Food is a ticking time bomb.
CPG entrepreneurs often learn this the hard way. The minute your product comes off the line, you have just 90 days to get it to a distributor. If not, you’re looking at progressive discounts every month after that.
The reason? Most distributors insist on a 75% shelf life. If you can’t guarantee that timing at the outset, you risk whittling away your margin completely.
That’s what makes demand planning and forecasting – the topic of this episode – so important. If you can nail the when, where, how often, and how much of your product, you’re well on your way to CPG success.
To help us understand all this we’re joined by CPG veteran and master-forecaster Alex Duong.
Today Alex is the CEO and founder of Ancient Provisions, a wholesome and delicious cheese-flavored snack that’s shaking things up in the cracker category. Alex has seen CPG from just about every side of the business. He’s led onboarding efforts at Whole Foods and Procurement at Thrive Market, and honed some serious forecasting chops in the process.
Alex also has a history of being ahead of trends, and he isn’t afraid to pivot when faced with new information. This is a big reason why Ancient Provisions is thriving, despite launching in one of the most challenging environments imaginable.
Alex shares how to nail your 2021 forecast, the single most common planning mistake he sees companies make, and why every entrepreneur should ask themselves: are they a Russell Westbrook, a Lebron James, or a Kawhi Leonard?
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Brand Builder is produced by Caroo.