Holistic Innovations in Operations and Supply Chains will Help the Industry

 2022-12-06 By: Elroy Yao

The Food and Beverage industry have been in a rather precarious situation between 2020 and 2021. While the condition has somewhat improved since then, several well-known establishments had to close down as they were no longer profitable or profitable enough. While businesses have to innovate or transition to be able to maintain operations; there is a question that need to be considered: in what way?

In addition, the food and beverage industry are also closely linked with health and diet trends. For example, many people now are looking for plant based or pescatarian diets both for health benefits and due to several real-world concerns, such as sustainability and ESG.

The "Bridging ESG and digital transformation - Initiate the "beyond E" generation" forum of InnoVEX 2022 also discussed these ongoing trends. Victor Chen, Co-Founder & CEO of Foodland Ventures shared how governments and customers are paying attention to the growing ESG trends. ESG in the food sector is not limited to alternative nutrient sources as any innovation that improves the efficiency of the food industry can still contribute to ESG.

A recent article posted in Shopify listed 11 trends in the Food and Beverage industry, including sustainability, direct-to-consumer (DTC) operations, e-commerce, and more. For many businesses, e-commerce investments and integration would be able to elevate their operations to new heights; either by further increasing revenue or reducing costs without sacrificing quality.

Food & Beverage e-commerce and logistics company Kemanji integrates ordering for table service, pick up, and food delivery for both restaurants and customers. Their Appeaty app simplifies the management and accounting processes as well as for corporate accounts, with fast and unified management of table reservations, ordering, payments, and tax receipts.

Combining these factors: increased awareness and interest to sustainability, ESG goals, and e-commerce integration/ investments will further encourage innovations to the entire supply chain. The food and beverage industry are vital to humans because humans need to eat and need to drink. However, the industry and its supply chain contribute greatly to carbon production and often generate a significant amount of waste.

For the retailers such as restaurants or eateries; recent macro-events have forced changes and upgrades to happen not only to reduce inefficiencies, but also to ensure profitability and solvency. Innovations in food and beverage businesses often come in terms of raw materials or production methods, but less often on operational efficiency. Regardless of the industry, improving operational efficiency can help business owners by removing a necessary, but tedious tasks which frees up time for founders and business owners to do what matters more to them.

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