48
2022 // SUPPLY CHAINS TO ADMIRE
Consumer Non-Durables In the post-recession period, the acquisition strategies of consumer non-durables companies failed to yield scale. The sizeable traditional consumer products companies of Colgate, Kimberly-Clark, P&G, and Unilever struggled to drive growth as smaller and more agile companies like Clorox made progress. The Clorox Company places into the Winners Circle for the third time. Large global multinational cross-functional alignment issues grew over the decade, driving a schism between operations and commercial teams. Operating margins were flat at 10% but inventory turns increased 32% largely driven by product complexity.
Table 33. Consumer Non-Durables Industry Performance for the Period of 2012-2021
INDUSTRY: Household Non-Durable
COMPANY INFORMATION
IMPROVEMENT
PERFORMANCE
VALUE
RETURN ON INVESTED CAPITAL
GROWTH (Year Over Year Revenue)
2021 REVENUE
SUPPLY CHAIN INDEX
INVENTORY TURNS
OPERATING MARGIN
PRICE TO BOOK
MARKET CAPITALIZATION
NAME
2012 - 2021
Church & Dwight Co
$5,190
6
6.6%
6.43
19.8%
14.3% 5.77
14,191
Clorox
$7,341
5
3.5%
7.42
17.8%
24.3% 61.67
17,208
Colgate-Palmolive
$17,421
7
0.5%
4.90
23.7%
30.1% 105.92
61,013
Energizer Holdings Inc
$3,022
1
4.5%
1.51
14.4%
6.1%
9.34
1,948
Henkel AG & Co
$23,742
12
1.0%
5.15
13.6%
10.9% 2.83
46,651
Kimberly-Clark
$19,440
7
-0.6%
6.46
14.4%
21.3% 140.93
42,118
Newell Rubbermaid
$10,589
10
8.0%
4.26
9.8%
1.6%
3.04
10,844
Procter & Gamble
$76,118
4
-0.5%
6.60
20.1%
12.1% 4.92
259,816
Reckitt Benckiser Group
$18,207
9
2.1%
4.53
25.0%
14.3% 5.39
59,495
Spectrum Brands Holdings
$2,998
3
1.3%
3.61
8.2%
2.1%
3.13
2,760
Tupperware Brands
$1,602
10
-4.4%
2.68
14.6%
12.4% 8.79
2,431
Unilever PLC
$62,051
2
-0.4%
5.51
16.4%
17.4% 7.75
132,199
MEAN WITH OUTLIERS
$20,643
1.8%
4.92
16.5%
13.9% 29.96
54,223
MEAN WITHOUT OUTLIERS
1.8%
4.92
16.5%
13.9% 18.36
35,532
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