Today FDCG companies are facing a myriad of pressures ranging from rapidly advancing technology, empowered consumers, rising cost pressures, increased speed to market, and changes in consumer spending habits all coming together at once. The result of these pressures and trends are requiring them to take a look a transforming their businesses in unprecedented ways. The results of the survey provide color as to how executives are approaching and executing their business transformation strategies.
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Transformation is about making comprehensive changes to the business at a time when incremental shifts are not sufficient. Business transformation begins with defining a strategy, but it does not end there. It is important to bridge strategy and execution.
Pat Dolan, National Line of Business Leader, Consumer Markets
Select highlights and survey results from the report.
Forty-nine percent of FDCG companies define business transformation as the continuous process of aligning our business/operating model to support our business strategy while optimizing performance.
Q: Which of the following best describes how business transformation is defined by your organization?
In being a good corporate steward of a product brand name, companies realize that part of any technology transformation involves the critical need to take advantage of digital platforms. Better performing companies focus on how to leverage social media and translate it into growth and opportunity.
Q: Which of the following technology-related trands is having a significant impact on your organization?
Supply chains must not only improve cross-functional planning, but also align operations to real-time fluctuations in customer demand. Creating end-to-end supply chain visibility is critical.
Q: Which of the following supply chain challenges does your organization currently face?