Consumer goods companies have been managing a shifting environment with more empowered and demanding customers – driving them to innovate and bring new products to market faster, as well as contending with new market entrants. All while trying to contain costs and increase revenues.
Disruption is inevitable and can create chaos in consumer products companies’ fragile supply chains. It’s imperative to prepare for and manage disruption, to mitigate delays and shortages, and meet the demand in both their retail and direct-to-consumer businesses.
To understand Procurement’s readiness to support their organizations, SAP collaborated with Oxford Economics on research into procurement digital transformation and supplier collaboration. We surveyed 1,000 procurement and supply chain executives in 23 countries and 14 industries, including consumer products. We also surveyed executives specifically about their external labor spend.
Read on to learn what we learned from consumer products executives and to see how you compare with your peers.