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© 2010 Grocery Manufacturers Association 1350 I (eye) Street, NW, Suite 300, Washington, DC 20005 ph 202.639.5900 :: fx 202.639.5932 :: info@gmabrands.com :: privacy statement :: comments/feedback :: |
OAKBROOK, ILL. – The Grocery Manufacturers Association (GMA), in conjunction with Food and Consumer Products of Canada, today hosted more than 75 business leaders from the consumer packaged goods (CPG) industry to discuss the impact of fuel price volatility on supply chain operations and broader logistics cost management strategies at a roundtable forum in suburban Chicago.
“There are numerous forces putting never before seen pressures on the CPG supply chain,” said Stephen Sibert, GMA senior vice president of industry affairs. “The game has changed, and the companies that come out ahead will be those that not only drive efficiencies within their own operations, but also understand how consumers are responding in this new economic landscape.”
The day-long meeting explored short and long-term economic forecasts, tactical and strategic approaches to managing fuel costs, and early data on changing shopper behavior. Specifically, participants learned how they can leverage promotional activities to improve consumer spending and what new risks could threaten the value chain. The event also studied cost management practices from beyond the CPG sector with a cross-industry panel that featured an executive from Delta Air Lines, Inc. The program concluded with facilitated small group discussions on topics such as how increasing costs are impacting the supplier-customer dynamic and how rising fuel prices are affecting long-term planning.
“They say two heads are better than one, and that’s what today is about,” continued Sibert. “Our objective was to bring together a diverse group of top business leaders, advisers and experts to exchange cost-mitigating insights and proven practices for the benefit of the entire CPG industry.”
Sixty companies were represented at the event which was sponsored by IBM. Rick Lenny, former chairman, president and CEO of The Hershey Company and former chairman of the GMA Board of Directors, served as moderator.
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Based in Washington, D.C., the Grocery Manufacturers Association is the voice of more than 300 leading food, beverage and consumer product companies that sustain and enhance the quality of life for hundreds of millions of people in the United States and around the globe.
Founded in 1908, GMA is an active, vocal advocate for its member companies and a trusted source of information about the industry and the products consumers rely on and enjoy every day. The association and its member companies are committed to meeting the needs of consumers through product innovation, responsible business practices and effective public policy solutions developed through a genuine partnership with policymakers and other stakeholders.
In keeping with its founding principles, GMA helps its members produce safe products through a strong and ongoing commitment to scientific research, testing and evaluation and to providing consumers with the products, tools and information they need to achieve a healthy diet and an active lifestyle. The food, beverage and consumer packaged goods industry in the United States generates sales of $2.1 trillion annually, employs 14 million workers and contributes $1 trillion in added value to the economy every year.
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© 2010 Grocery Manufacturers Association 1350 I (eye) Street, NW, Suite 300, Washington, DC 20005 ph 202.639.5900 :: fx 202.639.5932 :: info@gmabrands.com :: privacy statement :: comments/feedback :: |