Tropicana Brands Group's Supply Chain and Finance Operations to Get Digital Twist
Tropicana Brands Group is embarking on a period of transformation aimed at streamlining and automating processes across supply chain, finance, and accounting operations.
The juice company has entered into a five-year agreement with professional services provider Genpact. The partnership aims to digitize and update Tropicana's finance and accounting operations, standardizing processes across the enterprise and integrating digital solutions, including artificial intelligence.
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These functions include master data management, accounts payable, expense management, order-to-cash, general accounting, reporting, customer supply chain, and procurement.
Genpact will also conduct S/4 HANA testing to facilitate the deployment of new systems and enhance Tropicana’s business services capabilities worldwide.
Matt Murray, head of corporate finance at Tropicana Brands Group, outlined the company's ongoing commitment to creating future-facing business services that align with broader growth strategies and objectives, expressing hope that the Genpact partnership would create more "seamless and connected experiences" throughout the business.
Spotlight on Supply Chain
The pandemic pushed supply chain to the top of mind for consumer goods executives, and, with its new designation as an enabler of strategy, its leaders are increasingly looking to bolster supply chain processes as a way to enhance revenue, profitability, and innovation through strategic reengineering.
Challenges persist and supply chain leaders are now tasked with doing more with less, balancing many competing pressures.
“If you’re a CPG, you’re trying to balance your costs, maintain high levels of profitability, meet consumer demand, navigate a period of high inflation,” says Tom Madrecki, VP of supply chain and logistics at Consumer Brands Association, in a recent conversation with CGT. “You’re trying to navigate new technologies coming online, whether it’s AI or automation. You’re trying to make these calculated bets about what will work, what won’t, when is the right time to test something, when is the right time to implement something?”
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Interest in using technology to enhance and streamline these processes – as Tropicana Group Brands is doing — is currently at an all-time high. Gartner research shows that 73% of supply chain IT budgets this year, on average, will be allocated to growth and performance enhancements.
Among the many CPG giants looking to create a more connected supply chain through tech is Kellanova, who recently outlined how it is digitizing the supply chain, creating digital twins and replicas in manufacturing.
Tyson Foods is also looking to foster a more connected, end-to-end supply chain ecosystem. In a recent conversation with CGT, Adam Clark, Tyson’s VP of IT business shared services, outlined how it is using control tower capabilities for supply chain logistics and inventory management to generate automated, near-real-time insights that are easy to consume, actionable, and used to fuel decision-making.
Similarly, P&G has also worked to expand its collaborative abilities, launching a supply chain services platform for retailers to increase collaboration, sustainability, and competitiveness.
