Top 3 Consumer Industries Takeaways from SAPPHIRE NOW Reimagined 2020

Top 3 Consumer Industries Takeaways from SAPPHIRE NOW Reimagined 2020 featured image

At SAP’s virtual SAPPHIRE NOW Reimagined 2020 last week, SAP discussed building smarter businesses enabled by intelligent technology stacks. Smarter systems and processes have been particularly crucial in Consumer Industries, as the COVID-19 pandemic has emphasized the importance for companies to be resilient and agile. To recap SAPPHIRE NOW Reimagined 2020, Rizing brought together five leaders from our various lines of business for a live discussion on the messaging from the eventRizing Consumer Industries Senior Vice President Brian Cederborg discussed the importance of Consumer Industries and how SAP’s messaging brought some welcome news for companies looking to be more sustainable, adaptable, and intelligent. 

Here are the panel’s top Consumer Industries takeaways from SAPPHIRE NOW 2020:

SAP is Back to Emphasizing Industries

SAP has historically been strong in industry verticals, but in recent years had focused on a broader product set. At SAPPHIRE NOW 2020, the vendor brought the focus back to industry-specific offerings.  

Our customers are asking for software that is designed for their specific industry needs, so this refocus is welcome news. On the topic, one of the announcements from the event was around SAP Industry Cloud, which allows customers to buy industry-specific cloud suites.  

SAP Industry Cloud offerings will be made up of SAP and partner products. SAP has made it easier for products to build powerful tools with the SAP Cloud Platform, and tools like Rizing LifeCycle Pricing.  

A Smarter Supply Chain

As Richard Howells, SAP VP of Solution Management for Digital Supply Chain, wrote, “Industry 4.0 started with smart manufacturing, but it is much more than that.”   

Industry 4.0 now extends to the supply chain, and that was a key topic of focus for SAP during SAPPHIRE NOW. This shift is particularly relevant in Consumer Industries, where intelligent factories can lead to more efficient production and a more reliable supply chain. Giving employees throughout the supply chain access to smart technologies, such as AI and Machine Learning embedded within SAP products, creates more informed decision-making.  

SAP also introduced a strategy around a “Unified Business Network,” which looks to build resilient supply chains by combining the power of SAP multiple business networks—Ariba, Asset Intelligence Network, SAP Logistics Business Network, and SAP Fieldglass. And what is the benefit of combining the supply chains with the business networks? 

Intelligent Enterprise Helps Companies Adapt

The COVID-19 pandemic created a massive challenge for Consumer Industries—a vertical that supplies many of the essential services we all need. These are places like grocery stores and pharmacies that cannot close. The companies that were best equipped to handle the pandemic had already begun evolving their processes and technology stack to be more intelligent.   

SAP’s mantra since SAPPHIRE NOW in 2018 has been the Intelligent Enterprise, and that messaging continued at SAPPHIRE NOW 2020. Part of the journey to an Intelligent Enterprise is optimizing existing business processes with intelligent technology (Digital Assistants, IoT, machine learning, etc.).  

These intelligent technologies help organizations make better decisions. In Consumer Industries, that can mean something like bringing healthier food into people’s homes with more efficient and safe delivery and pickup options. 

As we covered on our HCM blog, intelligent technology can also help companies in Consumer Industries adapt to new staffing realities—keeping employees safe while also potentially discovering new areas where their skillsets can be utilized  

There was plenty more to discuss on Intelligent Enterprise and all the key topics from SAPPHIRE NOW 2020, so be sure to check out our complete video recap: