Food & Beverage
Undeniably, the challenges faced by food and beverage (“F&B”) owners and managers are plentiful, owing to fierce competition and a dynamic industry. New entrants, changing consumer spending, increasing food prices, and advanced technology are slated to bring about extensive changes in this sector in the next few years.
Despite the consistent challenges of the F&B industry, it is predicted to show healthy gains in the future. Identifying and capturing those gains has never been more important, as the world looks to a gradual post-pandemic consumer recovery.
The F&B sector has faced the worst economic impacts of the coronavirus so far. Right from the manufacturing and supply chain and restaurant sector to food service companies and food delivery firms, the F&B industry has been wearily coping up with the pandemic. Countrywide lockdowns have prevented employees from working in factories, severely impacting the supply chain.
It has been speculated that the aftermath of the pandemic is likely to remain for quite a period. This holds true for the F&B industry as well, seeing that people are likely to practice social distancing for a while now, as part of what is considered the ‘new normal’. F&B managers will need to keep these issues in mind and chalk out strategic initiatives to keep their business afloat.
This is quite apart from managing the basics:
· Improving billing averages and turn times
· Growing repeat customers
· Understanding sales trends and data
· Reducing waste with efficient ordering and inventory management
Talk to us today to see how we can help you grow your F&B business, while maximising returns and reducing risks.