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Abdur Rafeu Yead_MGT314_Assessment-1_Part A.pptx
- AbdurRafeuYead MGT314 | Section:15 | Spring 2020 - ID: 1811984030 - (Assessment-1, Part-A)
- Diversified Export Basket : Less Dependency On RMG Short-Term Economic Slowdown RecoveryBudget Focused On AgricultureAnd Health Rapidly emerging economyafter reviving Cashless Transaction Trend InfrequentPhysical Banking Mega-growth of Mobile Wallet OperatorsAnd Fintech Industry Strong Technology InfrastructureIn Banks Online Banking Economy Banking& Transaction Abdur Rafeu Yead ID: 1811984030 POSTCOVID-19 BANGLADESH Economy Banking Education Business Transport Habitual
- TechIntensive Industry Boom IOT-Based Digital transformationin business Work from Home Trend- in white collar jobs Increase Remote Workers Social Distancing in Office Virtual Meetings IT Backed Startups Flexible Work-hour Replacing 9-5 Office ‘No’ to Expensive CommercialSpaces Rise in Healthcare Industry Adventof Online Learning Platforms Congested classroom will be unappreciated New learning evaluations Shift of learning space Less People in Public Transport Restrictionsin international route Higher Transport Expenses Preferencein Personalized Ride Services Passenger on RearSeats Education Business&Startups Transport
- FrequentTemperature check Change in General consumption patterns and spending habits More Domestic Travels FrequentHand Sanitizing & Surface Cleaning Shop Individually, Not in Groups Socializing with video calls Prayer in home No Large gatherings No handshakes, Greeting with Salam Avoid Eating out, Street Foods Spend Quality times with Family Stepping Out only when Necessary Disinfecting EveryPurchase MandatoryMask in Public Places Habitual Unemployment JobCrisis HealthCrisis FoodCrisis SomeUnwantedNewNormal- Need Sustainable DevelopmentInitiatives Abdur Rafeu Yead ID: 1811984030
- A Rise in Conscious Consumption- Consumerswill be More Mindful of What They’re Buying. Safety Will Be The New Measure Along With Quality & Quantity.Hygiene will be a Customer Attracter Short Term CONSUMERBUYINGPATTERN LongTerm ShortTerm Changes + FrequentPurchase of Personal Care & Hygiene Products Less FrequentPurchases & Buying Larger Quantities to Avoid Frequent Repetitive Purchases The Ever-IncreasingFocus on Health – Healthiness will be a Strategic Differentiatorfor Future Market Growing Reliance on Local Brands- The Desire to Shop Local will be Reflected Long Term Abdur Rafeu Yead ID: 1811984030
- OurCustomerServingStrategiesata Glimpse MY SELECTED FMCGCOMPANY ReasonstoselectACILimited One of the largest Local FMCG Brand 5k + FMCG Product varieties in market to serve customer Huge workforce to serve StrategyBreakdown EnsuringAvailability & Reachability Ensuring Affordability Guaranteed Hygiene Abdur Rafeu Yead ID: 1811984030
- StrategyExecution: EnsuringAvailability& Reachability:Product available when they need and where they need EligibilityAvailabletoPursue: Strong Supply Chain Great Salesforce Large Production Capacity StrategyExecution: GuaranteedHygiene:Productioninitiatives to make sure hygiene measures are flawless. EligibilityAvailabletoPursue: Advanced Infrastructure Automated Machineries Quality Control Department Integrated DemandForecasting & Productionquantity adjustments Digitalizing Purchasing Supply chain enhancementand distribution initiatives Multi-layeredpackaging for easy safety maintenance Strict hygiene maintenancemeasures in productionfacility Product hygiene instructions with each variety of products Strategy-1 Strategy-2
- StrategyExecution: EnsureAffordability:MarketCompetitivePricingKeepingConsumer’sPurchasingPowerin Mind EligibilityAvailabletoPursue: Massive Production Capacity Strong Financial Condition Big Workforce Effective discount offers Consumer- friendly pricing Increase production of most demanding goods to minimize cost Keep hygiene and healthcareproduct in affordable price range for everyone Keep pricing range lower than competing brands Strategy-3 Abdur Rafeu Yead ID: 1811984030
