Authors: Manas Wagh, Naresh Aiwale, Atharva Zadbuke
Abstract: In the FMCG industry, companies need to control expenses while making sure products and raw materials are always available on time. Due to increasing competition, changing customer preferences, and fluctuations in raw material prices, managing procurement costs has become very important for organizations. This study explains how strategic sourcing and bulk purchasing help FMCG companies lower procurement expenses and improve operational performance. Strategic sourcing focuses on selecting dependable suppliers, negotiating favorable contracts, building long-term supplier relationships, and improving purchasing decisions. Bulk purchasing helps companies buy materials in larger quantities at discounted rates, which reduces ordering and transportation costs. When these two methods are used together, companies can manage inventory more effectively, improve coordination with suppliers, and increase overall profitability. The study also discusses how FMCG organizations use these procurement strategies to maintain product quality and ensure uninterrupted supply of goods while reducing overall costs.
DOI: https://doi.org/10.5281/zenodo.20323541
