CGF Global Summit 2023: Unlock Sustainable Growth With Collaboration and Innovation

Master Data Management Blog by Stibo Systems logo
| 5 minute read
July 05 2023

Over 1,000 CEOs and leaders recently gathered in Kyoto, Japan, for the Consumer Goods Forum (CGF) Global Summit in the famed venue where the Kyoto Protocol was signed 25 years ago. CGF attendees adopted a similar collaborative mindset this year, ready to tackle the industry’s most challenging business and sustainability problems. Leaders discussed how to take tangible action together to positively impact climate change, lessen suppy chain disruption and grow their revenues – despite the constant turmoil facing their businesses.

CPF-2023-0

While there are many challenges impacting consumer packaged goods (CPG) and retail companies, following are three disruptions that were top of mind among the C-level attendees at the event:

  1. Consumers’ lives continue to be disrupted, causing unpredictable changes in shopping behavior. According to the EY & CGF study released during the event, 74% of consumers are concerned about increases in cost of living, and 54% expect cost-of-living expenses to increase in the next six months.1 As costs rise and the importance of sustainability changes, consumers are reevaluating their purchase decisions and overall perspective on consumption. Additionally, since the mix of goods and experiences has changed post-pandemic, some consumers may decide to purchase used items in certain categories and trade up in other categories – all while keeping a closer eye on their budgets.
  2. Rapid adoption of generative AI technology. CPG companies and retailers face a tidal wave of generative AI innovations that are extremely promising but hard to execute. Kearney’s session – “Armageddon or AI-Get-On: Can AI Regenerate Consumers’ Trust in Brands?” – offered an interesting perspective on the impact of AI on consumer trust. While the case for using AI varies by situation and geography, consumers’ top concerns are loss of human connection and data privacy. Most consumers, however, do see the potential value of AI, citing faster customer service, lower costs and more efficient product creation as top benefits.2 Similar to other technology investments, adopting AI across the enterprise requires focus on the consumer: What is the value for them? What are their expectations and concerns for various use cases? Lastly, it is important that a brand’s use of AI aligns to its mission and engages long-term consumer trust.
  3. Changes in the way we work. Both external and internal factors are elevating the need to change how businesses work across all organizational levels and with partners. Companies no longer lead consumers in technology adoption, but instead are trying to keep pace. Therefore, they must be agile in order to adapt business models, adopt more digital capabilities and remain relevant. Furthermore, climate change pressures, growing data requirements and the need to have continuous data flows from trading partners are prompting additional changes. Companies are rethinking their processes to avoid errors and overwhelming their data management talent. According to Daniel Rodriguez, CEO of FEMSA, “One of the main challenges is how we make sure that our company is evolving and transforming faster than the consumer.”1

 

Driving action at scale across the industry

Amid this ongoing turmoil, impacted CPG and retail companies are looking for innovative, business-building ideas and new ways of working internally and across enterprises to make lasting change to their businesses, meet consumer expectations and achieve sustainability goals.

Innovation

During the conference, multiple talks were presented on the technological innovations that are driving change today. Although multiple AI use cases are now available for rapid deployment, AI use needs to be in the right context, with the right level of interaction, to ensure value and maintain trust.

In IBM’s session, “When Sustainability Isn’t Enough,” the speakers shared that executing on sustainability goals has become a catalyst for innovation. They shared how they are using technology more often to operationalize their business and sustainability goals. The top two advanced techologies that companies plan to invest in to operationalize sustainability are automation (71%) and data and advanced analytics (69%).3 Leaders from companies are now expecting results from their sustainability goals. Therefore, companies must integrate sustainability into their DNA to achieve meaningful and measurable results.

Regardless of the sustainability opportunity to also drive sales or reduce costs, it is important to keep the consumer in mind at all times. Your organization needs to be agile, so it can adapt quickly to changes and react appropriately to new opportunities. Without consumer centricity and an understanding of the value of any technological change, it can be easy for organizations to adopt technologies that don’t really matter.

Collaboration

New CGF Co-Chairs – Frans Muller, President and CEO of Ahold Delhaize, and Dirk Van de Put, Chairman and CEO of Mondelēz International – led a session on the need to accelerate the impact of CGF to make positive change in the industry. It will require all companies working together to overcome the challenges shared above. To succeed, solutions must be integrated across the value chain.