- Post Covid-19 Supply Chain of ACI RenovatingSupplyChain– ‘ADIGITALMOVE’ MajorSupplyChainAdd-on’sAtA Glimpse: Emphasizingonsupplychainenhancementsover e-commercechannels Data-drivendemandwise decision-making Mix-media approach Emphasizing on supply chain enhancementsover e-commerce channels Flexible adjustmentoptions in supply chain operation Raw Materials Warehouse Factory Warehouse Finished Goods E-Commerce Customers Offline Retailers Foreign Local Abdur Rafeu Yead ID: 1811984030
- Rawmaterialshortagedueto supply delayforhighlydemandedFMCGitems BOTTLENECKS BasicProcess-Flow Duetomixmediaapproach, Deliverydelaycausedbylimited deliveryfacility ProcessslowdownledbyProduction plantworkershortage Collaborating with 3rd party delivery service businesses AlternativeRaw Material Suppliers Estimate and recruitnew workers Raw Materials Warehouse Factory Warehouse Customers Online & Offline Retail Bottleneck Bottleneck Bottleneck PossibleFixes: Abdur Rafeu Yead ID: 1811984030
- 1000Units Forecasted customer demandfor hygiene products 1500Units Retailer orders, including safety stock 2000Units Retailer orders, to avail discountsand maintain enough stock 4000Units Manufacturer orders materials to reduce cost andtimely delivery After the lockdown period ends, people will start going out Hygiene and safety will be a major concernas everyone willstart stepping out Demand for sanitizers and other hygiene products should be on peak Overstatingconsumerdemand due to wrong predictive analysis BullwhipEffect! ReasonsAnalysis PostCovid-19BullwhipEffect Abdur Rafeu Yead ID: 1811984030 ActualDemand= 800Units
- Abdur Rafeu Yead ID: 1811984030 Top-Notch Quality& Seamless Delivery Adapting:TQMApproach Continuous flow of improving and maintainingquality from thescratch to top level of theoperations FollowingISO9000Standards This will help to maintain top-notch quality standards in product focusing on bothefficiency and customer satisfaction TrackingImprovements Tracking improvements and scope to upgrade continuously. A real time data centric analysis will help towards a great management
- THANKYOU! Transitioning to the new normal in education. (2020). Retrieved 24 May 2020, from https://www.thestar.com.my/opinion/letters/2020/04/28/transitioning-to-the-new-normal-in-education What will the new normal look like?. (2020). Retrieved 24 May 2020, from https://www.dhakatribune.com/opinion/op-ed/2020/05/19/what- will-the-new-normal-look-like Express, T. (2020). COVID-19 outbreak: Next budget to focus on agriculture, health, mega projects. Retrieved 24 May 2020, from https://thefinancialexpress.com.bd/economy/bangladesh/covid-19-outbreak-next-budget-to-focus-on-agriculture-health-mega- projects-1588747031 REFERENCES
Hinweis der Redaktion
- After covid-19 major impacted sectors will be Economy, Banking, Education, Transport. Besides we will most likely notice several habitual new normal among people. Economy: 1. Bangladesh largely depends on RMG sector for foreign earnings. Currently, since this pandemic this started this sector has been at risk due to economic downturn in our major buyer countries. In coming future RMG dependent export sector might be diversified. 2. According to many analysts Bangladesh will face a short-term economic slowdown. GDP growth rate might fall to 2.2% but this won’t sustain very longer according to experts. 3. Agriculture sector is being affected a lot during this pandemic, Health sector is at big risk. In next few year’s budget, we’ll see a hefty recovery budget focusing on these sectors. 4. Bangladesh has an Insulated Economy. This economy is very less exposed to global supply chain and relatively safer from global economic fallout. Bangladesh has been listed as 9th strongest among 66 emerging economies in this global crisis situation. If correct initiatives are taken Bangladesh can recover this fallout and emerge as one of the South Asian Tiger’s in next 5 years. Banking & Transaction: People will try to avoid congested places as much as possible. As a result, physical banking will be less frequent and many people will switch to alternative. Cashless transaction and online banking will be the new trend. Mobile wallet services and fintech based industries will face massive customer flow and banks will be required to develop strong tech. infrastructure to meet the digital demand of customer.
