Supply chain News and trends

Long after the pandemic and a host of other disruptions delivered a fatal blow to lean supply chains, consumer packaged goods (CPG) manufacturers are determined to gain the visibility they need for resiliency – with good reason. IDC analysts predicted that by the end of this year, half of all manufacturing supply chains will see the benefits of supply chain resiliency, resulting in a 10% reduction in disruption impact. Gartner researchers found the top two business drivers for digital supply chain strategy were to improve the customer experience (97%) and reduce costs (98%).

“There isn’t a CPG manufacturer who would disagree that having visibility across their supply chain is paramount to resilient business during these disruptive times,” said Stanko Simonski, CPG industry value advisor at SAP. “The question is how to close the gap between the vision and reality. Market leaders are gaining the visibility to first, understand what’s likely to happen and how they need to respond, and second, act on the decisions they’ve made.”

Via EcoVadis

The CPG market has been growing in the last few years despite stiff competition from niche players, e-commerce occupying a larger market share, and the general shift in customer shopping behaviors.

COVID-19 has held the mirror to the vulnerabilities of our systems — from public health to global supply chains. There was an acute shortage of essentials across the globe. CPG and food and beverage (F&B) companies were struggling to move stock to places where they needed it. Even as enterprises are stabilizing themselves now, the dynamic nature of demand and the inevitable economic pressures that will follow, leave much to be desired. This is fundamentally due to the absolute lack of supply chain visibility. 

Today more than ever, enterprises need supply chains that not only recover from the present crisis but also steer stability in its aftermath. At EdgeVerve, we believe that two things define supply chain resilience: Their ability to be ‘connected and ‘cognitive.’ The TradeEdge suite of products is designed for enterprises to achieve this vision. We’ve enabled 25+ global enterprises — across CPG, apparel, beauty, pharmaceuticals, food and beverages, and technology industries to begin this journey. When you’re ready, we can help you navigate your next.

Read Make Your Supply Chain Resilient for the Post-COVID Future now to help your CPG enterprise strengthen your supply chain for the turbulent present and volatile future. 

Via EcoVadis