The global fast-moving consumer goods sector is rapidly evolving driven by the increasing of consumer sensitivity to personal care products. Innovative ideas that supporting continuous improvement program continue to emerge in accordance of the challenges that businesses need to overcome. These ideas are then developed, resulting in time-bound investments. This later become a challenge for decision-makers in prioritizing investments, given their financial constraints in advance. Financial evaluation is less effective for investments with intangible benefits, such as addressing customer complaints, improving product quality, new product innovation, or investments with social impact. This study aims to identify appropriate investment prioritization strategies that address both business objectives and policymakers' considerations. The method used is multi-criteria decision analysis, a comparison of the technique for order preference by similarity to ideal solution (TOPSIS) using euclidean distance and manhattan distance, considering both financial and non-financial criteria. The study using the expert judgement for sub-criteria with more than 10 years of experience in personal care industry within operational and financial sector. The sub-criteria using in this study are net present value and payback period for financial criteria while the sub-criteria for non-financial criteria are new innovation impact, quality improvement result, recall likelihood and social impact. With the criteria ratio based on focus group discussion with the expert stated financial is 70% against non-financial 30% consideration, the final result show that investments priority using euclidean distance TOPSIS is the same as manhattan distance TOPSIS.

Keywords

Investment, Personal Care TOPSIS, Euclidean Distance and Manhattan Distance.