F&N
KUALA LUMPUR: Fraser and Neave Holdings Bhd
(F&N) is rolling out an inventory management project to cut costs, as it expects a challenging 2017 market with escalating commodity prices and a weakening Ringgit.
It said on Thursday the project could boost sales of up to RM300mil in the coming years by re-evaluating its product and packaging, warehousing and logistics.
The exercise started as a pilot project in the country's northern states in October 2015.
Group chief executive officer Lim Yew Hoe said the project would focus on optimising the number of stock keeping units in each of F&N's product categories while relooking just-in-time production to cut out unnecessary inventory and logistic costs.
New product packaging strategies will also be introduced to cater to specific consumer needs in the hotels, restaurants, cafes and industrial sectors.
"We will move away from the one-size -fits-all concept to customise our packaging and also our product offerings.
"Our focus for the Year will be to capture value from the exercise," he said in a statement.
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