Good project management for the FMCG Industry
Competition is stiff in the Fast Moving Consumer Goods (FMCG) industry. In this current day and age, we as a society have become reliant on FMCG products, and the brands behind them are household names in close competition with each other. As consumers, we strive to be price-conscious and tailor our shopping habits to match our spending constraints. This only drives competition even more between brands, underscoring how vital market share and consumer loyalty are. In order to stay relevant, FMCG companies need to be innovative and able to pivot and change with the tides of the ever-changing market. Here is what you will need to create the right project management for the FMCG Industry.
Project management impacts consumer goods development
For every new product or improvement, there is a project behind its release that needs to be managed. The goal of every project is to improve the company’s output and increase revenue. Dealing with such valuable metrics requires careful management of the project. In the initial stages of a project, a large amount of planning needs to occur to suss out the details. Because the FMCG deals with real, physical goods, it’s especially important that planning is given the weight it deserves. Part of project planning involves defining the scope and highlighting any risks that are discernible from the outset. This is crucial to the development of FMCG products. Oftentimes, risks are identified as the plan unfolds, and this can change the product’s specifications quite drastically.
Project management impacts inventory and resource management
In the FCMG industry, stock, inventory, and resources are key factors in the success of a project—without the right amount of inventory, how can you ensure that the product is stocked to your consumers’ demands while still keeping the company profitable? Project management directly addresses the management of resources using a resource allocation plan to keep track of it all, including visibility across multiple projects. A similar process can be put in place for inventory and stock management to make sure that your numbers are accurate and up-to-date. By following a resource allocation plan, you have a base for which you can measure your project’s status against, helping you highlight risks and issues as they arise. Project management for the FMCG Industry starts with a strong base and good data.
Project management impacts manufacturing and shipping
As FMCG projects leave the planning stage, the product enters the manufacturing and shipping phases. Although the bulk of project management is complete by this point, these processes still need to be monitored and controlled. Using the project management concept of phase-gating allows you to set checkpoints at which to evaluate the progress of the project and pivot according to change. It is often during manufacturing and shipping phases wherein the most unforeseen risks begin to surface. Having gated checkpoints allow you to ensure the quality of your goods as well as evaluate whether or not more resources are needed to bring the project to completion on time.
OneDesk has you covered:
The team at OneDesk knows that not every FMCG project is the same, and they’ve accounted for that by offering a full suite of tools and resources to help. With customizable teams, you can keep track of resource allocation and keep it up-to-date as the project progresses. OneDesk also allows for short- and long-term planning for your products and brand, which gives you insight into what sorts of new projects might be on the horizon. With flexibility in workflows, OneDesk allows you to follow whichever processes and methodologies you wish to use. There’s a wide variety of situations in the world of FMCG. There is no one right way to manage all FMCG projects, but with OneDesk, you can find a way that works for you and your team. When looking for a good project management for the FMCG Industry look no further than OneDesk.