Understanding the Critical Factors to Achieving Marketing Supply Chain Operational Effectiveness & Optimization
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- Elisabeth Heath
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1 Understanding the Critical Factors to Achieving Marketing Supply Chain Operational Effectiveness & Optimization Sponsored by BPI NETWORK
2 T here is an epidemic that threatens the optimized Marketing Supply Chain. As Marketers seek to provide the most timely, fresh and of-the-moment content to customers and channel alike, old, over-ordered or un-utilized materials tend to be stored, destroyed or ignored, left to sit an occupy costly space in offices to warehouses. High levels of waste can generally be attributed to limited access to material utilization, a lack of visibility into the operational process, and a general lack of forecasting and operational rigor. All of these factors combine to create an epidemic of waste that can be summed up most accurately as Obsolescence. All marketers, at some point in their career have made a contribution to this obsolescence epidemic. In fact, nearly 70 percent of the 125 marketers participating in the More Haste to Reduce Waste online audit admit to, at some point, stashing under-utilized, unwanted, out of date, or over-ordered materials into storage facilities that can range from a closet to a warehouse. Obsolescence is not a single excessive order or single pile of un-used collateral not the issue. The pile is merely the visible symptom. In fact, it is what cannot be seen of what is behind the scenes and invisible that makes an indelible impact on marketing effectiveness and can derail, detract or damage the customer experience. The shelf life of marketing consumables and promotional materials has never been shorter or more challenging to manage. Marketers are spending billions of dollars producing, warehousing and shipping marketing literature, packaging, documentation, point-of-sale displays, premiums, giveaways, signage and hand outs for all channels of market contact and engagement. How well this portion of Marketing Operations is managed and controlled can materially impact go-to-market effectiveness, as well as the optimal use of marketing dollars in creating business value and competitive advantage. In the Marketing Supply Chain Institute report Define Where To Streamline, marketers acknowledged that marketing operations lacked the rigor and assessment required to identify key areas of operational efficiency and effectiveness. Far too often, marketers have left the optimization of Marketing Supply Chain Operations to other departments including procurement, finance and warehousing. According to this new research, while investment in traditional marketing channels has been decreasing over the past few years, marketing consumables still make up a significant portion of the marketing mix. In light of this heady investment, it would seem appropriate for marketing to be deeply engaged with deep financial analytics and forecasting. Yet, 33 percent of respondents claim to not have any form of forecasting or inventory management of materials, instead relying on instinct, past orders, or guessing to order when materials are needed. As one marketer who participated in the audit said, orders are made a certain way because that is just how it s been done. Another aspect of this business as usual approach to Marketing Supply Chain Operations is the all too common practice of rush ordering materials, a practice that results in higher shipping, handling and premium service charges. Yet this is really no surprise that marketers must over-invest in replenishment, as 55 percent of marketers do not have any real-time access to marketing consumable inventory or utilization levels. And, among that group, only 10 percent are looking to bring in some form of solution that can provide this critical visibility and access. Yet all too often, this waste is going unchecked and unmanaged as only 27 percent of respondents have a system in place that tracks marketing waste. Tracking alone cannot solve this problem as 58 percent of marketers who do track waste estimate that they have obsolescence rates between 10 and 30 percent. Industry leading practices, developed over years of mapping and tracking the optimized Marketing Supply Chain, points to a target rate of no more than eight percent obsolescence. 2
3 The Ramifications of Marketing Supply Chain Inefficiency There are two key aspects to investigate while discussing impact of obsolescence: the impact on budget and the impact on experience. One of the greatest risks to the marketer s agenda is that obsolescence has a direct impact on go-to-market effectiveness. 