Financial Management to Grow your Manufacturing Business
4 October، 2021
Advantages of having sound financial management services
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The food and beverage industry has experienced profound changes due to changes in the behaviours of consumers, technological developments, as well as strict regulations. These factors have beset the food and beverage operation with a series of obstacles. The food and beverage industry is facing severe challenges on several factors. Here we present some of the crucial challenges in food and beverage operation and how Infinity experts can solve these challenges.
| Challenges | How Infinity Consultants can help |
| Inventory Management The beverage industry is unpredictable and continually evolve around consumer trends and seasonal produce growth. It is therefore very challenging to manage inventory and resource planning. The industry’s challenges consist of seasonal demands, a persistent need for innovation, transportation, the requirement for temperature control, choosing efficient routes, quick unloading, stocking, and sale at the other end, and tight margins. And it affects the inventory management | • IMCC will help you track the ingredients’ shelf lives to eliminate waste and augment overheads through automated software. • We will use inventory management software for analysing the shelf-lives of all ingredients and automatically alert the production team when a product is nearing the end of its use-by date. • We will support you to streamline inventory processes so that wastage can be reduced. |
| Product Pricing Strategy • One of the challenges in food and beverage operation is the price changes that depend on market dynamics and price shifts. • Product recall and product traceability is another crucial problem while deciding the product pricing. • Another challenge while deciding on pricing strategy is to distinguish the most profitable customers and cost-effectively target those consumers. | • Our pricing analytics solutions will help to make strategic business decisions based on industry standards. • As a part of our solution, we can assist in implementing pricing analytics and big data analytics so that you can know the market factors that may or may not impact the overall profitability. • Pricing analytics solutions will also help industry players understand consumer behaviour, identify future customer buying patterns, and develop pricing strategies. • IMCC will provide solutions for managing product recalls and guarantee optimum traceability to meeting consumer trends. |
| Sales Strategy • Globalization has increased competition, leading to more extensive products and lowering operating margins in many product categories. • In addition, unexpected changes in seasonal supply or pricing can bring about a disaster on a food and beverage manufacturer’s profit margin. • Customer loyalty and profits are influenced by how and where products are being sold. As a result, this industry is affected by the spread of e-commerce channels. | • IMCC experts fully explore the omnichannel potentials and help clients convert marketing efforts into sales by using sales data analysis. • Our sales analytics experts will develop a consistent strategy to align marketing and sales efforts; aid in developing a reliable strategy to support marketing and sales strategies. • Help manage food and beverage operations by creating a complete roadmap for the consumer journey, create a link between consumer, marketing, and sales, and showcasing a solution that best suits your food and beverage operation. • We will help you develop the digital customer journey that helps in increasing sales effectively for your food and beverage operation management. • We will also help you create advanced pricing analytics models and frame a comprehensive competitive pricing analysis framework to analyse those data sets. |
| Costing Issues • Maintaining variable costs in food and beverage operation management is a significant challenge as food and beverage costs are directly proportional to variable costs. • Another challenge is to maintain the controllable as well as uncontrollable costs. • Maintaining the Cost-to-sales ratio is another challenge for this industry. Recruiting and retaining quality staff is another problem which this industry face. | • IMCC will provide their clients with a sustainable strategy and address the challenge in financial restructuring, planning and control. • Our experts will perform a thorough diagnosis of your organization’s costs. • The IMCC experts will help in reviewing the current business model and give solutions for your liquidity needs. • Will assist in rebuilding the capital structure through optimized cost planning. • IMCC experts will help in chalk out an effective HR and labour scheme strategy to help your company achieve better financial and cost performance and thereby maximise talent and workforce efficiency. • Our HR experts will provide solutions to HR challenges with our tested and proven qualitative and quantitative methodologies, starting from day-to-day hr support, management to review and optimization. |
One of the vital challenges of this industry is fluctuating prices of seasonal produce, limited shelf-life of raw materials and finished products and stringent health and safety requirements. In addition, reduced overheads, time, and labour costs are other challenges this industry faces. Furthermore, newer markets, changing consumer spending habits, increasing food prices, global appetite, as well as advanced technology will bring about extensive changes in this sector. So, for such solutions, visit www.infinitykw.co.
