Can you overcome the four major challenges facing the food and beverage industry?
Addressing these challenges will help you figure out if your business is compliant, accountable, ready for recalls, and able to maintain consistent product quality.
Achieve compliance, while managing costs
Keeping up with stringent and changing regulation, especially the Food Safety Modernization Act (FSMA), can be a headache for many food and beverage businesses—and no element of the FSMA will have more impact than the “One Step Forward and One Step Back” traceability requirements. You need to invest in efficient and accurate tracking along your supply chain in order to comply, but this can be costly and time-consuming to implement.
Prepare for possible recalls
According to a study by Ernst & Young prepared for the Grocery Manufacturers Association, 81% of food and beverage businesses see the financial risk from recalls as significant to catastrophic. Making sure you're prepared for possible recalls isn't just important—it's imperative. So you'll need to invest either time or money in the right technology and in updating your systems and business processes.
Maintain consistency—even as the market changes
At the same time, customers expect consistency even as supply, demand, and the marketplace itself changes. It's challenging to stay in control, keep costs down, and retain flexibility for reacting to these changes, but you can overcome it with the right solution.
Satisfy consumer demands for accountability
Thanks to a wider awareness about the impact of waste on the environment, consumers expect food and beverage businesses to become more accountable for supply chain and their operations. To meet these demands, you'll need more access to real-time data and ability to transform your company into a more flexible operation. Only then can you please customers and avoid lost sales.