In their session, they stressed the importance of improving product data across the industry. The CGF participates and encourages the adoption of standards and innovation from GS1. The first one is Verified by GS1, which requires brands to use seven defining product attributes in a global registry. The second one is the Global Data Model, which establishes a consistent set of product attributes to address data quality and reduce inefficiencies in data sharing. CGF is also looking ahead to the implementation of the two dimensional barcode in 2027, which will reduce the code clutter on packages to one QR Code, improving the customer experience and the point-of-sale checkout and business processes.

 

AEON Next co-presents with Stibo Systems

Mr. Bharat Rupani, President of AEON Next, sat down with Stibo Systems’ CEO Adrian Carr to discuss the company’s data management journey. In the session, “The Digital Shift in Japan: How AEON Next Is Using Advanced Technologies to Transform Business and Enable Sustainability Success,” Mr. Rupani explained how grocery ecommerce had grown rapidly after the pandemic and that there is now a permanent consumer need of convenient food delivery in Japan. To lead in the market and meet this consumer need, the AEON Group developed a digital shift as part of its innovation plan.

“AEON Next and team are building a new direct-to-home ecommerce site based on leading-edge technology for AEON. We had a great session with Bharat Rupani, President of AEON Next, talking about the challenges he has wrangling the data to make this business fly. That was my highlight of the event,” said Carr.

AEON Next, an AEON Group subsidiary, plays a key role in executing this innovation plan, with its launch of a next-generation online grocery platform for Japanese consumers. According to Mr. Rupani, “We recently disclosed our consumer brand to the Japanese market – Green Beans – of which its services will start this coming summer. We aim to bring a compelling online grocery shopping experience that supports young, busy families in their daily lives. Our goal to transform shopping is based on three pillars: ease, reliability and choice.”

CGF-2023-1

AEON Next started its digital shift journey by identifying the data required by its cutting-edge Customer Fulfillment Center by Ocado. To go beyond its brick-and-mortar and standard ecommerce model, the company needed to substantially increase the number of product attributes it managed, and its current product information management (PIM) system was unable to handle the change in requirements. This is when AEON Next realized that product data was a critical success factor, and it needed a robust PIM.

AEON Next deployed Stibo Systems Product Master Data Management, enriching the data to meet all downstream application needs and sharing that data consistently to consumer-facing websites and its warehouse management solution. The company is now well positioned to deliver something unique and valuable to its customers and the Japanese grocery market.

CGF-2023-4

Regardless of whether your company is in the CPG or retail industry, the next few years are likely to be tumultuous. Significant external challenges, changing consumer expectations and rapid adoption of new technologies could be quite a challenge if your company’s foundational business data is not high quality or available for use.

Stibo Systems participates in collaborative discussions about standards with CPG companies, retailers and the CGF community. Our industry knowledge, coupled with our innovative Multidomain Master Data Management platform, helps our customers comply with regulations, drive efficiencies through collaboration, and enable innovative and sustainably minded growth.

Learn more about our Science Based Targets initiative (SBTi) net-zero commitments and our corporate social responsibility.

CGF-2023-3

Sources:

1 “Pursuit of Harmony in Turmoil: Working Together to Make a Difference,” EY & CGF, June 2023, pg 6.

2 “Generative AI Study,” Kearney Consumer Institute, May 2023 (cited at CGF Global Summit 2023).

3 “When Sustainability Isn't Enough,” IBM Institute for Business Value, 2022.


Topics: 
Master Data Management Blog by Stibo Systems logo

Driving growth for customers with trusted, rich, complete, curated data, Matt has over 20 years of experience in enterprise software with the world’s leading data management companies and is a qualified marketer within pragmatic product marketing. He is a highly experienced professional in customer information management, enterprise data quality, multidomain master data management and data governance & compliance.

Discover Blogs by Topic

  • MDM strategy
  • Data governance
  • Customer and party data
  • See more
  • Retail and distribution
  • Manufacturing
  • Data quality
  • Supplier data
  • Product data and PIM
  • AI and machine learning
  • CPG
  • Financial services
  • GDPR
  • Sustainability
  • Location data
  • PDX Syndication

Navigating Change: Engaging Business Users in Successful Change Management

9/20/24

What is Digital Asset Management?

9/11/24

How to Improve Your Data Management

9/3/24

The Future of Master Data Management: Trends in 2023-2025

9/1/24

Digital Transformation in the CPG Industry

8/30/24

5 CPG Industry Trends and Opportunities for 2024-2025

8/29/24

What is the difference between CPG and FMCG?

