The food and beverage industry deals with narrow operating margins, rapidly changing customer preferences, and highly perishable items on a daily basis. Although current supply chain management (SCM) tools provide food and beverage executives more visibility to help them quickly adapt their companies to changing conditions, today’s globally competitive market demands an even fresher, more innovative approach.
Food and beverage manufacturers need to implement new processes, systems and IT tools to achieve real-time visibility into what ingredients and materials enter their operations as well as the resulting products. With new forecasting capabilities and pricing insights, food and beverage manufacturers can improve inventory management, lower costs and boost margins throughout the supply chain.