From a global pandemic, supply chain disruptions, labour shortages, shifting consumer demands, food safety and environmental regulations, and everything else in between, the food and beverage industry has seen a dramatic change in landscape. The ever evolving marketplace is showing no signs of slowing down either.
- Sustainability is still the top trend to prioritise over the next year for respondents, with almost 40% selecting it as the most important, right ahead of waste reduction (34%) and food safety (32%).
- Inflation was chosen as the most crucial risk to mitigate, with 37% of respondents indicating it was a critical consideration, but changes in consumer demands was right behind it at 36%.
- Roughly 75% of respondents have seen KPI improvements across the board as a result of digital transformation initiatives with a further 45-55% of food and beverage companies expecting to see greater improvements in the next year.
- Companies using food and beverage specific ERP saw a 5.3% increase in revenue compared to the 2.9% increase in revenue seen by companies using a generic ERP.