden is featured in Manufacturing Management.
Shifting market dynamics, evolutions in technology, and the rise of e-commerce are all changing buyer behaviour, with the modern consumer expecting more product choice than ever before. To remain competitive and maximise revenues, brands need to react fast when introducing new products to the market.
Winshuttle recently surveyed large manufacturing firms using ERP systems and found that 68% of respondents expected the number of new products they would launch over the next four years to increase. Some brands are already attempting to respond to this trend, for example, global fashion retailer Topshop launches over 400 products every week while sporting goods giant Adidasreported that the new products it introduced last year accounted for 79% of sales.
However, with an abundance of data to collect, multiple teams involved, and complex processes, it can be problematic for large organisations that are not streamlining and automating manual tasks to speed up product launches in the timeframes required.