LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on top supply chain management challenges facing companies in the food and beverage industry.
Companies in the food and beverage industry face a plethora of logistics and supply chain management challenges. The volatile commodity prices, regulatory norms, new entrants in the market, and complex manufacturing constraints further add to the woes of the company. Such challenges lead to a reduction in sales, profit margins, and customer loyalty. Companies must understand the consequences of bad supply chain management in order to devise effective supply chain strategies.
At SpendEdge, we understand the role of supply chain management for companies. Therefore, we have highlighted some of the major challenges to help companies strive in the competitive food and beverage industry.
Supply Chain Management Challenges in the Food and Beverage Industry
Accurate demand forecasting
Accurate demand forecasting is extremely crucial for companies in the food and beverage industry. It helps them to develop a demand plan and maximize production efficiency, minimize inventory, optimize distribution, and streamline purchasing activities. Accurate forecasts also help companies to improve global supply chain management.
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Efficient inventory management
Inventory management is an extensive cost-consuming process. Companies must effectively design their supply chains, improve customer service levels, and enhance product quality in order to better manage the inventory. Leveraging inventory management solutions can help companies to free up capital and focus on value-added tasks. To know top companies manage their inventory, get in touch with our experts now!
Planning of sales and operations
Sales and planning operations primarily focus on balancing and aligning the supply and demand of the company. Improving sales and operations processes can help companies to reduce time to market, streamline the cycle of planning, and complete multi-divisional analysis. It can enable companies to develop contingency strategies and pre-empt competition when market situations change.
To know more about supply chain management challenges in the food and beverage industry, read the complete article here!
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