How has the current economic climate prompted consumer companies to regain control of the supply chain?
Changing consumer preferences, emerging markets, private label penetration, volatile economic conditions and the rising cost of raw materials are some of the key issues facing the consumer products industry today. According to a 2010 report by a leading global consulting firm, different sectors within the consumer goods industry all have unique ways to ensure that the supply chain is effective in light of these challenges. It has been noted in other research however that world class supply chain standards are not prevalent across the consumer industries.
With further factors such as skills shortages and changes in sustainability standards , there is a greater urgency for consumer companies to be at the forefront of innovative supply chain practices to ensure that they remain competitive in this hugely complex environment. This is the context for the report which looks at how consumer companies are responding to these challenges by seeking to regain control over the supply chain while at the same time realigning their talent strategies to focus on developing leadership skills to help reduce risk and improve efficiency.
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