42 percent of respondents agree that the delivery of fresh content is absolutely critical to their strategy, with content hitting customer or prospect hands being the most up to date product and company information. An additional 40 percent believe that the content is important at launch, but then becomes an ever-changing and evolving product as time moves on, necessitating flexibility within the process to be able to update and adjust on the fly. Even as marketers admit to the criticality of content, 51 percent also admit to having sent out old materials containing out of date content. Why you may ask? For a small few, warehousing error (2 percent) can be blamed. And an additional 61 percent can point to their printer/agency/creative for not having the materials ready in time for launch. It is the 23 percent of marketers who simply did not know that the old material was sent that is the concern. Are these marketers not interested in this point of the experience and engagement? Or could it be more likely that regardless of their desire to have this level of visibility, it is simply not available? As one frustrated marketer added, the waste was thanks to the marketer who held my position before me. He goes on to add that, the company didn t want to waste the materials, so before I could order new, fresh and relevant material, we had to use every last piece of the old, outdated brochures. At risk is the customer experience and a marketer s ability to effectively present a unified customer experience that promotes loyalty and activates advocacy. Disconnection and customer defection can be instigated from a single negative customer experience. So imagine the reaction to receiving out of date or incorrect materials, receiving materials with incorrect pricing, conflicting brand messaging or obsolete product information. To be sure, defection and disconnected are worst-case scenarios, but marketers agree that the delivery of an optimized customer experience is a critical competitive differentiator in today s tough marketplace. Also evident is that attention and a strategy to reduce waste will also impact the bottom line as wasted investments and lost opportunities will also be addressed. As rates of obsolescence rise, so rise costs including many unseen by marketing including warehousing, transportation and cash tied to under utilized materials. Obsolescence is also the very real manifestation of budget that should have been deployed in other programs. Rather than investing in materials that eventually fail to land in the hands of the intended audience be it customer, prospect, investor or company employee these lost dollars can be redeployed into rich, demand generation or retention strategies that move the business needle. Waiting for a Priority Shift The question still remains that if content is king, and if content is constantly updating and changing to deliver the most relevant and timely information to customers, why are marketers not apply more rigor to managing the flow of these critical consumables within the supply chain? It seems to be a rather logical adjustment and area of focus that will speed marketing effectiveness and reveal budget that can help meet the management mandate to drive opportunity and growth. However, there are still companies who are finding transformation to be a challenge. Most simply do not view the reduction of obsolescence is not a key priority (50 percent). As one marketer stated, Waste 3
4 is just taboo and a can of worms left behind over several people. To open it holds little reward and no compensation, so there is little motivation to start down this road. For others, the challenge boils down to talent and expertise as 27 percent of respondents lack the internal resources or technology to accurately audit and track Marketing Supply Chain operations. Other marketers are facing siloed functional groups that make aggregating a holistic view of the supply chain difficult, if not impossible. Yet transformation is on the minds of savvy marketers dedicated to operational efficiency and effectiveness. Additionally, there are very real strategies and opportunities to engage that can work to streamline the Marketing Supply Chain. Obliterating Obsolescence The opportunity lies with marketers to transform the Marketing Supply Chain operations and make significant strides to reduce obsolescence and in turn, redeploy budget that was once wasted on these out of date materials. Leverage digital printing strategies including Print On Demand (POD): Digital printing technology has come of age, enabling economic production of low print quantities (or in other words, orders of less than 100 units). Lower production quantities result in a lower total cost of ownership by reducing capital investment in inventory, storage charges, and waste. A Print On Demand (POD) strategy can further reduce costs by eliminating inventory, storage, and in-bound freight costs. POD also enables more current and customizable content through the application of Web-to-Print and variable data printing, allowing marketers to send personalized messages with up-to-date content, without fear of wasted material with out of date of off-strategy messages being stockpiled in inventory. Furthermore, a Print on Demand strategy enables tighter measurement and management of the print production process, which until now, had been managed by printers, agencies or even procurement, giving marketers an always-on, real time level of visibility into a once closed-door process. Cross-Functional Collaboration: Marketers are looking to work more closely with cross functional teams in finance, sales, procurement, warehousing and operations to better forecast and eliminate over ordering. Far too many marketers indicate that orders tend to revolve around per piece orders or on unknown utilization levels. Through collaboration across various functional areas, marketing will be able to better forecast, monitor