To establish a firm foundation for success, food and beverage companies must implement solutions that use supply chain artificial intelligence. As a food manufacturer, you face a big list of tough supply chain challenges including long raw material lead times, volatile commodity price fluctuations, safety and quality issues, demand uncertainty and seasonality, high promotional activity, product perishability, frequent new product introductions (NPIs), exacting distribution requirements, complex manufacturing constraints, strict legal and regulatory requirements, and increasing customer expectations.
Despite the long list of supply chain challenges food companies face, there is good news. Automation through supply chain artificial intelligence and machine learning capabilities are here to help. A convergence of people, process, data, and technology capabilities, including those listed below, makes the timing ripe to take your food and beverage supply chain to the next level.
- Automation through artificial intelligence and machine learning capabilities
- More mature and user friendly supply chain planning and optimization solutions
- Proven supply chain optimization algorithms
- Access to richer internal and external structured and unstructured data
- Technology savvy workforce—Millennials/Generation Z
Attaining superior supply chain artificial intelligence and optimization capabilities has become a necessity for survival for food and beverage companies in today’s highly competitive global environment. Food and beverage companies need to build a strong foundation of supply chain capabilities today to be in a position to take advantage of more mature capabilities.
Part One of this white paper presents the capabilities required to build a strong digital supply chain planning foundation, including leveraging mature and user friendly supply chain planning and optimization solutions to make faster, more informed decisions. Part Two covers the next steps food and beverage companies should take to reap the greatest harvest from supply chain investments.