September 10, 2022 Blog
Welcome to yet another post from our weekly series, which is usually based on how cloud computing helps different verticals in meeting industry-specific challenges and emerging as the winner of the time. In our previous post, we covered cloud migrations for the Manufacturing industry (LINK: How Does Cloud Migration Help your Manufacturing Business: Migrate to Cloud with LogicEra!) and discussed how Manufacturing companies are leveraging the power of the cloud to not just transform their design, production, and supply chain processes but also drive innovation, enhance customer experience, accelerate growth, reduce costs, etc. In this post, we will discuss how cloud migration is helping FMCG (Fast-moving consumer goods) businesses in forecasting market demands, tracking stock at multiple levels, improving work efficiency, reducing costs, and much more.
Belonging to a diverse and extremely competitive industry, FMCG companies always be on the lookout for ways to improve work efficiency and reduce costs. However, if they want to outshine their fierce rivals, they must embrace cutting-edge technology as industry disruption can be the most viable growth hack for them. Technology like cloud computing can help them overcome their top challenges which include high competition, increasing customer expectations, process consolidation, increasingly restraining regulations, and so on.
Here are the top 7 ways cloud migration can help FMCG businesses in improving ROI (Return on Investment) in the on-demand economy of today.
The enterprise innovation management platforms based on the cloud could be used for capturing and connecting customers & employees as well as for garnering consumer insights. With the cloud, FMCG companies can use online platforms and can crowdsource innovation by capturing consumer feedback. Cloud also makes it easy to test products and perform iterative experiments.
This one is the most obvious benefit of cloud computing as with it you need not pay for installing, maintaining, repairing, or upgrading expensive hardware. It not only helps you get rid of the investment part but also the responsibilities. So you can devote your time and effort to your core business. Moreover, most cloud services providers (CSPs) offer a pay-as-you-go pricing model so, unlike your on-premises infrastructure, you only pay for the services you use in the cloud.
It isn’t easy to get visibility into the complex supply chain data dispersed across multiple systems like in-house CRM, Spreadsheets, SAP, etc., especially for FMCG companies. However, the cloud allows you to sew the integration of all systems & applications used by your business, and your manufacturers, partners & suppliers into one system. By integrating applications within the cloud, fine-tuning the supply chain becomes quite easy for businesses in turn maximizes efficiency. It helps businesses in spotting problems quickly and reacts agilely to changing consumer demands and market dynamics.
Cloud-based analytics along with social media can be utilized by FMCG companies for gaining better insights into market conditions that include understanding the consumer segment, discerning their preferences as well as finding out the impact of new product launches & promotional offers. They can also leverage the power of the cloud for forecasting and automatic order generation.
Businesses can make use of a cloud-based data management platform for connecting individual consumer data to media performance data. Through cloud applications, they can gather real-time in-store responses from their sales team.
With the cloud, your existing ERP solution can be increased for managing the growing market diversity, your knowledge management capacity can be improved as well as recruitment and HR processes can be streamlined for attracting and retaining existing talent.
Cloud makes capacity, production, and logistics management easy. FMCG companies can also leverage the cloud for gaining in-store intelligence for identifying gaps in the supply chain and taking prompt actions. Cloud also provides product lifecycle management solutions and mobile solutions for distribution. Automated field-manufacturing processes could be carried out through the cloud.
Aforesaid were some of the benefits of cloud-specific to the FMCG industry, there are several others that any industry and every industry can enjoy such as improved agility, scalability, resilience, flexibility, backup & disaster recovery, etc. Whether it is workflow planning, inventory management, or gaining visibility into the supply chain, cloud computing offers viable solutions for all these challenges faced by FMCG companies.
Perhaps, these are the reasons why more and more FMCG companies are planning to move to the cloud. Some of the most renowned names in the FMCG industry that are already embracing the cloud for their IT solutions are Procter & Gamble (P&G), Unilever Dabur, Amul, Kwality Dairy India Limited (KDIL), and the list goes on.
Of course, migrating to the cloud could be a worthwhile move but don’t forget it is not as easy as it sounds. You must first research well before you jump onto the cloud computing bandwagon. Make sure all your cloud implementations are backed with an effective cloud migration strategy. Just in case you require any supplemental support you can get a cloud consultant on board or hire a Managed Services Provider (MSP). There are several cloud migration service providers that provide cloud services for the FMCG industry as well. One of the most reputed cloud migration companies in the UK and UAE is LogicEra. The MSP helps you seamlessly and safely migrate your infrastructure to the cloud within the shortest possible time.