Enterprise risk management for consumer products companies
Effective risk management is a concern for organizations in all industries, particularly consumer products companies. As the industry rapidly evolves, emerging technologies, globalization, fluid consumer demands and the rise of social networks present several new risks that companies must identify and address. A comprehensive enterprise risk management (ERM) program allows you to design and implement a governance strategy that aligns with your risk appetite and encourages awareness of your unique threats.
With a variety of complex business models and supply chain strategies, there is no “one–size-fits-all” solution for risk management. Your ERM strategy should take your business model and risk exposure into consideration as well as best practices and any compliance and regulatory requirements. Read our article to learn about common risks facing consumer products organizations and how a thorough ERM program can address them and drive sustained success.