Food and Beverage Industry: Maintain a Winning Product Mix
For food and beverage manufacturers that want to expand their razor-thin margins even in the face of short shelf lives and increasingly stringent regulations, the solution is simple in theory: step up your data analysis game. But that’s not easy to do in practice. The typical food and beverage operation is now flooded with data from the supply chain, the production line, and downstream sources such as IRI, Nielsen, and various points of sale. Hidden in this deluge of data are the insights manufacturers need to increase forecast accuracy in ways that help reduce stockouts, minimize waste, and ensure product quality.
The Demand Solutions Digital Supply Chain Platform can help food and beverage manufacturers stay ahead of changing consumer tastes while keeping inventory in balance.
Food and beverage companies use Demand Solutions to:
- Respond to seasonality and demand variability by achieving one-number planning.
- Optimize production, scheduling, and changeovers across multiple plants.
- Ensure in-stock availability by synchronizing demand and supply on a daily basis.
- Reduce waste by reducing days-on-hand and increasing speed-to-shelf.
- Trace and analyze product quality and safety data from any source.
Drive New Sales by Optimizing Your Mix
Consumer tastes are fickle, and customer loyalty is hard to come by. Food and beverage manufacturers can win new customers—and hold onto precious shelf space—by introducing new products, tweaking package sizes, and changing their mix. Meanwhile, they can also hold onto longtime customers by balancing their inventory in ways that prevent late or incomplete deliveries.
With Demand Solutions, food and beverage manufacturers can:
- Streamline product launches by considering service requirements, capacity restraints, handling needs, and ordering costs.
- Gauge the cost of servicing any account using customer-specific forecasting capabilities, “what-if” analysis, and time-phased inventory policies.
- Balance inventory by optimizing allocation among multi-echelon supply chain points using demand sensing.
- Tune production plans to ever-changing forecasts and static capacity constraints.