Bill Forster, EVP Food & Beverage, Maine Pointe outlines how disruptive technologies are presenting the food and beverage industry with an unprecedented opportunity to improve margins, reduce waste and meet changing consumer demand.
The food and beverage market has always been fiercely competitive. Pressures around changing consumer behaviors, ingredient visibility, rising operational costs, production efficiency, and product quality form a complex operating environment for the industry as a whole. The modern supply chain depends on real-time data to operate efficiently. Survival is about complete visibility and having the agility to capitalize on a rapidly changing market. It’s about smart use of new technologies to create a demand-driven end-to-end digital supply chain. Organizations need to embrace innovative technologies that help optimize daily operations and hone profit margins.
In light of strong growth predictions for the global commodity market in 2018, Rex Clothier, EVP Strategic Procurement at Maine Pointe, considers the steps CEOs need to take now to protect margins and enhance EBITDA growth.