A typical lockdown day for Saugata Gupta, Managing Director of the ₹7,315 crore fast-moving consumer goods (FMCG) major Marico, is a series of Zoom and Microsoft Teams meetings. Most of them are about dealing with the enormous challenge of supplying essentials like Saffola oil and Parachute hair oil to consumers across the country. As traditional distribution networks have ground to a halt, the FMCG major has been desperately inking deals with third-party distribution companies to quickly create bridges to reach consumers.
The quickest way, Marico realised, was to set up a tile ordering facility where call centre workers ring up retailers and take orders directly instead of going via distributors. Yet, in the midst of all the chaos, when Gupta looks at Marico’s Q4 results — with 7 per cent dip in sales and 3 per cent in volumes — he can’t help think what else he could have done to reinvent the business and reduce risks. His answer so far: think hard, think short, and do it quickly.
Across India, in the wake of the Covid-19 pandemic and the lockdown, businesses, big and small, are seriously rethinking about how to transform themselves to survive the crisis. While companies such as Hindustan Unilever (HUL), PVR and Pidilite are looking at conserving cash to save themselves, for retailers such as Arvind, Croma and Titan, it’s all about setting up a robust omnichannel business model. Mall owners such as DLF and Nexus Malls are preparing to go all out to reassure consumers that shopping with them is safe.
This story is from the May 31, 2020 edition of Business Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May 31, 2020 edition of Business Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Haute Couture in the Kitchen
FASHION BRANDS ARE ENTERING THE RESTAURANT SPACE, AS FOOD SEEMS TO HAVE BECOME THE ULTIMATE FASHION STATEMENT
It's Personal
Mixing work and personal tasks on work machines may be a done thing for many, but it makes sense to have a dedicated device for your personal needs. Here are two such devices
INTO THE BLUE
For WTiCabs Founder and CEO Ashok Vashist, scuba diving is not just an adventure sport. It is a pathway to connect with the ocean
"Challenges are opportunities"
AMIT JAIN CO-FOUNDER & CEO CARDEKHO GROUP CarDekho Group is a digital automotive solutions provider
THE WAIT FOR HIGHER PENSION
ALMOST 18 MONTHS AFTER THE SUPREME COURT RULING, SUBSCRIBERS WHO OPTED FOR A HIGHER PENSION UNDER THE EMPLOYEES' PENSION SCHEME CONTINUE TO WAIT AS THE EPFO, FACING A STAFF CRUNCH, TRIES TO FIGURE OUT THE MATH
"It's possible to have a 25% growth out of India from now on"
Rail Europe Executive Chairman & CEO Björn Bender talks about the India market, the shift to digital, and the way ahead
Evolving Strategies
Companies need to adapt to changing times for a strong workforce
PERKS PRESSURE
IT'S NOT JUST ABOUT THE MONEY ANYMORE FOR EMPLOYEES. FROM FOUR-DAY WORK WEEKS, TO SKILLING ON THE JOB AND MENTAL WELL-BEING EXERCISES, COMPANIES ARE OFFERING A HOST OF BENEFITS TO RETAIN TOP TALENT. IS THIS ENOUGH?
FOSTERING PLURALISM
Axis Bank, with its initiatives and policies, is striving to make a holistic difference to people's careers and hone their skills too
In Keeping With The Times
With a slew of initiatives for its employees, Abbott India is working hard to build a diverse and inclusive workforce