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FMCG firms have recovered successfully due to restructured supply chains and adigital first strategy: ETILC Members
Synopsis
The past year saw many jolts to the supply chain. Demand for many items was volatile. While short-term demand for some items increased sharply, for others it significantly decreased.
In the last 6-8 months, much has changed for firms in the FMCG industry. After the initial shock due to the lockdown in March 2020, sales have gone up in Q2 and Q3. According to Bizom, a sales automation firm, the third quarter saw growth of 17% in total sales by value. Supply chain and manufacturing constraints took a toll on the sector for the initial two months of the lockdown after which players have coped well through digitization, e-commerce sales and other methods.
‘Digitisation helped industries mitigate impact of pandemic’
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Industry experts discuss growth opportunities at CII seminar
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Industry experts discuss growth opportunities at CII seminar
The coronavirus posed a challenge to businesses by forcing them to go into prolonged lockdown, but they could survive the crisis through a calibrated approach. The industries could mitigate the impact of lockdowns by adopting digitisation on a scale that was not seen before, said B. Santhanam, CMD of Saint-Gobain India Private Limited.
Addressing a seminar on the theme ‘Embracing the new normal- Building resilience and emerging opportunities: lives, livelihood and growth’ organised by the Andhra Pradesh (AP) Chapter of the Confederation of Indian Industry (CII), here in virtual mode on Monday, Mr. Santhanam said digitisation has been increasingly adopted across the industry verticals to minimise the impact of lockdown and innovations has become vital in thes
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