Overview:

Consumer product companies face great challenges in delivering their brands amidst supply chain delays, rising costs, and staffing shortages. Amidst these trials, safeguarding brand assets becomes paramount. Service providers and supply chain partners are not immune to these same business challenges and might not always be equipped, adept, or solvent enough to take care of their client’s brand assets. Relying solely on partners can lead to limitations and delays. Hence, it is vital for companies to independently manage their brand assets through an accessible platform.

To ensure data security and effective asset management, companies must know where their data resides, organize it for utility, and establish a single reliable data hub accessible across all business units. Accurate, accessible data isn't just fundamental; it's the bedrock for successful brand assets. It paves the way for AI effectiveness, process automation, and facilitates sustainable practices by minimizing material and logistical waste.

This is the reality of brand and packaging execution across the industry:

• 45% of product launches are delayed.

• 40% of food recalls are due to mislabelling.

• 50% of drug recalls are due to mislabelling.

• 22% of labels are written off due to non-compliance.

While the benefits of having a solid data management strategy are apparent, it’s important to ask a simple question: “Who controls your data?” The unsettling answer for many companies is a variation of “I don’t know”. With multiple stakeholders and iterations, data management becomes a challenge. Often, accurate data remains with the last stakeholder or vendor involved.

Controlling your data translates to:

• Increased profitability: Consider the additional revenue you would gain by bringing your new product to market on time. More so, what if you could increase the speed of production and get to market faster?

• Cost Reduction: Changes are inevitable. The deeper into the approval process that edits occur, the more they cost.

• Error reduction: Errors from bad data extend project timelines, drain valuable resources, and contribute to waste.

• Confidence in your branding: Harmonizing your digital and physical presence strengthens your brand continuity by creating a ‘Single Source of Truth’ for all your products, regardless of the consumer touchpoint.

• Compliance: Regulated industries such as Pharma, Medical Devices, and Nutritional supplements require companies to verify packaging and collateral content, and data integrity is essential to achieving compliance.

• Agile change management: Change and uncertainty are inevitable in every industry today. When you control your data, you can adapt to new conditions, explore new opportunities, and select the most reliable supply chain partners.

What can you do to control your data?

Gaining control can seem like a daunting task. A few straightforward steps will put you on the right path.

• Map out your process and stick to it: Evaluate your current state and verify your start and endpoints.

• Leverage technology: Choose a technology and service provider that will meet your needs now and in the future.

• Consolidate your data and assets: Choose an independent and secure method to store and manage your assets and content to gain total control and access.

• Create a single source of truth: Collect and store your data in one centralized platform to prevent inconsistent iterations from being used. Manage access and permissions for approved editors and reviewers only.

• Ensure your technology is bi-directional and compliant: Systems need to speak to each other to enable efficiency and accuracy.

About ManageArtworks:

If you’re struggling with digital transformation, you’re not alone. ManageArtworks has the technology, resources, and experience to assist you in controlling your data.

Our cloud-based packaging, copy and artwork lifecycle management systems connect people and processes across internal departments, customers, suppliers, agencies, and vendors to get products to the market faster while meeting regulatory compliance.

ManageArtworks is the foundation for your packaging and artwork requirements, delivering supply chain agility and compliance.

Contact us for more information to see how we can help you control your assets.