The Consumer Packaged Goods / Fast Moving Consumer Goods - (FMCG) industry players viz. personal care products, Household hygiene products, food and beverages etc., have been innovating a lot in order to cater to the highly volatile consumer markets preferences which provide them a small window to make profits when a new product is launched and before the competition begins to launch products which begin to eat into the market shares of the innovator organization. There is a constant race to keep ahead of the competition to keep the performance of a product such that it is profitable to the organization.
The industries have realised the importance of technologies which can add predictive capabilities to their research / innovation processes in order to reach markets faster, with reduced cost while also contributing to their carbon credits. They have been very keen in deploying information technology into their research processes.
Electronic documentation of experimental information in the form of data has gained a lot of importance to internally protect intellectual property generated but also to address regulatory requirements. This data provides a great amount of visibility to the scientists right from the stage of ideation to the launch of a new drug. this information can be deployed as knowledge across the organization to leverage on data from the past experiments and develop smarter ways to create new materials with a reduced number of wet lab experiments. Thus saving a lot time and resources for the organizations.
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