For Grupo Herdez, risk management means using our experience to identify and manage risks and adapt to an ever-changing environment, thus improving our capacity to respond.
During 2016, we focused on mitigating the impact of cost increases due to the appreciation of the dollar and rising interest rates.
We also worked on various fronts:
i) to incorporate the operations of the Frozen segment into the strategic supply area to better leverage the scale of the Company;
ii) to implement the World Class Manufacturing (WCM) methodology to standardize and increase operating efficiency;
iii) to improve the cost of transformation thanks to the consolidation of the Los Mochis plants; and
iv) to improve the forecast review process to enable us to react more effectively to changes in the environment.
We also strengthened the Internal Auditing area and control processes.