Application of technology to enhance the value of FMCG (Part 4)

Multinational FMCG companies learn from their experience globally, but others are investing in their own technology groups.

A number of startups specializing in specific fields are now engaged in this area to help FMCG companies, driven by the potential to drive efficiency and reduce costs by optimizing the supply chain. and distribution network.

For example, the FieldAssist sales automation platform helps companies improve visibility and access to retail.

“FMCG companies are always lagging behind in technological innovation and use. Apart from actual production and production equipment, no other part of the business is automated for the longest time, ”said Paramdeep Singh, CEO of FieldAssist.

We know the pain points and can create a suitable solution. This allows managers to access data about what salespeople are doing and about daily stock movements, he said.

Another startup, Locus, provides route optimization software that factors in different situations based on traffic, inventory and location and the cost impact of the redesigned supply chain. On average, the company has increased sales capacity by 12% and reduced the span length by 20%. One of the main challenges when working with traditional businesses is the reliance on old processes.

“However, more and more companies are embracing technology to gain an advantage in this highly competitive environment,” said Nishith Rastogi, CEO of Locus. “Another challenge we often face is the ground’s resistance to adapt to the technology,” he said.

Last year, P&G India introduced a P&G vGlaw supplier collaboration platform, to engage startups, small businesses and large organizations to develop and implement solutions. Leading industry in solving business challenges. It also has a group of data scientists unlocking insights from Big Data using advanced analytics and a dedicated center in the city of Hyderabad to promote supply chain solutions.

Because maybe, even if the technology does not directly affect the final product, it is obvious that it will play an increasingly important role in ensuring that it reaches customers faster and helps save money. fee for these companies.

Source: Economictimes