Consumer Products
Consumer goods are the goods and services bought for personal and household use such as food and clothing that are intended for direct use or consumption. Consumer goods are classified as durables and non-durables. Examples include: groceries, foodstuffs, fashions, durables and clothing. Fast Moving Consumer Goods (FMCG) is a term used in reference to frequently purchased consumer goods. These products enjoy high levels of sales, within a short period of time, such as soap powder, CDs, cigarettes, groceries or toiletries.
Common characteristics of the consumer products industry
If your product belongs to the fast-moving consumer goods (FMCG) brand category, you're luckier than many. FMCGs by their nature are able to secure a more permanent brand visibility than less-frequently bought goods. Your core consumers are likely to see your brand every time they open their refrigerator doors, set their dining tables, or go to their pantries. For FMCG pertaining to the food industry, please refer to the Food and Beverage industry information.
Consumer goods manufacturers share many common characteristics:
- Make-to-stock.
- Package-to-order.
- Configure-to-order.
- Pricing competition.
- Product promotions.
- High volume.
- Wholesale, retail and Internet-based sales.
- Catalog sales.
- Some seasonality.
- High number of transactions.
- Extensive customer relationship management.
- Collaboration with trading partners.
- e-Business systems integration with large retailers.
- e-Trading.
- Electronic data interchange.
- Product change control.
- Distribution management.
- Market Research and Analysis.
- Constant new product development.
- Highly competitive.
- Quality control.
- Forecasting.
- Fast time-to-market requirements.
- Distribution requirements planning.
- Diverse markets.
Consumer Products industry challenges
The challenges they consumer goods manufacturers often face are to:
- Reduce forecast error.
- Improve electronic collaboration with distributors and customers.
- Improve lead time and order fill performance.
- Service complex markets.
- Innovate - develop new products.
- Manage customer relationships.
- Manage variable customer requirements.
- Manage product promotions and complex pricing.
- Provide efficient 24/7 web-based order taking and processing.
- Manage warehouse operations.
- Control large inventories.
- Manage product and raw material shelf life.
- Plan and manage distribution and goods in transit.
- Reduce production lead times.
- Maximise delivery loads.
- Keep late deliveries and stock outs to a minimum.
- Manage seasonal demand.
- Ensure efficient warehouse management and order picking and packing operations.
- Innovate - develop new products.
- Manage introduction of new products.
- Reduce finished goods inventory.
SYSPRO product modules can address these challenges
SYSPRO addresses these challenges with the following modules from its extensive enterprise resource planning suite. Suggested modules include:
- Forecasting Module.
- SYSPRO Analytics Module.
- SYSPRO Reporting Services Module.
- Trade Promotions Management Module.
- Return Merchandise Authority Module.
- Inventory Control Module.
- Product Configurator Module.
- Engineering Change Control Module.
- Lot Traceability Module.
- Requirements Planning Module.
- Work in Progress Module.
- Landed Cost Tracking Module.
- Bill of Materials Module.
- Contact Management Module.
- e.net Solutions.
- Document Flow Manager.
- Factory Scheduling System.
