FMCG companies advocate data, AI-driven supply chains

Fast-moving consumer goods operators have called for the deployment of data, technology, and artificial intelligence to develop stronger supply chain solutions, improve customer service, and drive regional competitiveness across West Africa.

The stakeholders made the call at the Route to Market West Africa Summit held in Lagos on Friday, where industry leaders converged to discuss strategies for strengthening integrated supply chains and enhancing innovation within the FMCG sector.

The summit, themed “The sovereignty of scale and how mastering integrated supply chain helps companies create regional dominance,” brought together key players in the industry to examine emerging trends and challenges in supply chain management across African markets.

Speaking at the event, Mr Godson Nkeokelonye, Convener and Managing Director of Excite Panacea, stated that the summit was established as a strategic platform to align stakeholders across the FMCG ecosystem and address the realities of operating in African markets.

According to him, the gathering provides an avenue for industry leaders to explore innovative route-to-market strategies and tackle the evolving complexities of supply chains on the continent.

He said, “The Route to Market West Africa Summit is a strategic platform designed to bring together and align key stakeholders across the FMCG ecosystem. It provides an opportunity for industry leaders to address the unique realities of African markets, explore innovative approaches to route-to-market execution and navigate the complexities and evolving dynamics of the continent’s supply chains.”

Nkeokelonye identified market fragmentation as one of the biggest challenges facing supply chain operations in Nigeria, stressing that businesses must remain flexible as market conditions continue to evolve.

“Businesses have to be continuously adaptable and responsive to these dynamics and the rapid changes shaping the marketplace,” Nkeokelonye said.

Also speaking, the General Manager of Excite Panacea, Mrs Eniola Alli-Ayodele, urged organisations to move beyond merely collecting data and focus on extracting actionable insights capable of improving operational efficiency.

“Organisations must leverage data to generate meaningful insights. Taking it a step further, the question becomes: how are you applying artificial intelligence to the data you have in ways that enable you to serve customers better, optimise operations more effectively and ultimately achieve supply chain excellence?” Alli-Ayodele said.

The Chief Executive Officer and Director of Bhojsons Plc, Mr Narendra Nagarkar, described supply chain management as a critical component of business growth, noting that companies must continue to strengthen their value chains.

“Supply chain is not just managing facts; it is the entire value chain which takes you through procurement to reach the consumer and keep the consumer happy,” Nagarkar said.

He added that data integration and data analytics represented one of the most significant innovations transforming supply chain management.

“People and companies have started realising the importance of data, what data actually is and the value of data. I think that is the biggest change that we have seen,” Nagarkar said.

Similarly, the Managing Director of Bralico-Groupe Castel-Afrique, Mr Mario Russo, said trust remained a vital asset within supply chains, while data, technology and artificial intelligence could unlock new opportunities and improve decision-making across the industry.

Russo commended the organisers of the summit, saying, “It is really insightful in building a strong ecosystem in the industry. It’s an amazing start, and I hope we continue to grow in the next few years.”