The Food and Beverage Industry, also known as F&B is one of the most crucial sectors. It is the second largest sector in the region and undergoing massive diversification and development. With a huge volume of imports centered around it, the food and beverage industry boasts of unmatched potential and has been the cynosure of many businesses.
With the impact of COVID-19, the sector has taken a huge hit and businesses are still trying to figure out the best way to move forward. On one hand, the pandemic has closed the doors of major consumer-focused aspects of the industry such as fine dining, however, on the other hand, it has opened the gates for other avenues such as digital distribution networks.
With a thriving market, the food and beverage industry has attracted many organizations who have tapped into its potential to expand their presence this sector. However, the challenges of gaining a foothold are numerous and navigating them requires modern business solutions.
While many organizations have opted for process automation to streamline their distribution and supply chain, a huge number of businesses still rely on outdated methods. The delay in embracing total digital transformation has further increased the complexities faced by companies trying to overcome industry challenges. In the following, we explore the major hurdles these businesses face and how our solutions could help you navigate through them.
COVID-19 has proved to be the biggest challenge ever faced by the food and beverage industry in recent history. Reeling from lockdowns and an alarming fall in consumer demand, the industry was left on crutches. With imports being a primary source of procurement, business lost their balance as worldwide supply chain channels were disrupted, and distribution networks were shut down.
Even with the restoration of these supply chain channels, it has been a tough fight for the industry as they still wait for the consumer confidence to build up and gain traction, atleast to a resemblance of the pre-COVID era.
The food and beverage industry has been the battleground for enterprises, SMEs and new entrants, all of whom have driving their efforts to build their presence in the rich market. The rising competition has been a major challenge especially for new businesses who also have to tackle increasing costs.
In order to protect consumers, governments have stringent regulations when it comes to any business that deals in food and beverages. The authorities have set high standards to ensure food safety, standards that are very strictly enforced. Furthermore, regulations differ from region to region, due to which businesses that rely on outdated methods in their processes have a tough time navigating and ensuring compliance.
Hiring the right talent, on-boarding them and training requires a lot of effort and resources. Therefore, staff attrition proves to be a major blow for any business operating in the food and beverage industry. Shortage in staff hampers daily operations and results in losses.
The rise in the costs of raw materials and rentals has also impacted businesses. With supply chains dented, the costs may not lower soon. According to reports, 78% of the money outflow of food and beverage businesses such as restaurants comprises of rental costs and working capital. Without cutting down costs in operations, business could not stay afloat with these rising costs.
We at Focus Softnet have been supporting enterprises and SMEs in various industries achieve digital transformation through our BI enabled and AI powered ERP solutions. Since the last 28+ years, we have been assisting companies attain process automation by providing them with smart business solutions that are equipped with customizable workflows.
Our ERP solutions have been tailored for the food and beverage industry and enabled with features to help your business push forwards, identify and cut down costs and take smart decisions through AI-powered analytical tools. In the following, we present some of the major features of our ERP applications that would help you overcome your business challenges.
We provide the best ERP software for the food and beverage industry, with enhanced modules to manage all aspects of supply chain and distribution. By digitalizing records and automating redundant processes, our ERP applications help you gain a complete overview over all supply and distribution networks, leading to improved planning. Through its mobile-ready features, you could take decisions and actions from anywhere. Our applications combine features such as price books, purchase, invoice and sales management on a single, secure platform.
Our custom ERP for the food and beverage industry is also equipped with retail management and inventory administration modules. These tools would help you feel the pulse of your business and demand, and would automate activities such as restocking, POS and storage management. The inventory management tools also assist you in categorizing products, resources, conduct ABC analysis and gain total control over the stock.
Securely store your documents on a centralized database and access it anytime, anywhere. By enabling you to access and manage all documents from a single platform, our ERP solutions make it easy for you to ensure statutory compliance and regulatory requirements. As the best ERP software for food processing companies, its primed with finance modules that record the complex process of recording tax details and filing returns.
By deploying our ERP systems designed for the food and beverage industry, you would also have access to the human resource management module and payroll computation tools. Using these, you could automate the redundant processes in recruitment, on-boarding and training, thus saving significant resources and efforts. The error-free salary computation and disbursement along with employee appraisal tools would ensure the staff attrition rates stay low at your business.