SOURCE: Trade Promotion Management Associates

May 15, 2007 10:01 ET

TPMA and Hitachi Consulting Announced Today Formation of the Food Service TPM Council

PARSIPPANY, NJ -- (MARKET WIRE) -- May 15, 2007 -- Trade Promotion Management Associates and Hitachi Consulting announced today that the Food Service TPM Council has been formed to focus on Understanding Best Practices for Trade Promotion Optimization in Food Service.

"In the face of dramatically escalating trade spend costs with few documented means by which to justify this investment, it is paramount that we gain a better understanding of how these funds can be applied to brand building," said Mike Kantor, Managing Director, TPMA.

The TPMA Food Service TPM Council will define and publicize best practices for the efficacy and efficiency of trade promotion in the food service industry. It will help the industry to understand the complexity of trade spend programs, the administrative burden and associated challenges including: inconsistent contract planning, creation and tracking; claims/deductions processing; settlement timing, measurement and Key Performance Indicators to support trade program effectiveness.

"This initiative has the potential of reshaping the discussion around trade promotion activities by decreasing the inaccuracies and inefficiencies in the system today and by driving greater effectiveness of trade spend," commented Jim Klass, National Director Food & Beverage, Hitachi Consulting. "We have an opportunity to open the dialog among the trading partners: foodservice operators, distributors and manufacturers, to not only increase the efficiencies of trade spend, but to drive costs out of the supply chain," Klass concluded.

Hitachi Consulting is creating the framework to establish areas of focus, which are based on its Building the Market Responsive Company(SM) directives aimed at helping companies be more competitive. Based on collaborative discussions among the Council's members best practices will emerge along with a roadmap for manufacturers to help them achieve success. Metrics will be publicized through various TPMA vehicles.

The Council's first set of findings will be presented at the TPMA Annual Conference at the Intercontinental Hotel in Chicago, October 7-10, 2007. For information on attending, go to www.tpmaww.com

About TPMA

The Trade Promotion Management Association (TPMA) is a trade association for professionals and organizations involved with trade promotion. TPMA provides members with best practice information, education and research on the dynamic world of trade promotion, including co-op advertising, market development funds, demand planning, supply chain, process/technology, channel promotions and more.

With the recent enactment of Sarbanes-Oxley, and accounting changes issued by the Financial Accounting Standards Board, trade promotion professionals need a resource to keep them abreast of new legislation, changing industry trends and information on how other organizations are dealing with these changes.

TPMA membership is open to any organization dealing with trade promotion, whether manufacturer, retailer, media representative or service provider.

About Hitachi Consulting

As Hitachi, Ltd.'s (NYSE: HIT) global consulting company, Hitachi Consulting is a recognized leader in delivering proven business and IT solutions to Global 2000 companies across many industries. With more than 1,500 consultants across the United States, Europe and Asia, we leverage decades of business process, vertical industry, and leading-edge technology experience to understand each client's unique business needs. From business strategy development through application deployment, our consultants are committed to helping clients quickly realize measurable business value and achieve sustainable ROI.

Hitachi Consulting's client base includes nearly 35 percent of the Fortune 100 and 25 percent of the Global 100 as well as many leading mid-market companies. We offer a client-focused, collaborative approach and transfer knowledge throughout each engagement. For more information, call 877.664.0010 or visit www.hitachiconsulting.com.

Hitachi Consulting -- Inspiring your next success!®

Contact Information

  • Contact:
    Mike Kantor
    Managing Director
    Trade Promotion Management Associates
    1055 Parsippany Blvd.
    Suite 405
    Parsippany, NJ 07054
    E-mail: Email Contact
    Telephone: 1.646.442.3703