- Education The ‘New Normal’ days will also make a transition in the education sector. The new normal for education might require us to unlearn what we have always known the only normal such as: rows of seats, heavy bags, physical exams etc. Most likely, we will get introduced the new normal of education. Many institutes will approach to embrace e-learning. 1. Shift of learning space: Many physical classrooms will be replacing virtual classrooms. This might be the biggest change in traditional education sector of Bangladesh. At many extent learning will shift from public space to personal space. Students will still interact with the same learning community but a part of it will transform into virtual. Students will keep up conversations with classmates, teachers and lecturers but a shift in communication channel is upcoming. 2. Introduction of new learning evaluations: Many physical exams might replace formative assessments. Physical exams will exist but additionally students are most likely to habituated with virtual and formative assessments as well. 3. Group learnings in congested classrooms will be unappreciated: This situation has definitely built a concept of safe distancing. Closed classrooms congested with students will be a big concern in educational institutions. It will be required to ensure sufficient safety measures such as sitting arrangements with safe distancing, allotment of more free spaces for classrooms etc. 4. Advent of Online Learning Platforms: Since the Covid-19 breakdown took place, students from all over the country are staying at home and during this time it’s noticeable that many of them are registering courses on online course seller sites like Coursera, Udemy etc. Students are finding these platforms really useful and since they’re getting real certificates it’s encouraging as well. This trend will most likely stay even after this situation ends. Business and Startups: 1. A boom in tech intensive industry will be visible as many businesses will start digitalizing their business. Along with this many IT based startups will be here. 2. Businesses will reduce using super expensive commercial spaces. Many of their activities will adapt work from home approach. They’ll start thinking of lessening the use of office space and cutting down costs just like Twitter has recently announced. Office meetings can be conducted from home with virtual meeting platforms and office arrangement will look different with social distancing. 3. Businesses will hire many remote workers to work from home. Demand of freelancers will rise. 9 to 5 office in white collar jobs might get replaces by flexible work hours staying in home at some extent. IOT based digital transformation will be a new trend in business. 4. Health-care industry will see a rise and their business might see big expansion. Transport: 1. People will prefer personalized ride services like Uber, Pathao etc. Rear seats will be encouraged because of safety. 2. International routes will be limited and restricted for maintaining less vulnerability to this disease. 3. Distance sitting in transports will limit capacity and increase expanses.
- Habitual: Huge habitual transformation might be noticeable among people. Many hygiene maintenance and safety habits will most likely develop. People will try to avoid gatherings and take every possible measure to not get exposed to any infective virus. Along with all new normal, something unpleasant is yet to come. There’ll be short term job crisis as many businesses are slowing down their activities and cutting off employees. Crisis in health services and food supplies might also arrive at some extent. We’ll need sustainable development goals to fight these effectively.
- Consumer buying pattern will face some short-term and some long-term changes significantly. Short term effects might be there for a certain period of time. Such as, people will go to shops less frequently to avoid gatherings and once they go, they’ll purchase necessary supplies in big quantity for some upcoming days so that they need to visit shop a smaller number of times. There’ll be some changes which might stay permanently. Such as, their spending habit will face a big change. Consumers will be more aware of necessary purchases and avoid unnecessary spending. Products for healthy lifestyle will be more appreciated and local brands will gain much reliability among customers.
