Throughout the past year, my friends and family have become more interested in the work I do than ever before. I’m constantly fielding questions like, “Why doesn’t the local supermarket have my favorite hot sauce?” or “I don’t get it, how can we have so much access to food, and yet the shelves still seem so empty?” Just last week, a friend said to me, “It’s good to see my favorite foods back, but why did it take so long?”
The answer is the same: it all boils down to the supply chain—which can be a company’s weakest link or its competitive edge. And as important as these questions were at the start of the COVID-19 pandemic, they remain critical as consumer packaged-goods (CPG) manufacturers and retailers prepare for what’s next.
The players that best weathered the pandemic’s immediate shocks were generally those that could accomplish two difficult tasks at once: ensure on-shelf availability of products on one hand, while pivoting to omnichannel delivery with the other. The ability to keep physical and digital shelves stocked with what consumers want is powered by a resilient supply chain and a consumer-first product portfolio that masters complexity. Meanwhile, failure to adapt has a direct impact on sales growth—or lack thereof.
CEOs know it too, and are shining a spotlight on improving operational performance. In my conversations with consumer-sector executives, these are the key considerations we discuss in planning for what’s next.
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