More than any previous year, the focus of executive attention has shifted from economic uncertainty to data, technology and the supply chain. As the consumer demand for digital experiences and e-commerce grows, retailers and manufacturers are looking at how they can meet these needs and operate in this new era of disruptive technology. These are the findings of The Consumer Goods Forum and KPMG International annual Global Top of Mind Survey, which polled nearly 500 C-suite and senior executives globally.
Findings reveal how important the digital revolution will be over the next 12 months to consumer goods and retail companies – impacting everything from business growth and supply chain management to food safety, sustainability, and data security and privacy.
The supply chain was rated by consumer goods and retail executives as the No. 1 challenge for their companies — and is also the most likely to receive increased investment this year. Additionally:
- 38% of executives cited supply chain management as their main challenge.
- 42% placed supply chain management at the top of their list for increased investment over the next 12 months. This was followed by international expansion (32%) data analytics (28%) and digital strategy (28%).
- 45% of executives said speed and agility is their top priority for improving the supply chain.
While supply chain is their main challenge, data analytics is top of mind. 56% of all respondents cited data analytics as being ’very’ or ‘critically’ important, ranking as the highest ‘Top of Mind’ score.
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