Geneva, 20 July 2020: The outbreak of the COVID-19 pandemic has required unprecedented health measures across all geographies, with business shutdowns and stay-at-home policies disrupting the global economy at a scale never seen before. The crisis has limited the operations of many businesses and has had implications for employees, supply chains, cash flows and investor returns. Yet, it has also highlighted the importance of effective and sustainable continuity planning for business resilience.
The fast-moving consumer goods (FMCG) industry is one of a handful that has avoided the massive economic shock in the early days of the COVID-19 pandemic. The relatively stable nature of long-term demand for staple products likely positions it for a quicker recovery compared to other industries. Yet, the crisis is also an opportunity for businesses to enhance their resilience to a second wave, to future global pandemics and to other potential types of future shocks (impact of natural disasters, lock-downs in case of political unrest, etc.).
This global pandemic provides FMCG companies with an opportunity to address and improve the sustainability and inclusivity of their value chains.
In the context of our COVID-19 Response program, we have collaborated with Boston Consulting Group (BCG) to develop a perspective on a sustainable & inclusive recovery in the FMCG industry showing how the checklist tool can be applied in the FMCG industry.