and manage Marketing Supply Chain operations. As one marketer lamented, there is little to no control over what a field sales or marketing representative hands out, and we simply don t know what is sitting in their trunk, so managing that delivery of old materials could be a full-time policing job. The solution lies in working across the enterprise to add a layer of accountability and visibility into content utilization to determine the Content ROI and better quantifying and identifying where additional investments and orders should be made, and which materials should be benched. Go-Green to Gain-Green: When it comes to the reduction of obsolescence, the more impact made on waste reduction, the greater the green-gains. Obsolescence creates a very real environmental impact that goes beyond paper. Excessive ordering and a lack of process, visibility and measurement in the Marketing Supply Chain often necessitates rush ordering, additional shipping, handling and logistical demands that all impact emissions, natural resources and carbon footprint. By applying a clear strategy that is focused on reducing obsolescence, marketers can transform the Marketing Supply Chain into a greener operation that optimizes spend and operates as a global green steward. 4
5 Bringing in the Big Marketing Supply Chain Brains: Marketers are sensing that to truly affect change, they must turn to experts and third party resources who are better equipped to identify key areas of needs and transformation. As noted in the Define Where to Streamline research, less than one quarter of marketers have undergone a comprehensive audit of their Marketing Supply Chain. As customer experience and budget are on the line, and as more marketers are becoming attune to the money being left on the table because of a poorly managed and constructed Marketing Supply Chain, experts who can apply leading practices and measures to help optimize operations have become essential to transformation. Marketers must begin to look at these individual symptoms of inefficiency with the Marketing Supply Chain in order to optimize budget allocation, operational management and even the delivery of customer experience. Obsolescence is one of the most serious challenges to Marketing Operations as it looks to undermine budget and operations. The good news is that a streamlined Marketing Supply Chain is possible. The challenge is that in these critical times where customer engagement is top of mindand budgets are restricting how far and wide programs can potentially reach. Waste and unchecked obsolescence are no longer issues left to other departments or hidden in a marketing closet. 5
6 Detailed Findings Q1. What promotional materials and marketing consumables do you produce? 84% 7 66% 57% 5 54% 39% 29% 26% % 14% 1 Print collateral Presentations Folders and hand-outs Direct mail Product documentation Signage Multimedia products Premiums P-O-S display Packaging and inserts Demo software Samples Print coupons Other Q2. How much of your marketing budget is spent on marketing consumables, including packaging, literature, promotional items, signage, exhibits, or point-of-sale materials? 9% 7% % 2 More than Less than 1 6
7 Q3. How do you forecast the utilization of these items and materials? % 6% We do not forecast or manage inventory of materials we order what we need when we need it Organization-wide forecasts based on current and anticipated usage Material requests from field sales, marketing or channel groups Orders to replenish made automatically based on inventory, not usage forecast Don t know Monthly estimates from procurement and operating teams Other Q4. Do you have real-time access to inventory or utilization of materials in your Marketing Supply Chain? 1 Yes 4 44% No No, but investigating how to gain visibility 7
8 Q5. Do you ever have to rush order/reorder materials or merchandise? 28% Yes No 68% Don t know Q6. Do you have a marketing closet or warehouse area where old materials, collateral, trade show items, etc. are stored and possibly forgotten? 28% 7 Yes No Don t know 8
9 Q7. Do you track marketing material waste? 27% Yes No 7 Q8. If you answered Yes, please provide the percentage of waste you estimate you encounter in your Marketing Supply Chain: 7% 28% 3 3 More than Less than 1 9
10 Q9. How important is the delivery of fresh content to your go-to-market strategy? 4 4 9% Critical our materials must reflect the most up to date product and company information Important at launch, but ever-changing and evolving as time goes on A struggle to keep pace with demand for new information and new content Content rarely changes and is timeless Irrelevant as sales and channel groups develop their own materials with no connection to marketing collateral Other Q10. Have you ever sent out materials with old or outdated content? 8% Yes 41% 51% No Don t know Q11. If you answered yes, what was the reason for the out of date material being included? % New materials were not ready in time We did not know old materials were included until it was brought to our attention Warehouse or packing error Other 10
