Many prominent companies like to determine the peer companies within the food and beverage sector to evaluate their sourcing and purchasing best practices and capabilities. They also want to cut down on rogue spending across the supply chain.
Food and Beverage Procurement Research firms are looking to differentiate themselves from others by offering unique products and assistance to remain ahead of the contest. Leading companies in the food and beverage sector have started leveraging procurement best practices solutions to cater to the demands of the end-users and differentiate themselves from others through exceptional services.
Food and Beverage Procurement Research firms are looking to differentiate their offerings from competitors by offering unique products and services. Leading companies in the industry have begun leveraging procurement best practices solutions to provide superior services to customers.
With an average score in 2021 of 2 digits, Food and Beverage were among the top performing industries in terms of overall average score. It trailed only the Construction and Finance, Legal, and Consulting sectors in terms of average score. This situation reflects the industry’s engagement with sustainability issues and willingness to assume leadership in improving standards on widely scoped matters such as resource use and packaging waste.
Food & beverage companies achieved the highest average score of any industry under the Environment theme. This reflects a growing awareness among these companies of the immediacy of the impacts of climate change and an increasing appetite to mitigate those impacts through adopting sustainable practices. In this regard, agri-tech (biologicals, regenerative agriculture; AI; and alternative proteins) is currently experiencing record levels of investment and has yielded significant sustainability improvements for the industry, notably reductions in water use.
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Globally, food & beverage (F&B) companies face a dynamic future, with constant challenges to reduce cost, procure effective services, manage volatility, and find novel solutions to keep consumers engaged and satisfied. Improving visibility across supply chains, marketing, and logistics is the key to future procurement decisions. Our effective procurement market intelligence services enable clients to reap the benefits of a high return on investment and analyze the dynamic demand/supply landscape to procure the best services in the F+B industry.
We have recognized that the food industry faces unique procurement challenges through effective Automotive Procurement Intelligence. These include fluctuating supply chain prices and maintaining the food product’s quality, freshness, safety, and consistency. Our well-structured procurement market intelligence services allow the food industry to control and effectively manage its expanding and increasingly complex global supplies to procure better services for efficient business decisions and competitive advantage.
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Ankur Gupta, Head Marketing & Communications