Procter & Gamble India (P&G India), maker of brands like Gillette, Whisper, Vicks, etc., on Thursday announced a Rs 300 crore ‘P&G Supply Chain Catalyst Fund’ to collaborate with external partners and innovators, in co-creating solutions that accelerate its journey towards Supply 3.0. “This fund will provide an opportunity to start ups and innovators to collaborate with P&G on business solutions customized to create the next level of supply: a supply chain that provides greater agility, flexibility, scalability, transparency and resilience,” the company said in a statement.
The announcement is in line with the Prime Minister’s Gati Shakti initiative, which is an endeavour towards multi-modal connectivity in the country that will enhance seamless movement of goods and services through targeted interventions, it added.
P&G India’s strategic investment will encompass an array of initiatives, including supply chain optimization, digitization, capacity enhancement and sustainability, all designed to catalyze the company’s supply chain prowess. This new fund is part of P&G India’s ‘vGROW’ program that focuses on identifying and collaborating with start-ups, small businesses, individuals, and large organizations offering innovative industry-leading business solutions.
The company also launched the sixth edition of ‘P&G vGROW External Business Partner Summit,’ to be held from September 28 to 29, 2023. The Summit offers a platform to existing and new suppliers, in partnership with Incubate Hub, to pitch their solutions to P&G India’s leadership team.
LV Vaidyanathan, CEO, P&G India Subcontinent, said, “We are as committed to the nation’s progress as we are to serving consumers with superior products every day. With the ‘P&G Supply Chain Catalyst’ fund, we are focused on co-creating innovative solutions that enhance the very backbone of our operations – the supply chain. We are confident that focused interventions in the supply chain will have a positive impact on our overall priorities including constructive disruption and productivity.”
He added, “Six years ago, we launched ‘vGROW’ – with the vision to create a platform to foster collaboration and partnerships with external partners and suppliers, to solve business challenges and provide a breeding ground to emerging startups across the country. With this fund, we have committed spends of more than Rs 1800 crore to date in business solutions through vGROW. We strongly believe that a healthy dissatisfaction with the status quo will help us raise the bar on constructive disruption and better serve consumers, customers, and communities.”
Through vGROW, P&G engages with over 2300 suppliers including start-ups, small businesses, and large organizations from a wide range of industries and services – from creative agencies to technology partners to material suppliers.
In partnership with WEConnect International, P&G India also conducted the next edition of the Women Entrepreneur Development Program (WEDP). About 30 women entrepreneurs, who were selected via an application process, graduated from the two-day program aimed at their capacity development. “As part of the program, senior leaders from P&G conducted training and workshops with real-time case studies covering various aspects of building a sustainable business including professional skills like business strategy, finance capital, new customer outreach and more, including strategic inputs for driving business growth,” it said.