CPG Brands Have Gotten Innovation Drunk | Managing Innovation Risk

In a challenging business environment, where managing innovation risk has become critical, should you be expecting more than the typical brand-supplier relationship in the CPG industry? With tens of thousands of new CPG products launching every year, simply putting “new” on a bottle won’t get any meaningful market attention. There’s no doubt in my mind that innovation done right accelerates company growth in the CPG industry, but anticipating consumers’ needs, and measuring and managing innovation to address those needs, will continually get tougher. The supply side (e.g. ingredient suppliers and contract manufacturers) of the CPG industry have a vested interest in helping you beyond the lowest common denominator of just selling you ingredients or compiling the recipe or formula together to create that innovative new CPG product of your dreams. Seek out these partners, like Nutiani, as early as you can in the process to take advantage of value-added services and support. “What you don’t know can hurt you” or at least that ignorance can create disadvantages within the CPG industry. So, my baseline hope with this content was that you learned to elevate your expectations when seeking out supply side partners. Full List of Nutiani Solutions FOLLOW ME ON MY SOCIAL MEDIA ACCOUNTS LINKEDIN - https://www.linkedin.com/in/joshuaschallmba TWITTER - https://www.twitter.com/joshua_schall INSTAGRAM - https://www.instagram.com/joshua_schall FACEBOOK - https://www.facebook.com/jschallconsulting MEDIUM - https://www.medium.com/@joshuaschall