As the financial crisis ripples through the global economy, supply chains will need to re-invent themselves and deal with uncertainty at all levels: economic, financial and regulatory. The need to balance short-term needs with long-term investments in global supply chains will add significant uncertainty to global supply chain operations.
Staying afloat during times of economic challenge may require companies to rethink the way they have traditionally conducted their businesses. Finding ways to standardize and streamline processes may be essential to reducing costs within the demand/supply chain planning functions.
As we become increasingly globalized, with more tiers and more hands touching the ingredients in our end-to-end food supply chain, the need for food traceability will only increase.
To minimize potential liability and financial damage, organizations need to be proactive and have demonstrable systems in place to manage food safety risks across their supply chains.
If history is our guide, sales of food and beverage products will rise in the economic downturn. Food staples (cereal, bread, milk) along with convenience meals will gain volume as more families eat at home. It appears that 2009 is a time for food and beverage manufacturers to create big brands in big economies.
"Proactive" visibility is what matters most in effectively managing supply chain disruptions, i.e., when companies get the right information when it matters, from all critical internal stakeholders, as well as external supply chain partners. Companies need to have event management capabilities to aid in this process.
The latest supply-chain news, analysis, trends and tools for executives in the food and beverage industries. Learn how food and beverage companies and their suppliers around the world are managing the flow of products across all channels of the enterprise. Experts sound off on forecasting and demand planning, supply-chain visibility, logistics outsourcing, inventory optimization, transportation management, warehouse management, supply-chain security, corporate social responsibility and more.
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