Overcoming the Obstacles in the FMCG Sector in Singapore

Fast-moving consumer goods (FMCG) is one of the vigorous industries in Singapore and is on the run continuously adapting to the market demand of Singapore. Being this sector as colorful as it is, it has its own distinctive challenges. It is worth mentioning that there are some challenges that FMCG face exclusively while there are others that build common ground with the challenges of other sectors. These challenges are understood as the basic ones both for the market and the firms that intend to operate there successfully.

FMCG Industry: Unique and Common Challenges

One of the essential elements that make the FMCG industry in Singapore super exciting is the approach toward the solution of challenges that require unique thinking different from those followed by other industries. The first one is the short product lifecycle that leads to the conversion of stock at a rapid rate. This necessitates warehousing management that is not only efficient but is also able to make quick decisions to cut waste and ensure the supply is guaranteed.

Not only do these challenges apply to the FMCG sector but other industries in Singapore do as well. For instance, the talent short market creates a severe obstacle for the FMCG sector to attract & retain starters while also managing the talent pool and supply chain. On top of that, upholding regulatory compliance still is a major obstacle for the firms amid the new laws and protocols that are imposed through local policies and international law. Therefore, the firms implementing the solutions need a high level of skill and experience.

HCM System as a Solution for Industry Issues

Human Capital Management (HCM) systems play a key role in solving the FMCG industry challenges in Singapore as they are equipped to provide the needed technology and skills for the manufacturing sector. These are high-tech instruments that not only help to manage human resources but at the same time proffer total management of all operational processes in the firm. Therefore, they are not only a solution but a complete answer to the challenges faced by the rapid FMCG industry progress in Singapore.

HCM systems are the backbone for proper management of the workload and human resources in the FMCG sector in Singapore. That is to say, it is through these systems that HR managers achieve compliance with local laws and avoid penalties incurred through breaches. In addition, superior HCM software patents help automate rosters, payroll, and print receipts, thus freeing time for firms to put innovation in product development. The self-learning AI elements provide a time-lapse advantage, facilitating the FMCG sector to be in step with the season’s trends and thus meeting the needs of the challenging market in Singapore. Hence, the employment of HCM system directly carries out the process of boosting the operational and sales functions.

The Successful Strategy for HCM Installation

The installation of HCM software is not only a change of technology but the basis of the transformation. In order to operate at full potential, firms must first be certain that the HCM can serve their strategic goals.100% sure involvement of every stakeholder in the HR and the operational matters through their engagement and involvement discussion is a must.

These activities should be backed by systemic training programs to equip the staff at all levels to utilize and operate the system with confidence. Companies, on their part, should not be forgetful of the fact that the best way to achieve the desired results is to continuously assess and evaluate the performance of the system and hence, allow for modifications of implementation of systems.

Multiable HCM System for the FMCG Industry in Singapore

• Rule-Based Workflow Engine: Focuses on the human resources which are often under pressure due to high administrative workloads, hence no distraction gets the most efficiency from the processes.

• Intelligent Roster Planning: Uses optimal staffing allocation to better position the firm for high and low flows of labor demand.

• Fully Customized Payroll Formula: Guarantees the payroll format is specific to the needs of the business thereby lessening discrepancies.

• ISO:27001 Certification: Becomes the means of solid data protection that is necessary for managing critical employee data.

• Department/Position/Grade Sensitive Appraisal: This strategy customizes performance appraisals for specific job roles and promotes employee commitment and development.

Multiable HCM‘s Inc., Compliance Assurance in Singapore’s Environment

In the maritime state, Multiable HCM has carved a name for itself, as it meets the tough compliance requirements outlined by the Inland Revenue Authority of Singapore (IRAS). A software that, among others, is VERIFIED by the Auto-Inclusion Scheme for Employment Income Software Category of Compliance to Controls, has shown that Multiable is the right hand for the FMCG and other industries for regulatory purposes.

What is Multiable HCM?

Multiable HCM is a cloud-native HCM (aka HRMS, HRIS or HR system). With over 6,000 customers, Multiable HCM gains positive feedbacks from customer across different sectors, from manufacturers, distributors, retailers, service providers to NGOs. The renowned no-code approach saves customer a big sum of customization costs and countless hours of implementation man-days.

What is LAIDFU (Let AI Do for You)?

LAIDFU is an AI tool for enterprise to build their own AI agents to perform various business AI tasks.

Proprietary EKP (Enterprise Knowledge Partitioning) technology eases CEO’s concern about trade secret leakage which often occurs in most AI agents / chatbots in the market.

EKP removes the hurdle of business AI adoption by most companies in using sensitive corporate data.

Powered by no-code approach, deployment of LAIDFU incurs far less developers (and development costs) in comparison with other AI tools.

LAIDFU empowers business, with or without an HCM system in place.