SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on the top supply chain challenges that FMCG companies need to overpower.
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In the present scenario, companies in the FMCG industry are under immense pressure to make their mark among customers. They not just require products that can meet customers' demand, but also need to devise strategies to reach customers before competitors in order to attain success in the market. Identifying different supply chain strategies that can address the current demand and supply requirement while meeting capital requirements for new products is crucial.
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Top Supply Chain Challenges That FMCG Companies Need to Address
Lack of end-to-end visibility and collaboration
The CPG industry is highly volatile and complex. Companies, therefore, need to have a multi-tier visibility to make forecasts and track orders. Gaining real time insights into stock-in-transit and point-of-sale (POS) can enable organizations to redesign their supply chain and proactively manage volatile demand. It will also facilitate bi-directional collaboration between partners.
Want to know how you can improve supply chain visibility and manage volatile demand? Reach out to our experts for customized solutions.
Product innovation and fulﬁllment within the supply chain
With the increasing competition, it has become imperative for organizations to make their brand stand out from the rest. They require innovative product designs that can help them differentiate from competitors and grab customers' attention. Maintaining close coordination with contract manufacturing partners can help companies incorporate new designs and launch products.
Incorporating innovative product designs, manufacturing, and fulfillment within the existing supply chain can be a challenging task without accurate market insights. Register for free and gain instant access to 1000+ procurement reports based on different categories.
Conﬂicting key performance indicators
Firms integrate data across various platform to provide unique insights into demand patterns, operations, and customer service requirements. However, top players in the supply chain must be aligned to the measured tools that are being used to interpret the information. Having a shared planning and execution process coupled with right business analytics is the key to supply chain management.
To know more about supply chain challenges in the consumer goods market, read the complete article here!
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