STRATEGIC OPERATIONS MANAGEMENT IN FMCG: A COMPREHENSIVE REVIEW OF BEST PRACTICES AND INNOVATIONS

STRATEGIC OPERATIONS MANAGEMENT IN FMCG: A COMPREHENSIVE REVIEW OF BEST PRACTICES AND INNOVATIONS

March 2024 | David Olanrewaju Olutimehin, Ekene Ezinwa Nwankwo, Onyeka Chrisanctus Ofodile, & Chinonye Esther Ugochukwu
This paper provides a comprehensive review of best practices and innovations in Strategic Operations Management (SOM) within the Fast-Moving Consumer Goods (FMCG) sector. It highlights the key challenges faced by FMCG companies, such as demand volatility, short product life cycles, and complex supply chains, and explores how SOM practices can help address these challenges. The review covers inventory management, production planning and scheduling, and the role of technology and innovation in enhancing SOM practices. It also discusses the importance of collaboration and partnerships in achieving competitive advantage and sustainable growth. The paper emphasizes the need for a holistic approach to SOM, integrating people, processes, and technology, and provides practical insights and recommendations for FMCG companies to optimize their operations. Case studies of successful SOM implementations by companies like Procter & Gamble and Unilever are discussed, showcasing the impact of effective SOM practices on business performance and competitiveness. The future trends and opportunities in SOM for FMCG are also explored, including the potential areas for innovation and improvement, such as sustainability, customer engagement, and supply chain agility. Overall, the paper underscores the critical role of SOM in driving efficiency, quality, and customer satisfaction in the dynamic FMCG industry.This paper provides a comprehensive review of best practices and innovations in Strategic Operations Management (SOM) within the Fast-Moving Consumer Goods (FMCG) sector. It highlights the key challenges faced by FMCG companies, such as demand volatility, short product life cycles, and complex supply chains, and explores how SOM practices can help address these challenges. The review covers inventory management, production planning and scheduling, and the role of technology and innovation in enhancing SOM practices. It also discusses the importance of collaboration and partnerships in achieving competitive advantage and sustainable growth. The paper emphasizes the need for a holistic approach to SOM, integrating people, processes, and technology, and provides practical insights and recommendations for FMCG companies to optimize their operations. Case studies of successful SOM implementations by companies like Procter & Gamble and Unilever are discussed, showcasing the impact of effective SOM practices on business performance and competitiveness. The future trends and opportunities in SOM for FMCG are also explored, including the potential areas for innovation and improvement, such as sustainability, customer engagement, and supply chain agility. Overall, the paper underscores the critical role of SOM in driving efficiency, quality, and customer satisfaction in the dynamic FMCG industry.
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