There are significant ROI benefits that come from CPG organizations and retailers of sharing downstream data, as well as data being shared throughout an organization. Controlling OOS, managing inventory, forecasting, replenishment and promotional compliance are all improved through collaboration and the sharing of data.
Last year, in the 2013 State of Data Sharing study released by CGT and RIS News, 39% of CPG organizations claimed to receive daily downstream data from ten retailers, up from just one in 2012- and this number is only expected to increase in this year’s annual study, released in upcoming months.
With more retailers sharing POS, inventory and loyalty data, combined with any third-party data and causal data that they collect at the shelf, consumer goods organizations need to keep their data organized and accessible. Many companies are turning to a demand signal repository (DSR) to store and clean their data, so they are able to drill to find very specific pieces of data that are of interest and analyze it on a high level.
Within the organization too, CPG companies are able to share data more easily between different levels and departments, getting all team members on the same page and unifying goals. Companies are seeing results with improved on-shelf availability. With a combination of collaborating and sharing data with retailers, as well as throughout the organization, consumer goods companies are able to not only see watt is happening with their items in–store, but also look ahead to identify what is most likely to happen next.
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