Automation, smarter systems, and processes are emerging in almost all aspects of CPG retail. With consumer retail technology undergoing dynamic shifts to the digital, everyday objects are turning into smart objects. A Smart Product is a product that maintains information about itself and the context to enable new digital processes and capabilities. Everyday products can […]
Every day, more and more devices are being connected to the Internet. According to Statista, the global internet of things market is projected to be valued at more than 1.7 trillion US dollars by 2019, with the global connected devices forecast to reach 20.35 billion the same year. Moreover, Navigant Research projects the global smart […]
While the world is still getting accustomed to spotting wearable devices on fellow humans, IoT enabled applications have ushered in a new era of the Internet of Products. The Internet of Things is commonly associated with smart home control devices, wearables like the FitBit, vehicles and other device equipped objects that connect to the internet […]
Product recalls owing to faulty batches of products, defective parts, contaminated batches and other defects hurt just about every manufacturing sector and cause often massive losses. Not only does the recall process cost companies big bucks, it impacts the brand credibility amongst consumers. According to the Grocery Manufacturers Association in the US, the financial impact […]
Barilla’s Field to Fork Model can be identified as a noteworthy use case on the Internet of Products. Founded in 1877, Barilla is an Italian food company which produces a variety of pasta and sauce. Barilla has made a huge impact through its traceability efforts and consumer transparency initiatives. The company uses an internet of […]
Counterfeiting is a major concern for brands. Companies lose billions of dollars in revenue and consumers also suffer the consequences in situations where they are unable to verify themselves or their ownership over products. “The Organisation for Economic Co-operation and Development (OECD) estimates the annual value of international trade in all counterfeit goods at $200 […]
As the retail industry keeps evolving, retailers and organizations continue innovating technology-enabled processes for refining product operations. Whether a business is just starting out or has been established for a while and has multiple SKUs, supplier, vendors and customer under its belt, product information management plays a critical role in the end to end retail. […]