Blog / Free eBook: How to Overcome CPG & F&B Challenges To Improve Performance and Mitigate Risk

Topics: Syncrofy |

Free eBook: How to Overcome CPG & F&B Challenges To Improve Performance and Mitigate Risk

By: Pasquale Gatti | May 24th, 2022

With all the barriers you’ve had to face over the last two years, the risk of experiencing a crippling supply chain setback is greater than ever.

While the clearest route to mitigating those risks is to cultivate a visible and agile supply chain–it’s often easier said than done.

According to Forbes, 46% of CPG executives reported poor visibility into their inbound shipment status and 37% said they struggled to understand their suppliers’ ability to meet demand.

It’s quite clear that “what we have here is a failure to communicate.”

The problem is you may not know you have a blind spot in your supply chain if it’s never been addressed. And they can happen in every aspect of your operation, including management of compliance-related risks, maintaining a high level of customer service, and ensuring your accounts receivable team is paid in a timely manner.

Since no industries quite feel the pain when their customer’s shelves are out of stock like CPG and FAB, it’s hyper-critical that you leverage real-time data to make the most well-informed decisions possible. And as disruptions continue without a clear end in sight, it’s become more important than ever before.

However, PwC principal and consumer markets specialist Penny Boswell points out that utilizing that data still remains problematic.

“Data is a blind spot in these organizations,” she says. “They need to figure out how they can leverage data in a meaningful way, how to use information to make decisions and act quickly or how to know if their competitors are running low on stock.”

The bottom line–those who are able to take advantage of technology and prepare to anticipate and respond quickly to challenges can meet the demands of their customers, drive business growth, and sustain long-term success.