11 Q12. How are you transforming your marketing supply chain to reduce waste and eliminate out-of-date materials? % 1 1 6% Leveraging Print-On-Demand solutions and strategies Transitioning all materials to digital or online content Working closely with operations, procurement and finance to eliminate redundancy or over-purchasing Scaling back on-hand inventory to better meet demand Eliminating print materials and physical promotional materials Outsourcing our procurement and warehousing operations to better track usage and utilization Eliminating materials with low levels of utilization Managing creative to optimize print sizes, media and materials Aggregating requirements and needs to negotiate better prices and streamline procurement processes Changing materials to use only environmental or eco-conscious materials 8% Other 11
12 Q13. What are the key challenges or constraints to eliminating waste and obsolescence in your supply chain operations? (Check All That Apply) 5 27% 26% 26% 21% 17% 9% 7% 7% Not a key priority to the overall marketing operational function Lack the internal technology or resources to accurately audit and track marketing supply chain operations No ability to see real-time reports and measurements on waste and material use Siloed areas of responsibility make it difficult to gather all pieces of information needed to streamline operations Lack of internal staff and talent to best track and optimize marketing supply chain operations No senior mandate for greater yield and accountability in the supply chain Little support from finance and operational stakeholders Not marketing s responsibility Unclear how and where improvements can be made Don t know where to start as we have not audited the entire supply chain The agency manages all development and ordering of materials with little direct input other than desired cost per unit Q14. What is your title? 1 16% 1 19% 7% 2 CMO Managing Director of Head of Marketing SVP/EVP of Marketing, Marketing Operations, or Marketing Communications VP of Marketing, Marketing Operations or Marketing Communications Director of Marketing, Marketing Operations or Marketing Communications Manager of Marketing, Marketing Operations or Marketing Communications VP of Procurement, Operations or Supply Chain Director of Procurement, Operations or Supply Chain Other 12
13 Q15. What best describes your company s industry sector? 18% Professional Services Wholsale/Distribution 17% Information Technology 1% Automotive 1 Computer Software 1% Construction 7% Financial Services 1% Education Media & Publishing 1% Online/Internet 4% Consumer Electronics 1% Sports & Entertainment 4% Consumer Packaged Goods 1% Travel & Hospitality 4% Health & Life Sciences Chemicals 4% Retail Consumer Health, Beauty & Lifestyle Computer Hardware Energy Manufacturing Government Aerospace & Defense Transportation & Logistics Food & Beverage Utilities Insurance 8% Other Telecommunications Q16. How large is your company? (By revenue in USD) % 1 Less than $10 million $10 million to $50 million $51 million to $100 million $101 million to $250 million $251 million to $500 million $501 million to $750 million $751 million to $1 billion $1.1 billion to $5 billion Greater than $5 billion 13
14 The Chief Marketing Officer (CMO) Council is dedicated to high-level knowledge exchange, thought leadership and personal relationship building among senior corporate marketing leaders and brand decision-makers across a wide range of global industries. The CMO Council s 5,500 members control more than $200 billion in aggregated annual marketing expenditures and run complex, distributed marketing and sales operations worldwide. In total, the CMO Council and its strategic interest communities include over 12,000 global executives across 100 countries in multiple industries, segments and markets. Regional chapters and advisory boards are active in the Americas, Europe, Asia Pacific, Middle East and Africa. The Council s strategic interest groups include the Coalition to Leverage and Optimize Sales Effectiveness (CLOSE), Marketing Supply Chain Institute, Customer Experience Board, LoyaltyLeaders.org, Online Marketing Performance Institute, and the Forum to Advance the Mobile Experience (FAME). BPI NETWORK The Business Performance Innovation (BPI) Network is an influential group of senior-level executives driving transformation, process re-invention, organizational innovation, lean operation, and competitive adaptability in multi-national enterprises worldwide. Members of this change-centered affinity network represent companies with combined annual revenues of more than $1 trillion. The aim is to share thinking and advance best practices in how enterprises can "transform to better perform" as they seek to tap more complex, cost-sensitive, growth markets with large, diverse and evolving consumer and infrastructure needs. More information is available at: Sponsored By NVISION is a division of North American Corporation (NA.com), a leading Marketing Supply Chain solutions provider, helping organizations outsource the operations of their Marketing Supply Chain. By leveraging North America s leading marketing supply chain consultancy practice, NVISION streamlines and manages print, promotional products and point of sale material for corporate clients utilizing our proprietary sourcing technology and supply chain expertise. Over the past five years, NVISION has saved over $50 million, an average of 2 in Marketing Supply Chain costs, for Fortune 500 corporations. 14
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