Consumer Goods Account | Economics Dissertations

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1 Introduction

The Purpose of this dissertation is to establish the successful characteristics of the Fast moving consumer goods in the United Kingdom talking into account fresh produce and Dairy and to see what developments have taken place in this industry in line with the grocery industry.

1.1 Background

Food is an element that plays an central role for the survival of human beings .If you remove everything that plays a part in sustaining life, the last thing that you consider are air food and water (Jane F.Eastham, Liz Sharples, Stephen D.Ball, 2001).The Food industry differs from county to country depending on the country’s attitudes, culture and the way the people perceive it to be. In Today’s society people all around the globe very much concerned about the quality of Food that is delivered to them. In UK Food industry is a major economic player contributing radically to the gross national product.

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In the recent years so many changes have been bought into the food supply chain and most of these strategies are in line with what are similar in the automotive industry which is mother of all supply chain. The food supply chain has evolved over years and it began from the hunter-gatherers through primitive agriculture to developed agricultural economics (Jane F.Eastham, Liz Sharples, Stephen D.Ball, 2001).

It has been an organic change that has taken place over these years. As things have changes we are now looking at a global food supply chain. The food that we eat on our table or anywhere would have reached us through a big process before it is cooked and served to us. For example each ingredient that is put into the dish would be from different place with different cultures then put together to make it into how the customer wants it.

In today’s economy the consumers are demanding more and they want things at much faster response rate. In fact they are able to purchase food from every corner of the globe at any time. Companies all the over the globe are in competition with each other to reduce its lead time and make the product reach the customers at a faster rate. For example if you take into account the grocery sector which is one of the largest sector in the UK they have to be updated with the changing market demand and these information should be passed through whole supply chain.

1.2 Fast Moving Consumer Good

In the global economy the Fast moving consumer goods relies effectively on the effectiveness of supply chain. The term Fast moving consumer good suggests that goods that are of limited shelf life and are greatest chance of perish ability .So it is essential that companies have to be very responsive to the market tend and respond back and forth along the supply chain to fulfill the customer needs.

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