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From Procurement to Packaging: 4 Ways Specification Management Supports Your Beauty Brand

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June 10, 2020
6.10.20
Wednesday
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Growth in the beauty industry often results in acquisitions or otherwise expanding operations into multiple locations. However, it’s still essential for a fragmented structure to maintain a common language to the same degree of centralized organizations.

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Bringing together leaders in industry and technology to drive innovation.
Matthew Wright
Founder & CEO
About Matthew
Matthew Wright is the founder & CEO of Specright, the first cloud-based platform for Specification Management. Specright has been recognized as a Gartner Cool Vendor, received the Salesforce Innovation Award and was named one of the Top Places to Work by the OC Register and Built in LA. Wright is also a published author and his book, “The Evolution of Products and Packaging,”was named to the Amazon Hot New Release List for Industrial Relations Business and has a five star rating.

Prior to founding Specright, Wright spent more than 25 years in the packaging industry, holding leadership positions at International Paper, Temple Inland, and rightPAQ — a packaging company he co-founded. He has also been involved in leading multiple M&A deals in the packaging industry and sits on the Packaging Advisory Board at Cal-Poly San Luis Obispo.
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From Procurement to Packaging: 4 Ways Specification Management Supports Your Beauty Brand

Growth in the beauty industry often results in acquisitions or otherwise expanding operations into multiple locations. However, it’s still essential for a fragmented structure to maintain a common language to the same degree of centralized organizations.

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Blog

From Procurement to Packaging: 4 Ways Specification Management Supports Your Beauty Brand

Growth in the beauty industry often results in acquisitions or otherwise expanding operations into multiple locations. However, it’s still essential for a fragmented structure to maintain a common language to the same degree of centralized organizations.

Posted on 
June 10, 2020
6.10.2020
Wednesday
Tom Preston
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Download Presentation
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Growth in the beauty industry often results in acquisitions or otherwise expanding operations into multiple locations. However, it’s still essential for a fragmented structure to maintain a common language to the same degree of centralized organizations.

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In an industry worth $532 billion, beauty companies have plenty of incentive to build a strong brand. In fact, one Nielsen study found that nearly 60 percent of all consumers prefer to buy products from brands with which they’re familiar. Companies can build this familiarity through their marketing, packaging, messaging, and product quality.In a sizable industry like beauty, building a brand that stands out for all the right reasons takes into account the entire DNA of your product, from packaging to procurement. Let’s take a look at some ways that Specification Data Management™ can support initiatives to build and grow a strong beauty brand.

Provide a Single Source of Truth for Decentralized Organizations

Growth in the beauty industry often results in acquisitions or otherwise expanding operations into multiple locations. However, it’s still essential for a fragmented structure to maintain a common language to the same degree of centralized organizations.Establishing cooperation between multiple company locations is critical in maintaining brand cohesion. Each employee should embrace and uphold the same brand values, mission, and objectives, which is more easily accomplished when teams can pull from a single source of truth within the organization. Specification Management software allows companies to standardize the format of product specifications to help to create this common language and eliminate gaps in communication.

Identify Supportive Supply Chain Partnerships

A Specification Management platform allows a company to take a granular look at every aspect of the supply chain, including vendors, for every ingredient in your beauty products. As more consumers are calling for transparency from beauty companies, it’s essential to review your supply chain partners and identify how they fit in with your brand values. For example, beauty companies that place a higher emphasis on eco-friendliness and sustainability can review their ingredients and packaging specs and each supplier to make impactful swaps. In addition, companies may find new opportunities to work with vendors who share their values and can better support their brand image. Retailers like Sephora are also creating criteria for “Clean Beauty” that help consumers easily locate brands that are formulated without certain ingredients.

Develop Packaging that Reflects Your Brand Voice

Surprisingly, 72 percent of consumers claim that packaging plays an important role in their buying decision, while 61 percent say they would be more likely to purchase a luxury product if it came in premium packaging.Your packaging says a lot about product quality, and by extension, your brand’s personality and status. Focusing on Specification Data Management ensures consistency in packaging specs to keep package design and branding aligned. As changes to your package design are made, users will always have access to the latest version.

Prevent Costly Recalls that Could Affect Brand Image

Recalls in the beauty industry can be costly, both in terms of lost sales and brand fallout. A recall can mar consumers’ trust and it can be difficult to recover, even when quality issues are resolved. According to a recent Forrester report, the majority of recalls are the result of failing to print a specific ingredient or allergen statement on the product package. Specification Management software helps to eliminate the risk of recalls due to this type of negligence to maintain a positive brand image focused on consumer safety.If you’d like to learn more about how Specright’s Specification Data Management software is helping beauty companies for the better, download our case study on how Rodan + Fields is using Specright to manage packaging and drive sustainability.[/vc_column_text][/vc_column][/vc_row]

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With Specright’s Solution Suite, you can digitize, centralize, and link your specification data to drive efficiencies, intelligence, traceability, and collaboration within your organization and across your supply chain network.
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