The FMCG company headquartered in South East Asia and operating in 50 countries is a leading producer of beauty and personal care products.
With a strong emphasis on research and development, the company has developed a wide range of innovative products that cater to the diverse needs of consumers. The company’s commitment to quality, sustainability, and social responsibility has helped it establish a strong brand reputation and a loyal customer base.
One major challenge faced by an FMCG company was the lack of digitization in their supplier network. The company’s manual and paper-based supplier onboarding process, slow multi-stage approval, and unclear compliance requirements resulted in long response times, higher costs, duplicate records, and lower margins.
This inefficient process made it difficult for the company to quickly and accurately onboard new suppliers, leading to delays in product development and distribution. Additionally, the lack of visibility into the supplier network made it difficult for the company to identify areas for cost-saving or to track compliance with regulatory standards.
The #dltledgers solution addressed the challenge of a lack of digitization in their supplier network by developing a simple and easy two-click digital onboarding process for their suppliers.
The Onboarding process clearly structured the full standards for adherence and provided periodic reminders to suppliers on compliance. This streamlined approach significantly reduced the time and cost of onboarding and helped increase compliance with sustainability standards.
The use of blockchain also improved the trust in sustainable reporting and practices, resulting in helping the company achieve their sustainability goals.