Studies indicate that more than 70% of new food and beverage products fail. Couple high fatality rates with fierce competition in a tightly regulated market and the product innovation challenges facing Food & Beverage manufacturers are clear. Despite the associated investment risk, Food & Beverage companies depend upon new and improved products to grow market share. The most successful are finding ways to improve the odds of choosing the right products for development, and increasing the speed at which they bring them to market.
Sopheon’s product development software solutions help Food & Beverage manufacturers lower the business risk of product innovation. Through their provision of decision support and product portfolio analysis, our systems enable users to identify new product winners early in the food & beverage product development process and keep resources focused on the best commercial opportunities. They streamline compliance with critical regulations such as FDA 21 CFR Part 11. As a result, the right products get to market faster, success rates are higher, and new products contribute substantially more revenues and profits to business performance.
Learn why leading Food & Beverage manufacturers such as SABMiller, PepsiCo, Land O'Lakes, H.J. Heinz, and Hormel have adopted Sopheon’s product development software solutions to:
- Capture, track and assess new product ideas and other product innovation data
- Automate product development processes, reducing the administrative burden of implementation, coordination and reporting across business functions, divisions, and locations
- Improve management of all phases of food & beverage product development, from portfolio management to process execution, helping to shorten cycles and reduce costs
- Streamline the development of product packaging and labeling and support compliance with regulatory requirements
- Prioritize projects, speed time-to-market and increase new-product success rates