Mumbai, July 3 (PTI): FMCG major Hindustan Unilever (HUL) today said it had adopted a continuous 12-monthly planning cycle and scrapped its earlier system of annual plans to counter high volatility in input costs.

“We have done away with the earlier system of annual plans and moved to a continuous 12-monthly planning cycle. This enables us to manage the business more dynamically than in the past,” HUL chairman Harish Manwani told shareholders at the company’s 76th AGM here.

Manwani said it had become extremely critical to plan the business dynamically, given the tremendous volatility in input costs in the past few months.

The company has also launched a “relentless drive to reduce working capital and capital expenditure without cutting back on innovation and growth-yielding expenditure”.

The Anglo-Dutch company, which now has 1,200 stock keeping units, will also do away with under-performing units.