Technology has become the driving force behind the increased pace of business, with companies today facing the “keep up or be left behind” reality. The world of food is especially influenced by this continuously changing and fast-moving, technologically advanced landscape. Food and beverage companies must handle the challenges, that shape the industry and as such, they look to innovation to remain relevant and compliant. In a competitive environment with fickle regulatory conditions, food and beverage manufacturers need to rely upon technology solutions that will support them not just today, but well into the future.
Here are, 3 ways technology can support innovation in the food and beverage industry:
- Respond to Recalls Faster. According to a survey performed by Aberdeen Group, results show that 32% of companies in the food and beverage industry feel pressure from customers and regulators to reduce the risk of product recalls. As advances in food testing increase, companies have access to new technologies across their supply chain that will identify issues early. Companies that are able to roll out recall capabilities quickly and efficiently will be well positioned to manage their supply chain in the event of a recall.
- Increase Shop Floor Communication. Regardless of the size of a business, increasing productivity is crucial to enhancing gross profits and maintaining competitiveness. Productivity on the manufacturing floor for example, depends on a combination of resourceful employees, equipment, and processes. This approach to manufacturing can have a significant impact on performance by changing how factories operate. Connected manufacturing devices and assets can intelligently communicate equipment’s state, condition, or health, so that service can be performed.
- Remain Compliant with Food Regulations. It is the responsibility of the food and beverage manufacturer to understand and adhere to frequently changing regulatory requirements. If needed, this includes changing both the company processes and the technology to comply with any food imperative demands. According to Aberdeen Group, leaders in the food industry are 33% more likely to invest in technology that gives them ongoing ability to monitor regulatory compliance. It is imperative for food and beverage producers to keep on high alert for any changing consumer behaviors and then be willing and able to adjust product creations as necessary. Staying ahead of consumer demands and trends can help food and beverage manufacturers not only boost revenues, but also help processors stay one step ahead of evolving regulatory requirements.
Technology is the driving force of innovation today, challenging even the most established companies to modernize and reimagine how they stay relevant. No industry is resistant to the changes caused by technological advances, and food and beverage manufacturers are no exception. Recognizing, implementing, and utilizing the power of technology as a driving force behind the business can help food and beverage manufacturers better manage their operations as well as remain compliant, increasing their competitive edge and ultimately, their bottom-line.