8 Ways to Revamp F&B Industry

By CIOReview | Thursday, May 23, 2019

FREMONT, CA: Eight technological trends that are essential for the food and beverage industry to maintain competition in a crowded market are:

1. Implementation of Modern ERP Solutions:

Modern enterprise resource planning solutions have caused significant advances in transformative technologies by incorporating planning, forecasting, and analysis tools. The inclusion has provided agility and added insights from the in-built analytics, which prevent delay in further upgrades. 

2. Customer relationship management:

The modern customer—either in B2C or B2B—has different but higher expectations. Ways to enhance the customer experience and staying connected to consumers in a meaningful way have given rise to several customer relationship management solutions by developing data analysis about past interactions between the consumer and the company. 

3. Human Capital Management:

The modern-day food and beverage company depends on a workforce with a wide variety of skills, from technologists to cluster managers. A human capital management solution can help in the recruitment and retention of the talented workforce as it is a daunting challenge to select talents among a mass of skilled workers.

4. Enterprise Asset Management and Internet of Things (IoT):

The solution to controlling the life cycle of plant machinery and IoT sensor technology gives a competitive edge to a company where the industry runs automated without unexpected downtime. The sensors give early warnings for maintenance or service, leading to an extended life cycle of the machinery.

5. Product Life Cycle Management:

Frequent introduction to new products is the current trend among consumers as they need more customized choices. A modern product life cycle management solution can help to streamline the process as the development of new inventories will upgrade the market.

6. Warehouse Management Solution:

The management of ingredients and finished goods add additional challenges. A modern warehouse management system can create a dynamic solution for fast and efficient handling of products and eventually shorten the time for their conduct.

7. Supply Chain Management:

Modern food and beverage companies require complex supply chains to maintain the status of shipments and freshness of ingredients with a determined processing schedule. An advanced supply chain system allows organizations to implement real-time adjustments to become changer.

8. Cloud Deployment:

Cloud deployment provides businesses an agile and flexible solution by updating software and keeping track of the upgradation.