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Part 2: Major Trends Impacting The Food & Beverage Industry

Posted by Harriet Schneider on May 3, 2024 2:42:34 PM

Part 2: Navigating High Inflation and Interest Rates in the Food & Beverage Industry

Inflation and interest rates are casting a significant shadow over the food and beverage industry, profoundly impacting various aspects of operations. Prices for ingredients, packaging, energy, transportation, and labor have surged, translating into higher consumer prices. As a result, consumers are shifting towards lower-priced alternatives, posing challenges for manufacturers. Those equipped with robust insights and cost agility are weathering the storm better, while others grapple with shrinking margins.

Amidst this economic turbulence, regulators have responded by significantly increasing interest rates to curb inflation. However, this move has further strained smaller businesses and startups, grappling with the high cost of capital. Consequently, the industry landscape is witnessing a scenario where larger enterprises dominate, consuming smaller players struggling to stay afloat.

 

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Topics: Food & Beverage, PLM, Infor Optiva, CloudSuite Food & Beverage, CloudSuite PLM, Infor PLM, Infor Partner, Food & Beverage PLM, Infor PLM for Process

Blog Series: Major Trends Impacting The Food & Beverage Industry

Posted by Harriet Schneider on Apr 25, 2024 9:00:00 AM

Part 1: The Adoption of Technology in Food & Beverage

In today's rapidly evolving food and beverage industry, adopting technology is not just a choice but a necessity for businesses aiming to stay competitive and efficient. From AI and machine learning to enterprise automation and IoT, technological advancements are reshaping how companies operate, engage with customers, and manage their supply chains.

The Role of Technology in Business Transformation

Leading food & beverage sector businesses embrace a digital-first approach to drive growth and streamline operations. This includes leveraging technologies such as artificial intelligence (AI), machine learning (ML), generative AI, enterprise automation, IoT (Internet of Things), and Industry 4.0 solutions to enhance productivity, optimize processes, and deliver superior customer experiences.

Partner Spotlight: Info's OS Technology Platform

Our partner, Infor, with its innovative OS technology platform, is at the forefront of this technological revolution. Info has been instrumental in helping food & beverage businesses harness the power of cutting-edge technologies to unlock new opportunities and overcome operational challenges.

How Info is Empowering Businesses

Infor's OS technology platform offers tailored solutions designed to meet the specific needs of food and beverage companies. By leveraging AI and machine learning, Info enables businesses to analyze vast amounts of data in real time, gaining actionable insights to optimize production, predict demand, and enhance supply chain efficiency.

 

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Topics: Food & Beverage, PLM, Infor Optiva, CloudSuite Food & Beverage, CloudSuite PLM, Infor PLM, Infor Partner, Food & Beverage PLM, Infor PLM for Process

The Top Ten Benefits Of Software-As-A-Service Analytics.

Posted by Harriet Schneider on Mar 25, 2024 10:29:15 PM

In the ever-evolving business landscape, the quest for efficiency, productivity, and competitive advantage remains paramount. This journey often relies on effectively leveraging data, and Business Intelligence (BI) tools have become indispensable for many organizations in achieving these goals. Traditionally, BI solutions have been associated with hefty investments and complex implementations. However, cloud BI platforms have revolutionized this space, offering a more agile and cost-effective approach to data analysis and decision-making.

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Topics: Food & Beverage, Cloud BI, ICCG, Infor Partner, Infor Cloudsuite Food & Beverage, International Computer Consulting Group

How Product LifeCycle Management System Helps R&D Department Function

Posted by Harriet Schneider on Feb 16, 2024 8:00:00 AM

By Christine Dominski, ICCG Senior Business Consultant

Do you find yourself searching for Information through multiple Excel files? How about Teams or SharePoint sites? Do you struggle with managing approvals or reviews?

Maybe it is time for a Product Life Cycle Management System (PLM).

Product Lifecycle Management (PLM) is the process by which Research and Development innovate new products and manage quality throughout the product lifecycle to ensure the highest level of consumer satisfaction and shareholder value.

PLM systems wrap around Business Strategies and Product Portfolios to help coordinate information and collaboration across an organization. The process of generating product ideas, all the way to product retirement, can be managed in a PLM system. Manage Suppliers, Items (ingredients), Formulas (recipes), Label and Project information, all in one place. Record approvals at every step of the way to provide audit trails.

Product Lifecycle Management affords the peace of mind that all data is managed and reported as required by your organization. A PLM system allows you to control User access to the information as needed for your business success. Integration with ERP systems and a data lake are available. Use the data lake to feed E-Commerce initiates or other internal systems used for reporting.

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Topics: Food & Beverage, PLM, Infor Optiva, CloudSuite Food & Beverage, CloudSuite PLM, Infor PLM, Infor Partner, R&D, Food & Beverage PLM, Infor PLM for Process

Why PLM?

