The Fast Moving Consumer Goods industry covers the household items that you buy when shopping in the supermarket or a pharmacy. ‘Fast moving’ implies that the items are quick to leave the shelves and also tend to be high in volume but low in cost items.
The products are ones that are essential items that we use day in and day out. This multi-million dollar sector holds some of the most famous brand names that we come across every single day.
FMCG companies are identified by their ability to give the consumer the products that are highly demanded, while also developing a relationship with them that involves trust and loyalty.
Household products such as those used in cleaning and laundry, over the counter medicines, food items and personal care goods make up the majority of the FMCG industry. However, products such as plastic goods, stationery, pharmaceuticals and consumer electronics are also placed in fast moving consumer goods.
At the moment, the Fast Moving Consumer Goods Industry has a value of over $570.1 billion. 2015 was said to have been one of the best for the industry. In the UK, the government has invested over £11 million worth of funding into food technology. This has ensured that the UK becomes a secure leader in the food technology market throughout the world. This new funding helps guarantee that new technologies and processes are developed in order to heighten the efficiency and also reduce waste.
Why Work in FMCG?
- The FMCG industry helps create in demand consumer products at a low cost that are readily available. This means that the types of products in this industry are surrounding consumers every single day. Everyone is a consumer, so it gives you something to identify with.
- The companies involved in the FMCG industry are some of the biggest brand names known around the world. These include Procter & Gamble, Unilever, Nestle, Kraft and Johnson & Johnson. Working with these companies on brands such as Kit-Kat, Neutrogena, Ariel and much more can be a great opportunity.
- Innovation is a consistent process in the FMCG industry. They continually need to come up with new packaging ideas, marketing, advertising and communications aimed at the consumers. This makes it the perfect industry for someone looking to work in a fast paced and innovative work environment.
- There are also a number of good employment prospects in this industry. Even during the recession, the FMCG industry still carried on profiting well. As retail is the largest private sector employer in the UK, there are a huge number of graduate retail jobs available. Since 2012 there has been an increase of 11.5% of graduate retail jobs made accessible.
- The FMCG industry is dynamic and diverse, which makes it welcoming for graduates from any degree background. It doesn’t matter what degree you studied, as there are so many different opportunities available in the industry.
Types of Job Roles in FMCG
There are a number of different job roles obtainable in the FMCG industry as it is so dynamic. These are a few examples of potential jobs working in fast moving consumer goods.
- Health and Safety Manager
This role involves maintaining current processes to a high level to meet the standards required for the business. It requires the individual to bring new ideas to help reinvigorate the current training processes. Reporting to a general manager, the individual will coordinate the Heath and Safety systems so that they effectively comply with the legislation and business requirements.
- Sales Manager
Sales managers are required to grow the existing business and develop a wider customer base. This could be just in the UK or involve Europe as well. It is about balancing the controlled and profitable growth, service and delivery and management.
- Stock Control Manager
As a Stock Control Manager, you will be responsible for distributing the correct levels of stock internally. Individuals will also have to keep an updated stock control process to ensure optimal product levels across the whole network. Setting and monitoring the stock levels is essential in order to meet the targets set. It is important that the internal processes affecting stock distribution are followed through.
- Procurement Analyst
Procurement Analyst’s must have a deep understanding of the business and suppliers in order to give an in-depth analysis of the businesses spend across a number of different areas. They are required to analyse and interpret technical data to report to the Operational Procurement, Procurement Development and Category Teams. This is so that they are able to drive quality control, maximise their efficiency and also give an insight into how the business is performing.
- Head of Sourcing
This job role requires individuals that help to deliver the companies strategic plan at the lowest cost possible, while still maintaining the agreed quality and standard. The main goal is to maintain sourcing benefit in the supply-chain to keep a competitive advantage for the business. Pro-active sourcing can help drive supply and management.
Top Five FMCG Companies
- H.J.HeinzIn 2013 Heinz had the highest penetration of all FMCG brands at 90.6%. They were one of the most frequently purchased brands, averaging at around 16 purchases.
- Coca- ColaResponsible for brands such as Diet Coke, Fanta, Sprite and Coca-Cola. These are some of the most well-known brands in the world with consumers drinking around 1.8million servings every day.
- Johnson & JohnsonThis company has over 250 subsidiary brands with operations in over 57 countries around the world. Their products are sold in over 175 countries and accounted for worldwide sales of $65 billion in 2011.
- UnileverThis company provides food, beverages, personal care products and cleaning products. It is said to be the world’s third-largest consumer goods company based on its revenue in 2012.
- NestléThis is the largest food company in the world measured by its revenue. Over 29 of its brands have annual sales of over $1.1 billion. These include Smarties, Nesquik, Vittel and much more. Nestlé has over 447 factories and is operating in over 194 countries.