Procter & Gamble India (P&G India), the parent company of well-known brands such as Gillette, Whisper, and Vicks, has introduced the ₹300 crore ‘P&G Supply Chain Catalyst Fund.’
Unveiled on Thursday, the initiative is designed to collaborate with third-party firms and startups with the goal of co-developing solutions for a modern supply chain ecosystem.
The fund is focused on various facets, including supply chain optimization, digitization, capacity expansion, and sustainability, all aimed at rejuvenating P&G’s supply chain operations, as outlined in a company statement.
A part of P&G India’s ‘vGROW’ program, the project was initiated six years ago. The program is dedicated to forging partnerships with startups, small enterprises, individuals, and larger corporations that offer business solutions beneficial to P&G’s operations in India. To date, the program has committed investments totaling ₹1,800 crore.
“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,” LV Vaidyanathan, CEO, P&G India sub-continent, said in a statement on Thursday.
“With this fund, we have committed spends of more than ₹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,” he said.
Through the vGROW platform, P&G collaborates with over 2,300 suppliers, ranging from startups and small businesses to large organizations across diverse industries and services, including creative agencies, technology partners, and material suppliers. As a testament to their commitment to innovation, last year, P&G announced the ₹200 crore ‘P&G Technovate Fund’ to address business challenges by harnessing technology in partnership with both existing and new external suppliers.