- My selected FMCG brand is ACI Limited. ACI is one of the largest FMCG brands in Bangladesh with a wide range of product varieties to serve the customer. They have a huge workforce with mega factories to serve customers with quality products. There’re 3 strategies can help ACI to serve consumer better. Strategies are based on Price, Availability & Hygiene.
- Strategy-1: Ensuring Availability & Reachability will be a big differentiator between other brands and ACI. They can make sure the product is available when customers will need and where they will need. By integrated forecasting the demand they need to find out which goods are more required now and accordingly they can adjust production capacity and enhance their supply chain over online and offline to make the product available to every possible consumer touchpoint. Strategy-2: Guaranteed Hygiene initiatives will make sure consumers are purchasing goods which are safer for them. ACI has a dedicated individual quality control unit. They’ll need to take measured so that every raw materials and parts of manufacturing unit is disinfected. Smart packaging will also be a big player in this. Multilayered packaging will make consumer life easy. After purchasing products from local stores, they can store their goods for longer period of time with the use of this multi-layered packaging. With every products hygiene instructions on packaging will be a great awareness initiative. This will make a consumer perception that ‘This is the brand which cares for its consumers’
- Strategy-3: Ensuring affordability for every necessary FMCG products. This is very predictable that, demand for certain types of goods will be at peak and many other brands will increase price to gain traction and piggybank this situation. Whereas, ACI can do the opposite and gain customer trust and loyalty for long term with great service. ACI will need to keep the price same and lower than its competitors. Especially, the demand for healthcare goods will be much higher and price will go high. In this case, they’ll need to increase production and cut down costs to meet the demand maintaining the affordable range. This will make them gaining a large market share and consumer will like the brand who was for them in the time of necessity in a long term.
- The supply chain of ACI will most likely see a digital move. The previous look of the supply chain will remain mostly the same but there’ll be some add on with this. Since the purchasing trend will see a digital trend the supply chain will need to adjust accordingly for sustainability. ACI’s supply chain will take mix media approach and focus on expansion over online channels as well. According to demand fluctuation there will be needed to keep adjustment options available.
- ACI might face 3 possible bottlenecks in their operation: 1. Due to heavy demand they’ll need some raw materials at large quantity and available suppliers might not be able to deliver all within time. ACI might struggle to keep the upscaled production volume due to shortage. Alternative suppliers for supply backup might solve this case. 2.Increasing production will not be possible without increasing workforce. Due to workforce shortage production might slow down during production upscaling. Estimating requires workforce and recruit more can solve this problem. 3. Mix media approach and expansion of supply chain might cause delivery delays with previous delivery facility. Collaboration with 3rd party delivery businesses will solve this problem.
- There might be a bullwhip effect after Covid-19 lockdown is over. For example, people will start going out and as a result they’ll need to use sanitizers or soaps more frequently than home. As a result, retailers might overestimate the customer demand. They might estimate the demand for 1000 units whereas actual market demand is 800 units and this overestimation of demand will affect the product flow through the whole supply chain and ultimately, mislead the company towards purchasing raw materials and producing goods.
- Maintaining up to the mark quality and seamless delivery will be the most significant move as a FMCG brand. They can use following tools and strategies for sustainable maintenance goal: 1. As ACI is a really big manufacturer with mega factories they’re quite capable of maintaining proper TQM approach. This approach will help them to maintain top notch quality and continuous improvements on all level. Dynamic improvement and quality maintenance cycle can take them to their goal. 2.Following ISO 9000 standards will ensure customer satisfaction with efficient production operation with near to perfection quality standard. It will increase productivity along with cutting down unnecessary costs. 3.Tracking improvements and scope of improvements will help to identify issues in a fastest possible time and take corrective actions to resolve. Repetitive feedbacking will also be possible by utilizing this. Additionally, tech intensive inventory management and digitalizing supply and distribution operation can ensure seamless delivery and will be a big breakthrough towards achieving their goal.
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