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Ogaga Ologe, finance director of Cadbury Nigeria Plc, acknowledged that the Covid 19 pandemic has ready Quick Transferring Shopper Items (FMCG) corporations for the present turbulent financial system.
Based on him, the similarities between the disruptions brought on by the Covid 19 pandemic and the present state of the Nigerian financial system have made FMCG producers construct resilient provide chains on this financial system.
Ogaga acknowledged this throughout his presentation on the February 17, 2024, trade financial outlook hosted by Nairametrics with the theme: FMCG: Sector challenges and alternatives.
The post-Covid affect on FMCGs in right this moment’s Economic system
Ogaga who was talking on FMCG producers constructing a resilient provide chain in a turbulent financial system defined that the post-Covid part had positively impacted how FMCG corporations promote, supply and distribute.
- “Though we misplaced lots of people to the pandemic, the reality of the matter is that the pandemic helped us to see flaws we had in our provide chain and the way FMCG corporations promote to their prospects.”
- “This has helped our sourcing technique. We began to consider both sourcing regionally or getting merchandise offshore. We noticed the worldwide continuation concern that affected the supply of uncooked supplies.”
- “Put up Covid, FMCG corporations noticed that a few of these supplies which can be sourced from offshore can be found regionally.”
- “Just a few tweaking on among the supplies will give us one thing equal to what we’re sourcing offshore.”
- “It has additionally affected our security inventory ranges. It has helped us overview processes in order to not be in that scenario and assist us see among the flaws we had in our provide chain sourcing and technique.”
- “On the shopper’s promoting aspect, the pandemic has helped us see how we maximise delivery to prospects and logistics prices.”
- “Promoting to supermarkets and neighbourhood shops was once troublesome however throughout the pandemic, we had been in a position to revamp our promoting processes by way of making certain that merchandise can be found in these shops.”
- “FMCG corporations automated secondary promoting processes by bringing out methods in place that may inform us when we have now inventory out at a specific wholesaler or retailer.”
Ogaga additional disclosed that FMCG corporations have invested in getting merchandise nearer to shoppers as a substitute of getting shoppers exit to search for these merchandise.
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