KPMG can assist Consumer & Retail companies with transforming their manufacturing, assortment and merchandizing strategies, in line with increasing demand for groceries, medicines, masks and other preventive equipment. This is a result of the ever-increasing need to stockpile necessities, amid lockdowns and mass quarantines.
KPMG can help companies minimize the impact of ramping production, shortage of workforce, restricted sourcing, distribution and transportation, and closure of restaurants and cafes by providing services specific to supply chain and logistics optimization. Further, it can help retailers expand and improve their e-shopping channels, for example last-mile delivery, click-and- collect, and social media marketing.
With Consumer & Retail companies reducing their profit outlook and an increased focus on cost reduction, efficiencies and revised savings targets, KPMG can provide assistance with cost reduction strategies, identify operational optimization and efficiencies as well as low cost support areas to protect profits.
Given the high demand for consumer products, assisting consumer companies with business continuity management is also a priority area, to minimize risks such as crashing of order management and e-commerce portals/platforms, closing of stores, and limited movement of products across the supply chain.
The need to deprioritize the production, distribution and sale of non-essential and premium products, in addition to funds allocated for hiring workforce and make working conditions safe has resulted in retailers facing difficulty in liquidating stock and meeting volume purchase commitments, among other challenges. KPMG can assist with cash and liquidity crises, and provide working capital and cash flow management services.
Post the crisis, Consumer & Retail companies are expected to focus on digital transformation to become more agile and responsive. The companies may look to invest in adopting advanced technologies such as artificial intelligence, machine learning, robotic process automation, mobile technology and augmented/virtual reality. KPMG can assist by providing digital transformation (including industry 4.0) advisory services.
KPMG can assist Consumer & Retail companies to evaluate the impact of Covid-19 on consumer behavior and buying patterns and rethink and redesign the customer experience based on the new reality in the post Covid-19 world with increased health and safety measures and restrictions.
Information and data security are critical, given many employees are working from home and/or remote locations. KPMG can assist companies with drafting data governance and management policies.
The Covid-19 pandemic has led to regular changes being announced related to tax requirements, deferrals and incentives across geographies. KPMG can assist banks in monitoring these changes, evaluating tax obligations, tax modelling and other updates related to direct and indirect tax and transfer pricing.