With the margin of profit in the food industry defined not by dollars, but by fractions of cents, it is essential that manufacturers understand and control the costs of production.
And today, food manufacturers are being squeezed like never before. Distributors and consumers expect fresh, high-quality products at the lowest cost at the same time that input prices for producers are skyrocketing. Intense competition, new regulations and compliance requirements, and changing global market conditions demand fast, efficient inventory control processes.
However, many food manufacturers instead rely on inventory procedures peppered with disconnected technologies and manual processes. Consequently, these manufacturers incur costs that could be reduced, if not eliminated entirely, as a result of wasted or spoiled inventory. The need for integrated business applications that provide broader visibility into inventory is critical to reduce inventory costs and to ultimately ensure margin protection.
In this paper, you will learn how to avoid the five problems caused by poorly controlled inventory and how to protect your margins in an uncertain market.
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