8/27/24

Responsible AI relies on data governance

8/27/24

6 Features of an Effective Master Data Management Solution

8/15/24

Great Data Minds: The Unsung Heros Behind Effective Data Management

8/13/24

A Data Monetization Strategy - Get More Value from Your Master Data

8/6/24

Introducing the Master Data Management Maturity Model

8/4/24

What is Augmented Data Management? (ADM)

7/31/24

Data Migration to SAP S/4HANA ERP - The Fast and Safe Approach with MDM

7/30/24

Data Governance and Data Protection: A Match Made in Heaven?

7/17/24

The Difference Between Master Data and Metadata

5/26/24

Master Data Management Roles and Responsibilities

5/20/24

8 Best Practices for Customer Master Data Management

5/16/24

What Is Master Data Governance – And Why Do You Need It?

5/12/24

Guide: Deliver flawless rich content experiences with master data governance

4/11/24

Risks of Using LLMs in Your Business – What Does OWASP Have to Say?

4/10/24

Guide: How to comply with industry standards using master data governance

4/9/24

Digital Product Passports - A Data Management Challenge

4/8/24

Guide: Get enterprise data enrichment right with master data governance

4/2/24

Guide: Getting enterprise data modelling right with master data governance

4/2/24

Guide: Improving your data quality with master data governance

4/2/24

Data Governance Trends 2024

1/30/24

NRF 2024 Recap: In the AI era, better data can make all the difference

1/19/24

Building Supply Chain Resilience: Strategies & Examples

12/19/23

How Master Data Management Can Enhance Your ERP Solution

12/14/23

Shedding Light on Climate Accountability and Traceability in Retail

11/29/23

What is Smart Manufacturing and Why Does it Matter?

10/11/23

Future Proof Your Retail Business with Composable Commerce

10/9/23

5 Common Reasons Why Manufacturers Fail at Digital Transformation

10/5/23

How to Digitally Transform a Restaurant Chain

9/29/23

Three Benefits of Moving to Headless Commerce and the Role of a Modern PIM

9/14/23

12 Steps to a Successful Omnichannel and Unified Commerce

7/6/23

CGF Global Summit 2023: Unlock Sustainable Growth With Collaboration and Innovation

7/5/23

Navigating the Current Challenges of Supply Chain Management

6/28/23

Product Data Management during Mergers and Acquisitions

4/6/23

A Complete Master Data Management Glossary

3/14/23

4 Ways to Reduce Ecommerce Returns

3/8/23

Asset Data Governance is Central for Asset Management

3/1/23

4 Common Master Data Management Implementation Styles

2/21/23

How to Leverage Internet of Things with Master Data Management

2/14/23

Manufacturing Trends and Insights in 2023-2025

2/14/23

Sustainability in Retail Needs Governed Data

2/13/23

NRF 2023: Retail Turns to AI and Automation to Increase Efficiencies

1/20/23

5 Key Manufacturing Challenges in 2023

1/16/23

What is a Golden Customer Record in Master Data Management?

1/9/23

Innovation in Retail

1/4/23

Life Cycle Assessment Scoring for Food Products

11/21/22

Retail of the Future

11/14/22

Omnichannel Strategies for Retail

11/7/22

Hyper-Personalized Customer Experiences Need Multidomain MDM

11/5/22

What is Omnichannel Retailing and What is the Role of Data Management?

10/25/22

Most Common ISO Standards in the Manufacturing Industry

10/18/22

How to Get Started with Master Data Management: 5 Steps to Consider

10/17/22

What is Supply Chain Analytics and Why It's Important

10/12/22

What is Data Quality and Why It's Important

10/12/22

An Introductory Guide: What is Data Intelligence?

10/1/22

Revolutionizing Manufacturing: 5 Must-Have SaaS Systems for Success

9/15/22

An Introductory Guide to Supplier Compliance

9/7/22

What is Application Data Management and How Does It Differ From MDM?

8/29/22

Digital Transformation in the Manufacturing Industry

8/25/22

Master Data Management Framework: Get Set for Success

8/17/22

Discover the Value of Your Data: Master Data Management KPIs & Metrics

8/15/22

Supplier Self-Service: Everything You Need to Know

6/15/22

Omnichannel vs. Multichannel: What’s the Difference?

