Innovation is the process whereby ideas generate value, both economic and social. Innovation is instrumental in delivering the productivity and necessary tools to tackle the challenges businesses such as ours often face. We innovate in several different areas of our business.
Innovation in our production processes plays a critical role in our operations. We continually strive to find new ways to simplify processes for efficiency and simplicity. We have made significant advancements in the area of automation, as we constantly aim to produce more within the same physical footprint and reduce the level of manual intervention from the time we receive our raw materials to the time we pack our finished goods, to continually deliver products that are produced to the most exacting standards of health, safety and hygiene.
In terms of product innovation, as one of the largest consumers of industrial raw materials in the biscuits and confectionery industries, we have access to research and development tools that most of our competitors don’t. We operate our own trial production labs for new product development and testing and have wide access to our partners’ product innovation labs across the world. This access allows us to develop and launch new products with a local flare to meet the palate of the Bangladeshi consumer. This also allows us the ability to continually develop and improve our existing product range.
Product innovation leads to marketing innovation. Having the right, dynamic mix of innovative products for our consumers allows us to, in turn, create innovative marketing campaigns with these new features. Olympic aims to continually invest in innovation to continually make ourselves better, and to ensure our sustainability, by following best practices and by making sure that we remain ahead of our domestic and international peers.