Food & Beverage ERP solution plays an important role in catering to customer needs and increase profitability in uncertain market conditions. The key benefits of implementing ERP solutions are regulatory compliance, product traceability, and quality control which helps in forecasting, planning, inventory management, and increasing efficiency in logistics.
An efficient ERP solution should provide the following functionalities:
End-to-end management: The functionality helps in organizing data by ensuring data integrity, production management, and quality checks.
Centralized database with real-time data reporting: Installing a centralized database can help the F&B company in recording institutional history, hence users can run reports and analyze production trends within the software solution
Data Security: Implementing a solution with varied user permissions and authorization reduces the possibility of information breach
Interactive UI: The main goal of procuring ERP solutions for the company is to simplify the processes. An interactive and easy to learn system will help the employees to use the solution effectively
The global ERP solutions market size was estimated at USD 35.50 billion in 2019 and is projected to register an 8% CAGR during the forecast period. The food industry is expected to hold a market share of 10%-12% of the global market. North America is expected to witness the highest CAGR over the forecasted period owing to increased adoption of cloud-based solution, the key benefit of cloud-based solution over traditional on-premise software is lower cost without any substantial upfront expenditure in software and hardware.
The products involved in food and beverage industry are highly perishable in nature, hence mitigating factors arising due to inventory management is a major concern for the suppliers. A shift of consumer preferences towards a healthy diet and lifestyle has negatively aided the growth of the products with added preservatives.
Limited shelf life and foodborne pathogens have impacted inventory management. Implementation of Food ERP solutions in the manufacturing process can help in reducing spoilage, track expiration dates, and enable stock notifications in case of shortages. Streamlining the above process has proven to be cost-effective and increase profitability.
Buyers often fail to understand the requirement of ERP and opt for trending technologies to transform their business processes. It is important to assess and evaluate the solution which is planned to be implemented. For example, a cloud-based solution is a necessity and also a cost-effective deployment for an organization that needs scalability, however, on-premise deployment is best suited for consumers who are in need of customizations and flexibility.
The key suppliers for Food ERP solutions are SAP, BatchMaster, Deacom, Process Pro, Plex, Sage Enterprise Management, Fishbowl Manufacturing, Deskera ERP, Oracle, and Infor. The market features a consolidated competitive landscape with top five suppliers holding more than 50% market share.
To reduce user training and operational complexities suppliers are offering user-friendly interfaces and functionalities instead of traditionally implemented software involving heavy coding. Apart from UI suppliers are also focused on developing ERP systems with big data and analytics capabilities to help consumers in decision-making procedure.
Grand View Research will help our client identify the best-suited suppliers by mapping their core capabilities and operational efficiency.
Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process
Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier
Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.
A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.
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