6/14/22

Create a Culture of Data Transparency - Begin with a Solid Foundation

6/10/22

The 5 Biggest Retail Trends for 2023-2025

5/31/22

What is a Location Intelligence?

5/31/22

Omnichannel Customer Experience: The Ultimate Guide

5/30/22

Location Analytics – All You Need to Know

5/26/22

Omnichannel Commerce: Creating a Seamless Shopping Experience

5/24/22

Top 4 Data Management Trends in the Insurance Industry

5/11/22

What is Supply Chain Visibility and Why It's Important

5/1/22

The Ultimate Guide to Data Transparency

4/21/22

How Manufacturers Can Shift to Product-as-a-Service Offerings

4/20/22

How to Check Your Enterprise Data Foundation

4/16/22

An Introductory Guide to Manufacturing Compliance

4/14/22

Multidomain MDM vs. Multiple Domain MDM

3/31/22

Making Master Data Accessible: What is Data as a Service (DaaS)?

3/29/22

How to Build a Successful Data Governance Strategy

3/23/22

What is Unified Commerce? Key Advantages & Best Practices

3/22/22

How to Choose the Right Data Quality Tool?

3/22/22

What is a data domain? Meaning & examples

3/21/22

6 Best Practices for Data Governance

3/17/22

5 Advantages of a Master Data Management System

3/16/22

A Unified Customer View: What Is It and Why You Need It

3/9/22

Supply Chain Challenges in the CPG Industry

2/24/22

The Best Data Governance Tools You Need to Know About

2/17/22

Top 5 Most Common Data Quality Issues

2/14/22

What Is Synthetic Data and Why It Needs Master Data Management

2/10/22

What is Cloud Master Data Management?

2/8/22

How to Implement Data Governance

2/7/22

Build vs. Buy Master Data Management Software

1/28/22

Why is Data Governance Important?

1/27/22

Five Reasons Your Data Governance Initiative Could Fail

1/24/22

How to Turn Your Data Silos Into Zones of Insight

1/21/22

How to Improve Supplier Experience Management

1/16/22

​​How to Improve Supplier Onboarding

1/16/22

How to Enable a Single Source of Truth with Master Data Management

1/13/22

What is a Data Quality Framework?

1/11/22

How to Measure the ROI of Master Data Management

1/11/22

What is Manufacturing-as-a-Service (MaaS)?

1/7/22

The Ultimate Guide to Building a Data Governance Framework

1/4/22

Master Data Management Tools - and Why You Need Them

12/20/21

The Dynamic Duo of Data Security and Data Governance

12/20/21

How to Choose the Right Supplier Management Solution

12/20/21

How Data Transparency Enables Sustainable Retailing

12/6/21

What is Supplier Performance Management?

12/1/21

What is Party Data? All You Need to Know About Party Data Management

11/28/21

What is Data Compliance? An Introductory Guide

11/18/21

How to Create a Marketing Center of Excellence

11/14/21

The Complete Guide: How to Get a 360° Customer View

11/7/21

How Location Data Adds Value to Master Data Projects

10/29/21

How Marketers Should Prepare for the 2023 Holiday Shopping Season

10/26/21

What is Supplier Lifecycle Management?

10/19/21

What is a Data Mesh? A Simple Introduction

10/15/21

How to Build a Master Data Management Strategy

9/26/21

10 Signs You Need a Master Data Management Platform

9/2/21

What Vendor Data Is and Why It Matters to Manufacturers

8/31/21

3 Reasons High-Quality Supplier Data Can Benefit Any Organization

8/25/21

4 Trends in the Automotive Industry

8/11/21

What is Reference Data and Reference Data Management?

8/9/21

What Obstacles Are Impacting the Global Retail Recovery?

8/2/21

GDPR as a Catalyst for Effective Data Governance

7/25/21

All You Need to Know About Supplier Information Management

7/21/21

5 Tips for Driving a Centralized Data Management Strategy

7/3/21

Welcome to the Decade of Transparency

5/26/21

How to Become a Customer-Obsessed Brand

5/12/21

How to Create a Master Data Management Roadmap in Five Steps

4/27/21

What is a Data Catalog? Definition and Benefits

4/13/21

How to Improve the Retail Customer Experience with Data Management

4/8/21

How to Choose the Right Master Data Management Solution

3/29/21

Business Intelligence and Analytics: What's the Difference?

