We live in an age of immediate results and instant gratification. Businesses recognize the need to fulfill consumers’ expectations by delivering their purchases quickly.Moller-Maersk’s latest e-book examines how this need for speed impacts consumer product brands and how it can ultimately determine success in a highly demanding market.
The term “fast-moving consumer goods”To stay competitive, brands need to stay on their toes in an industry that moves at a furious pace. Nowadays, getting products to consumers on time is as crucial as the innovations that into their creation.
In fact, a study by MIT found that consumer brands lose almost 22 percent of unrealised profits because of unsellable products caused by expiration, discontinuation or damage.
In a world where shoppers are spoilt for choice,agility is equally
Consumer brands face a formidable challenge when it comes to balancing supply chain agility with steady product innovation. Hence, having a single LSP (logistics service provider) becomes increasingly beneficial at this point. An integrated end-to-endprovides brands with a customized strategy that ensures every value chain step is completed to their satisfaction.
Additionally, businesses can retool their strategy to suit changing market demands without having to coordinate with a dozen parties.
Maersk’s latest e-book ‘Food for thought in FMCG supply chain’ explores how speed-to-market, process flexibility and agile inventory management can be brought together harmoniously to ensure steady success for brands, even in the most unpredictable of industries.
Those interested in the e-book can download it for free. It also includes an infographic detailing the supply chain journey of instant noodles as a clear example. Maersk’s website