Posted by Harriet Schneider on Feb 2, 2024 8:00:00 AM

By Christine Dominski, ICCG Senior Business Consultant

Have you ever wondered if a Product Lifecycle Management (PLM) system is right for your business? Is the Business Value unclear? No matter the size of your business, a Product Lifecycle Management system can provide insights and discipline to a Company's process. Let’s provide clarity on the business value.

Standardize Business Processes – By understanding what makes your business tick, you can standardize the processes in a system to maximize efficiency. Once you maximize efficiency, you can realize a quicker time to market with new approval processes tailored to your needs.

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Topics: Food & Beverage, PLM, Infor Optiva, CloudSuite Food & Beverage, CloudSuite PLM, Infor PLM, Infor Partner, R&D, Food & Beverage PLM, Infor PLM for Process

Mid-Market Food & Beverage Industry Leaders.

Posted by Harriet Schneider on Jan 15, 2024 11:09:04 AM

Are you struggling to choose the right ERP software solution for your business? At ICCG, we know that selecting the right ERP system can make all the difference in the success of your business operations. When evaluating ERP solutions for the food and beverage industry, it is essential to consider key selection criteria such as:

  • Ease of use: A user-friendly ERP system can help you increase productivity, reduce training costs, and improve user adoption rates. Look for an ERP solution with an intuitive interface, customizable dashboards, and role-based access controls.
  • System customization capabilities: Every business has unique requirements, and it is essential to select an ERP system that can be customized to meet your specific needs. Look for an ERP solution with a flexible architecture, open APIs, and a robust third-party ecosystem.
  • Data security features: Protecting your sensitive business data is critical, especially in the food and beverage industry, where data breaches can result in severe reputational damage. Look for an ERP solution with robust data security features, including encryption, access controls, and regular data backups.
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Topics: ERP, Food & Beverage, Infor M3, Enterprise Resource Planning, Infor M3 ERP, ERPSelection, MidMarket, ICCG

Future-Thinking ERP Trends: How The Industry Is Evolving

Posted by Harriet Schneider on Aug 29, 2023 10:47:11 AM

Just as companies must transform to meet today’s challenges, the software vendors they rely on must also mutate their products to become a better fit for the next generation of organizations. And that’s happening with ERP. From my perspective, here are the seven ways ERP is evolving, along with my tips for selecting an ERP vendor.

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Topics: Manufacturing, Food & Beverage, Small Business, Big Data, Food Technology, CloudSuite Food & Beverage, Cloudsuite Fashion & Apparel, Infor CloudSuite Fashion PLM, Security & Compliance, data security

The Role Of The Modern CFO

Posted by Harriet Schneider on Aug 23, 2023 8:30:00 AM

The role of the CFO has changed dramatically over recent times and will continue to do so. The modern CFO is now emerging as a key enabler in creating a more ‘dynamic’ finance function that can react to ever changing demands from both internal stakeholders and external customer, suppliers and partners. In addition to the traditional responsibility of ‘managing the finances’ of the organisation, the CFO is now increasingly engaged with activities such as strategy formulation and business transformation projects. 

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Topics: Manufacturing, Food & Beverage, Small Business, Big Data, Food Technology, CloudSuite Food & Beverage, Cloudsuite Fashion & Apparel, Infor CloudSuite Fashion PLM, Security & Compliance, data security

Finance Transformation - The Time Is Now

Posted by Harriet Schneider on Aug 22, 2023 10:23:37 AM

Business transformation projects are increasingly being undertaken to facilitate growth, reduce costs and increase competitiveness in a harsh global marketplace where only the organisations who continually evolve and innovate prosper. The finance function is not immune to this transformation process and can play a key role in its development and adoption.

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Topics: Manufacturing, Food & Beverage, Small Business, Big Data, Food Technology, CloudSuite Food & Beverage, Cloudsuite Fashion & Apparel, Infor CloudSuite Fashion PLM, Security & Compliance, data security

Data Security – The role of the CFO

Posted by Harriet Schneider on Aug 10, 2023 4:18:47 AM

Chief Financial Officers need to play a leading role to ensure data security within an organisation. Potential threats are proliferating and the financial impact of a breach of data security can be substantial. Consider how your turnover and profitability would be impacted due to a data security breach which could potentially hold your organisation to ransom or prevent users from performing their day to day activities.

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Topics: Manufacturing, Food & Beverage, Small Business, Big Data, Food Technology, CloudSuite Food & Beverage, Cloudsuite Fashion & Apparel, Infor CloudSuite Fashion PLM, Security & Compliance, data security

About ICCG

Welcome to our Blog - ICCG Insights!

Embracing thought leadership as a pathway for growth, represents the true spirit of progressive change that will make a difference in technology-driven industries. As a consulting company, ICCG customers look to us as their value-added resource. They expect us to be proactive about solving their immediate challenges and we don’t take that responsibility lightly. It is this that drives us to share our best practices, knowledge-base, years of experience, and tried and true methodologies. These have been the hallmarks of our corporate brand.

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