3/25/21

Spending too much on Big Data? Try Small Data and MDM

3/24/21

What is a Data Lake? Everything You Need to Know

3/21/21

How to Extract More Value from Your Data

3/17/21

Are you making decisions based on bad HCO/HCP information?

2/24/21

Why Master Data Cleansing is Important to CPG Brands

1/20/21

CRM 2.0 – It All Starts With Master Data Management

12/19/20

5 Trends in Telecom that Rely on Transparency of Master Data

12/15/20

10 Data Management Trends in Financial Services

11/19/20

Seasonal Marketing Campaigns: What Is It and Why Is It Important?

11/8/20

What Is a Data Fabric and Why Do You Need It?

10/29/20

Transparent Product Information in Pharmaceutical Manufacturing

10/14/20

How to Improve Back-End Systems Using Master Data Management

9/19/20

8 Benefits of Transparent Product Information for Medical Devices

9/1/20

How Retailers Can Increase Online Sales in 2023

8/23/20

Master Data Management (MDM) & Big Data

8/14/20

Key Benefits of Knowing Your Customers

8/9/20

Women in Master Data: Kelly Amavisca, Ferguson

8/5/20

Customer Data in Corporate Banking Reveal New Opportunities

7/21/20

How to Analyze Customer Data With Customer Master Data Management

7/21/20

How to Improve Your 2023 Black Friday Sales in 5 Steps

7/18/20

4 Ways Product Information Management (PIM) Improves the Customer Experience

7/18/20

How to Estimate the ROI of Your Customer Data

7/1/20

Women in Master Data: Rebecca Chamberlain, M&S

6/24/20

How to Personalise Insurance Solutions with MDM

6/17/20

How to Democratize Your Data

6/3/20

How to Get Buy-In for a Master Data Management Solution

5/25/20

How CPG Brands Manage the Impact of Covid-19 in a Post-Pandemic World

5/18/20

5 Steps to Improve Your Data Syndication

5/7/20

Marketing Data Quality: Why Is It Important and How to Get Started

3/26/20

Panic Buying: Navigating Long-term Implications and Uncertainty

3/24/20

Women in Master Data: Ditte Brix, IMPACT

2/20/20

Get More Value From Your CRM With Customer Master Data Management

2/17/20

Women in Master Data: Nagashree Devadas, Stibo Systems

2/4/20

How to Create Direct-to-Consumer (D2C) Success for CPG Brands

1/3/20

Women in Master Data: Anna Schéle, Ahlsell

10/25/19

Women in Master Data: Morgan Lawrence, Infoverity

9/26/19

Women in Master Data: Sara Friberg, Acando (Part of CGI)

9/13/19

Improving Product Setup Processes Enhances Superior Experiences

8/21/19

How to Improve Your Product's Time to Market With PDX Syndication

7/18/19

8 Tips For Pricing Automation In The Aftermarket

6/1/19

How to Drive Innovation With Master Data Management

3/15/19

Discover PDX Syndication to Launch New Products with Speed

2/27/19

How to Benefit from Product Data Management

2/20/19

What is a Product Backlog and How to Avoid It

2/13/19

How to Get Rid of Customer Duplicates

2/7/19

4 Types of IT Systems That Should Be Sunsetted

1/3/19

How to Use Customer Data Modeling

11/15/18

How to Reduce Time-to-Market with Master Data Management

10/28/18

How to Start Taking Advantage of Your Data

9/12/18

6 Signs You Have a Potential GDPR Problem

8/16/18

GDPR: The DOs and DON’Ts of Personal Data

6/13/18

How Master Data Management Supports Data Security

6/7/18

Frequently Asked Questions (FAQ) About the GDPR

5/30/18

Understanding the Role of a Chief Data Officer

4/26/18

3 Steps: How to Plan, Execute and Evaluate Any IoT Initiative

2/20/18

How to Benefit From Customer-Centric Data Management

9/7/17

3 Ways to Faster Innovation with Multidomain Master Data Management

6/7/17

Product Information Management Trends to Consider

5/25/17

4 Major GDPR Challenges and How to Solve Them

5/12/17

How to Prepare for GDPR in Five Steps

2/21/17

How Data Can Help Fight Counterfeit Pharmaceuticals

1/24/17

Create the Best Customer Experience with a Customer Data Platform

1/11/17