Last November, a survey of Fortune 1000 private-label executives across a variety of industries asked how effectively they collaborate with supply chain partners and what online or offline tools they use to communicate and share information. Additionally, the survey explored how collaboration impacts the respondents' businesses and what they view as major collaboration challenges in today's private-label industry. In total, 93 percent of respondents reported that their organization is more productive because of their ability to collaborate.
Results of the study also showed that 54 percent of private-label partners are most focused on cost control, with 42 percent reporting that they are focused on improved consumer confidence and 40 percent on improved time to market. As the private-label industry expands with more data in the supply chain, partners recognized that if they don't communicate effectively they may face increased risk. Therefore, it is increasingly important for organizations within the private-label industry to implement collaborative, cloud-based tools to share real-time information, manage those risks and, simultaneously, grow consumer confidence.
