FMCG (Fast-moving consumer goods) is the industry which produces consumer products that are consumed at a faster rate and are recurring in demand. The demand for the products is fast-changing and the companies have to face many challenges. The main challenges of FMCG companies in this pandemic are production, maintenance, and managing the plant with limited capacity and strict adherence to social distancing. The important issue is the availability of manpower to run these operations. Many companies are adopting a shift system to adhere to social distancing and to meet the demand of production which in turn results in even fewer workers.
The bottom line defines how efficiently a company is spending and managing its operating costs to achieve the top line. These expenses include interest charges paid on loans, general and administrative costs, and income taxes.
FMCG companies can adopt various strategies to increase the bottom line. For example
- Increases in revenue, boost the bottom line. This can be achieved through
- Increasing production
- Reducing the sales returns with the help of product improvement
- Expanding product lines, or increasing prices
- Reducing maintenance cost, unplanned downtime
- Increasing machine life to delay purchasing of new machines
- Decrease in wages and benefits, operating out of less expensive facilities, consuming tax benefits, and limiting the cost of capital. A company’s products could be produced using different input goods or with more efficient methods. For example, a company can find a new supplier for raw materials that resulted in a cost savings of millions of dollars would give a boost to the company’s bottom line.
- A company can use all earnings form the bottom line to utilize in product development, location expansion, or other means of improving the company. According to a recent survey, predictive maintenance solutions for the IoT industry are expected to reduce factory equipment maintenance costs by 40% and generate huge economic value. Which parts need replacement and which need maintenance used to be difficult questions to answer resulting in inefficiencies and loss of productivity.
- Use of sensors – The PLC integration and the Internet of Things (IoT) have renewed ordinary sensors into smart sensors, enabling them to carry out complicated calculations on measured data locally within a sensor module. Along with their increased capabilities, sensors have also become remarkably small allowing them to be attached to difficult-to-reach and potentially dangerous equipment, turning bulky machines into high-tech intelligent equipment and avoiding potential accidents and injury.
- Equipment conditions – Smart sensors monitor the conditions of equipment and its utilization rate in real-time, giving workers advance notice of potential problems or anomalies so they can be addressed proactively.
In recent years, remote monitoring has transformed the manufacturing industry, driving cost benefits, and creating new standards of efficiency that resonate from the factory floor to the customer’s door.
Infinite Uptime’s Industrial Data Enabler (IDE), a patented edge-computing Vibration monitoring system for predictive analytics and maintenance remotely gathers tri-axial vibrations, noise, and temperature of any mechanical rotating equipment in real-time. It empowers the Maintenance team to monitor the machine uptime, reduce unplanned downtime, and combat impending equipment damage in advance. Moreover, the end-to-end solution with visual indicators ensures maximum machine-availability, decreased inventory of spares and maintenance costs, and complies with the guidelines on safety and physical distancing directed by the Government. Not only does it help reduce maintenance fixed costs at a time where a reduction in costs and manpower is a dire need, but it also enhances social distancing by allowing remote monitoring of a plant without physical intervention