Frain Integration, in partnership with the Contract Packaging Association (CPA) and other industry leaders, was proud to host the Uber Revolution Pack Summit – Tuesday, September 20 – 21, 2016. Below are some testimonials from this summit, followed by key takeaways.
“Loved Ron’s presentation, and the supplier panel was also very good.”
“It was well done and I’m thankful to be invited.”
“This event was well thought out and presented.”
Here are ten important takeaways from this summit.
- Data
Jason Tham, CEO of Nulogy Corporation stated that, “It does not matter what you build. It is what you have access to.” Millennials, in particular, have immediate global communication research influence, and real-time data at their fingertips. This instant access to information, feedback, influence, but most importantly data – pushes agility, decisions, and market trends.
- Speed/Agility
According to Business Insider, 40% of millennial consumers turn to on-the-go breakfast options to minimize clean-up time. Having breakfast options when and where it’s needed is not only convenient, but often faster. Likewise, speed and agility are becoming top priorities within the supply chain. Suppliers and brands are collaborating via shorter runs, data sharing, and speed to market incentives.
- Shared Assets
A shift is taking place whereas temporary, short-term assets are superior to fixed assets. Vacation rentals and taxi fleets, for instance, are not centrally provided in the shared model, but instead nimbly deployed as needed. Shared manufacturing and access are also emerging and offering the same efficiency within the Packaging Industry today.
- Collaboration
Depending on the level of collaboration, brands must be flexible. They leverage each other’s data, logistic resources, and distribution centers. Still, brands have to consider how collaboration impacts intellectual property (IP). Geographically, certain cultures may make it difficult due to replication and speed, while suppliers may make it challenging due to knowledge access.
- Flavor Explosion
Keeping up with flavor explosion has proven to be a challenging opportunity for brands. New demand aims for solutions where brands understand that selling existing products is not an alternative. Rather these temporary solutions are primarily driven by data, information, and agility. An interest in organic baby food, as an illustration, drew a need and preference that established a new price point for apple sauce.
- Packaging and Size Portion
Sustainability and health concerns have pushed for a less is more movement. Wasteful and non-recyclable packaging has transformed to new, smaller, and/or prudent packaging. Take for example, Libby’s Sweet Corn went from a 16 oz. can to a 14 oz. stand up pouch without changing the price- $1.19.
- Commerce
E-commerce has competed with traditional commerce for several years, but is it possible that retail shelf space will decline due to the on-line channel? Communication between brands, suppliers, and retailers is the essential to the off-line market while real time data is key to an online channel. There is an extremely profitable future in e-commerce and many companies, like Clorox, are trending to this space, and investigating how to best supply product to this network.
- Technology
Todd Caraway, Director of Contract Manufacturing of Continental Mills, Inc. stated that, “Technology continuously increases in impact.” Mike Brodie, Director of Contract Manufacturing Partnerships of Torani agreed to, “Invest in data and make decisions upon that data.”
- Mass Individualization
Long gone is yesterday where uniformity and similarity was the mass customization of a group. Today individual needs are calibrated for a mass customization of an individual with an explosion of private label competition versus big brands.
- Transparency
Now, more than ever, consumers want to know what they are consuming and where it came from. The ultimate goal is complete product transparency and brands need to collide with the supply chain to achieve it. Through transparency companies create brand loyalty and establish differentiation among competitors.
