Under the leadership of Vrijesh Nagathan, Chief Information & Digital Technology Officer, Marico has adopted a data-driven AI framework to identify emerging consumer trends, enhance inventory management, and optimize supply chain operations. By leveraging tools like Generative AI, predictive analytics, and GitHub Copilot for in-house coding, Marico has improved workflows, streamlined processes, and achieved cost efficiencies. Advanced MarTech tools and AI-driven quality control further enable the company to stay ahead of market trends and maintain product excellence.
As Marico continues to innovate with technologies like image-based analytics and machine learning, Vrijesh shares insights into how these initiatives are shaping the company’s operations and preparing it for the future.
Some edited excerpts:
Could you walk us through Marico’s digital transformation journey? What were some of the key objectives, and how did you approach aligning technology with Marico’s broader business goals?
We embarked upon our digital transformation journey in 2019. Anchoring on a data-driven AI framework, we have redesigned our overall IT strategy, in line with our product and marketing outlook from a consumer-centric perspective. We are far better positioned to identify emerging consumer trends.
Deployment of Digital technologies have enabled us to provide more granular and accurate forecasts, improve inventory management and ensure product traceability. Investments in AI/ML technologies have led to cost optimisation, improving decision-making and greater agility in responding to market dynamics and consumer demands. Our foray into Gen AI has helped improve market insighting, efficient workflows, faster turnarounds and employee engagement. We continue to make efforts to build strong digital and analytical capabilities that enable real-time, data-driven decision making to power Digital at Marico.
What are some of the recent digital initiatives undertaken by Marico, and what has been the impact?
We are actively utilizing tools such as GenAI productivity assistants to explore their potential. We have also been leveraging GitHub Copilot for a while, which has proven valuable for our in-house coding projects. Additionally, by leveraging AI-powered predictive analytics, we are optimizing supply chain operations from inventory management to logistics planning, thereby ensuring timely delivery, minimizing costs, and enhancing overall efficiency.
Further, we are exploring a combination of generative AI and traditional machine-learning techniques to enhance our image-based use cases. Our extensive use of data analytics helps identify new trends and enhance existing products. We also employ various MarTech tools to capture emerging trends and market sentiments, enabling us to remain ahead of the curve.
How does Marico leverage advanced analytics to understand consumer preferences? Could you share examples of how data-driven insights have shaped product or marketing strategies?
We use data analytics extensively to identify new trends. Next-gen analytical tools & platforms are explored to capture emerging trends and sentiments. This data is then analyzed to uncover patterns and insights about market dynamics, consumer preferences, and potential opportunities. These insights are shared with various functions, enabling them to stay ahead of trends and adapt our strategies accordingly. This integrated approach allows us to remain competitive and responsive in a fast-changing market.
Recognizing the immense potential of AI, we aim to enhance operational efficiency, drive innovation, and deliver exceptional value to our consumers. With AI-powered predictive analytics, we’re revolutionizing supply chain operations by enhancing inventory management and logistics planning – to accelerate delivery times, lower costs, and improve overall performance.
Moreover, we are exploring technologies such as computer vision and machine learning to automate quality processes and detect defects, ensuring compliance and maintaining the highest standards of product quality. This holistic integration of AI across our operations is driving transformative growth.
AI-driven quality control is transformative. How has Marico incorporated AI to ensure consistent product quality, and what measurable improvements have resulted?
The convergence of AI assisted Code generation, review & corrections, marks a pivotal moment in app development, where complexity yields to accessibility, creativity, and efficiency. This convergence enables companies to swiftly adapt to market demands, innovate their product offerings, and enhance user experiences like never before. AI amplifies capabilities, enabling companies to harness data insights for personalized user experiences, predictive analytics, and smarter decision-making. We are investing in technologies that allow us to better understand and anticipate market needs, ensuring our products and services remain relevant and innovative. By leveraging AI, and other emerging technologies, we aim to streamline operations, improve efficiency, and maintain our competitive edge in the market.
As Marico continues its digital evolution, what future trends or technologies are you most excited about exploring to further enhance Marico’s market position? Can you also share with us some of the future digital initiatives planned?
As we continue our digital evolution at Marico, we look forward to exploring future trends and technologies that will further solidify our market position. We’re keenly watching advancements in GPU led computing, Gen-AI, and machine learning, which will enable us to be more effective across all the functions. We are relentlessly raising the digital quotient across the value chain to make Marico future-forward. By innovating, incubating, and scaling, we are fast-tracking a digital culture throughout the organisation and are aligning our digital strategy with our business priorities to ensure that we win among evolving consumer aspirations and marketplaces.