Mike Crowe, chief information officer (CIO) at Colgate-Palmolive, is giving special attention on the advanced technologies in order to improve customer experience that will result into hike in revenue and profit.
Colgate-Palmolive reported total sales of $4.015 billion (+5.5 percent) in the fourth quarter of 2019.
Colgate-Palmolive said it is using analytics to use to drive its e-commerce business. Colgate-Palmolive’s e-commerce business revenue rose almost 40 percent in the fourth quarter of the full year.
“We’re seeing benefits by combining our teams, particularly around digital and e-commerce on the ground to share learnings and maximize efficiencies in terms of how we look at digital, how we buy digital and how we execute against the data,” Noel Wallace, president and chief executive officer of Colgate-Palmolive Company, said.
Colgate-Palmolive said it is cutting the time it takes innovation to reach the market. The second priority of Colgate-Palmolive is becoming more digital and data-driven in everything it does commercially. Colgate-Palmolive uses digital tools to replace its traditional testing methods in order to speed up innovation.
Colgate-Palmolive CIO Mike Crowe is driving the digital investment in order to boost efficiency. Colgate-Palmolive is using analytics to more effectively target digital spending and drive a higher ROI. It’s accelerating e-commerce business by becoming more data-driven.
“We’re sharing learning across our businesses and geographies and we’re co-locating Colgate and Hill’s businesses to share best practices and drive efficiencies. Projects like our move to S/4HANA will allow us to simplify and standardize processes and move resources toward areas that drive real growth,” Noel Wallace said.
Colgate-Palmolive will make investment in more automation and robotics to drive savings in supply chain.
Colgate-Palmolive in 2015 launched a five-year-long supply chain transformation strategy called Global Supply Chain 2020, aimed at boosting supply chain innovation, agility and operational excellence. The supply chain leadership team launched an initiative to create an end-to-end supply chain planning and execution environment.
Operating profit of Colgate-Palmolive increased to $931 million in fourth quarter of 2019 compared to $891 million in fourth quarter of 2018. Its operating profit margin was 23.2 percent in the fourth quarter of 2019 versus 23.4 percent in the fourth quarter of 2018.