LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on the supply chain management challenges facing companies in the food and beverage industry.
Right from volatile commodity pricing and inventory management to high demand uncertainty, the food and beverage industry faces a plethora of challenges. An increase in consumer demands, expanding product portfolios, and lengthening supply chains create the need for improving supply chain management. This also compels companies to better warehouse management and improve decision making at all levels of the supply chain.
At SpendEdge, we understand that supply chain management is crucial for companies to strive in the market. Therefore, we have highlighted the key supply chain management challenges facing companies.
Supply Chain Management Challenges in the Food and Beverage Industry
Accurate demand forecasting
An accurate and repeatable demand forecasting process is the need of the hour for food and beverage companies. It helps companies to maximize production efficiency, minimize inventory, optimize distribution and develop better purchasing strategies. However, devising a demand plan could be a challenging task for companies.
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Efficient inventory management
Inventory management could be a major area of spend in the food and beverage industry. Companies must consider unique demand variability, the customer-service target, and lead-time variability of each product to better position their inventory. It can free up capital, boost service levels and help companies to focus on value-added tasks. To know how you can better manage your inventory and stay ahead of the curve, get in touch with our experts now!
Time-phased Replenishment Planning
Companies in the food and beverage industry are increasingly being asked to guarantee a rapid replenishment cycle or manage inventory near to customer locations. They require advanced replenishment planning to develop cost-effective strategies that can enhance customer service levels while reducing costs.
To know more about supply chain management challenges in the food and beverage industry, read the complete article here!
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