Create a structured and comprehensive product portfolio that helps in decision-making and strategic planning.
Create product family with a hierarchy of product lines, product models and variants aligned to your product portfolio strategy.
Work with various teams in realtime to ideate, conceptualise and prototype on new product models and variants.
Define New product development requirements through concrete specifications and guidelines. Model target product profile with critical quantitative and qualitative properties.
Generate product specifications, technical and safety data sheets for effortless communication and collaborations across teams and third-parties.
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Create multiple variants for same product models with variant level specification and customisation. Swiftly create or clone variants from existing product models for rapid prototyping and sampling.
Standardise product models and variants and coordinate portfolio development process across the organisation. Control costs, poor planning of multiple variants can lead to increased costs due to the need for different materials, changeovers in production, and multiple production runs.
Analyse multiple product variants across product family, compare multiple product variants side-by-side.
Analyse changes on product specifications, compare different versions of specifications, and trace items matching to the specifications.
Track and trace the associated variants, specifications, documents and formulas to materials. Perform change and impact analysis.
Foster cross-functional collaboration and align teams with clearly defined product portfolio, and reinforced with organisation level product strategy.
Gain insights on when to invest in new product development, when to expand into new markets, or when to phase out products.
Focus on aligning research and new product development with what the market needs and what fits well in your product range, to increase the chances of commercial success.
Make decisions on research investments by organising and prioritising products within each product category.
Track and manage regulatory requirements across the product portfolio, ensuring compliance and timely submissions to regulatory bodies.
Create delicious recipes, nutritious formulations, and safe products.
Ensure that recipes are accurately followed and that ingredients meet strict quality standards.
Maintain consumer satisfaction and complying with regulatory requirements
For pharmaceutical companies, formula management is paramount in developing and manufacturing effective medications.
It involves carefully managing the composition of drugs to ensure precise dosages and consistent delivery of active pharmaceutical ingredients (APIs).
This is essential for patient safety and the efficacy of treatments.
In the chemical industry, formula management is crucial for producing a wide range of chemicals, coatings, adhesives, and other products.
It involves accurately mixing different chemicals to achieve desired properties, such as strength, durability, and performance.
This ensures that chemical products meet industry standards and customer specifications.
The cosmetics and personal care industry relies on formula management to create safe and effective beauty and skincare products.
It involves carefully selecting and controlling the composition of ingredients like oils, fragrances, emollients, and preservatives to avoid skin irritations and allergic reactions.
This is essential for maintaining consumer confidence and brand reputation.
Formula management is crucial in the development of nutraceutical products, such as dietary supplements and functional foods.
It ensures that precise formulations are achieved to deliver the intended nutritional and health benefits.
This is essential for product efficacy and consumer trust.
Beyond specific industries, formula management is also applicable to any manufacturing or production company that creates products with a defined recipe or formulation.
This can include items like paints, inks, and industrial chemicals.
Formula management ensures that products are consistently manufactured to meet quality standards and customer expectations.
Read helpful articles on trends, tips, and ideas for the F&B, cosmetics, chemical, and pharma industries to help your business grow.
