Drive organic growth by reducing time to develop while managing global regulatory complexity
The lines are blurring between Beauty & Personal Care companies and Life Science companies. Consumers today are considering what they eat, what medicines they take and the beauty products they use as part of a holistic approach for health and wellness. In response to the demands of the consumer, regulatory bodies have increased their rules and regulations on what goes in formulations, what can go on the package, how materials are handled and more.
To win in this complex environment, Beauty & Personal Care companies have to deliver on the shifting wants and needs of consumers for more 'self-service health and wellness' offerings. This means managing the complex regulatory process flawlessly. But very often today, managing regulatory compliance is a highly manual process: collecting status reviews, discovering changes late in the process and making decisions on the right materials to be used, is a long and unsaved knowledge process.
We can manage and monitor all the operational activities … to optimize product quality and traceability, contributing to increasing our Right First Time from 93.5% to 94.4%, and allowing us to have full traceability of products 10 times faster than before.
One of the KPIs for new market share growth is how fast you can take global standards and adapt them for local implementation. This means ensuring quality and performance while adapting the formula and packaging to local regulations, local tastes and preferences, and local distribution channels. Managing data is critical to implement an approach that beauty and personal care companies can take advantage of in the race for global market share.
The speed of consumer responsiveness and demand can cause supply chain bottlenecks, out of stocks, or stagnant product portfolios. Beauty & Personal Care companies that want to react with speed to a changing market need to drive supply chain efficiency by being able to source alternative raw materials with the same performance but at lower costs. It also requires partnering with retailers to influence merchandising strategies in order to implement swift changes in distribution channels.
Managing product quality and traceability in the plants
Learn more about how our industry solutions can help companies in the Beauty & Personal Care segment achieve their business objectives