Mumbai: Consumer goods major Hindustan Unilever (HUL) has created a full-fledged end-to-end digital transformation programme that will redefine the ways of working.
At present, over 80 experiments are underway to accelerate the company’s journey on digital transformation, HUL told shareholders on Saturday.
The company has set up a digital council comprising a cross-functional team of leaders, for its ‘Reimagining HUL’.
“With the world changing at a furious pace, we are continually adapting to remain future fit. We will continue to leverage Unilever’s global knowledge and our deep local understanding to serve our consumers better, be it through path-breaking innovations or our expertise in new channels,” chairman and managing director Sanjiv Mehta said in his address to shareholders at the 86th AGM.
On the FMCG sector, Mehta said faster economic growth and technological changes provide an exciting future for the industry.
“Despite being one of the fastest-growing markets globally for FMCG products in recent times, the per capita FMCG consumption spend in our country is still among the lowest in the world, giving the sector a long runway for growth.
“Key factors such as rising affluence, changing family structures, emerging new large cities and a young working population will positively impact the growth of the industry,” he said.
He noted that if the country can bend the growth curve and deliver a consistent growth rate of 9% and above, it could transform into a $10 trillion economy by 2032.
On the rapidly evolving technology and its use in workplaces, Mehta said, “Re-skilling of our workforce will become a national priority. Machines will augment human cognition and it will be imperative for companies to optimally leverage human talent and machines at the same time”.
He noted that HUL’s focus is on reimagining itself from the lens of portfolio, organisation, capabilities and culture.
“We are clear that we do not want to simply follow, we will lead the change,” he underlined.
“At HUL, we are creating a culture that embraces diversity, inclusiveness, and our founders mindset and experimentation.
“We have a five-pronged strategy to continue to drive purpose into our brands and enhance societal impact, build a future-fit organisation, nurture talent in the new age, innovate for the future, and reimagine the business across the value chain by leveraging data and technology,” he concluded.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed