The Fast-Moving Consumer Goods (FMCG) industry faces countless challenges due to market volatility, fierce competition, changing costs, new business models, and fast-changing consumer expectations.
For FMCG brands, a comprehensive POS Trade asset management process can help organisations face these challenges while improving their assets’ utility, maximising brand exposure and successfully managing P&L expenses in the process.
Asset management platforms are critical for enabling you to run your operations effectively by managing the entire asset lifecycle, from purchasing, branding, warehousing, the setting up phase, pre-delivery checks and logistics to in-field reactive and planned maintenance.
How Is Asset Management Software Beneficial for FMCG Brands?
Asset management is pivotal for any business that invests time, money, and resources into preserving and presenting its consumer products. Chances are, each moveable point-of-sale asset is critical, with asset downtime leading to loss of product and a major impact on day-to-day business operations and sales.
Most FMCG industry brands promote their products inside retail stores using assets such as display refrigerators, freezers, food warmers, vending machines and digital signage.
For example, Red Bull refrigerators are a common sight in retail stores, serving the primary goal of selling their product while promoting their brand to new and existing customers and keeping their product cold for consumers to enjoy.
Let’s say a refrigeration unit has an issue that needs to be sorted out urgently. You need to quickly locate the faulty equipment, issue a service request, potentially order a replacement part, and remove the bottleneck without affecting the bottom line and the workflow. This is impossible to achieve at scale without a comprehensive asset management system in place.
Point-of-sale assets must be monitored regularly, as evidenced by three critical factors that impact profitability within the FMCG industry:
- Safety and Relocations: Moveable assets can be an easy target for theft and are vulnerable to accidental or deliberate displacement. Monitoring these assets with a system that supports geo-tagged locations and complete tracking of asset movements is pivotal for a successful relocation and prevention of asset displacement.
- Ensuring Product Quality: There are cases when unmonitored refrigeration units unexpectedly turn off or deviate from their ideal temperature range. This can significantly impact the quality of perishable products and negatively affect consumer experience. A system that can track connected assets, Internet of Things (IoT), will instantly detect performance faults and can trigger automated workflows to rectify the problem.
- Preventing Asset Misuse: FMCG brands can also face misuse of their assets, mostly from brand contamination where competitor branded products are displayed in their free on loan display merchandisers. This compromises brand merchandising standards, display planograms and brand value. By capturing service data and asset images through asset management software you can ensure that your assets are being deployed to best promote your brand.
So, are there any software solutions on the market that can provide you with all the benefits listed above and much more? The answer is a resounding yes!
There are countless benefits for FMCG brands using mendrhub as their complete end-to-end asset management software. With mendrhub you are not just investing in a powerful asset management platform built for moveable mission-critical equipment, you are also investing in a digital transformation bringing you the very best in automation, data-driven intelligence, and efficiency.
- An integrated platform: The mendrhub platform embraces cutting-edge technologies and dashboards designed to make managing your asset fleet easy by enabling continuous improvement within your business.
- A complete self-service system: Giving you unlimited support that is always there when you need it, mendrhub lets you take control and make the changes you need when you need them.
- Real-time data and analytics: You can collect rich data and use mendrhub’s comprehensive, actionable data visualisations, reports, and business intelligence to deliver continuous value for your FMCG brand.
- Interconnected systems: mendrhub allows you to integrate any third-party ERP & CRM platforms by using an out-of-the-box API and webhook configuration to help you automate workflows and redefine business efficiency.
- Customer app and service requests: Your customers can log and track service & logistics requests through the mendrhub online portal or a dedicated custom-branded mobile app.
- Equipment troubleshooting self-triage: Your customers can undertake self-triage diagnostics via a custom branded booking app, with the rules easily adjusted through a powerful, configurable tool that embeds business knowledge.
- Contractor management and risk mitigation: You can manage compliance, site inductions, accreditations, COVID-Safe Plans, insurance, skills, geographic coverage, business hours, rates, van stock and more.
- Field and workshop repairs and refurbishments: Mobilise your technicians, third-party contractors, auditors and field managers on a single platform, empowering them to manage all requests from start to finish while on the go.
- Scheduled field and workshop repairs: With mendrhub, you can schedule recurring, auto-dispatched workshop activities and repair jobs ahead of time to service your equipment and arrange other required services on a proactive basis.
- Scheduled asset movements: Manage asset pick-up, delivery and swap-overs across outlets and warehouses, with customers able to request preferred times and logistics providers able to attach proof of delivery for auditing purposes.
mendrhub is all of the above and so much more!
It’s context-rich embedded intelligence that operates through a seamless user interface, simplifying complex processes and providing you with powerful data that helps you to continuously learn from and improve your business operations.
We provide asset management solutions that fit the requirements of any industry, including FMCG, Quick Service Restaurants, Equipment Manufacturers, Equipment Distributors, Fleet Asset Managers and Equipment Service Providers.
We’d love to show you how mendrhub can help you reach your asset management goals. Contact us today to book your personalised demo, and we’ll be in touch promptly.