Procurement Software for Food & Beverage Industry
After several years in a primarily defensive cost-cutting mode, the Food & Beverage industry is shifting back into growth mode.
The industry is investing more in technologies to exploit consumer Big Data analytics and eyeing new global markets for expansion. However, increasingly stringent regulatory frameworks - for example, the U.S. Food Safety Modernization Act - the ongoing commodity-price super cycle, disruptive technologies that can erode brand loyalty and ongoing demands from retailers to accelerate and optimize supply chains will keep pressure on F&B manufacturers’ profit margins.
Advanced F&B sourcing, procurement and supply management teams will focus on:
- Protecting profits with commodity-price risk management, intelligent sourcing and process efficiencies.
- Accelerating existing value/supply chains and developing new global supply chains to support expanding reach into emerging markets.
Empower your teams with 360-degree spend visibility, intelligent supplier discovery and sourcing, robust contracting and collaborative supplier relationship management.
Food & Beverage Industry Challenges
F&B sector challenges are plentiful but present many opportunities for procurement, sourcing and supply management to create competitive advantage.
Key challenges include:
- Competing priorities as executives shift focus to growth, global expansion and investment in more consumer-facing (versus operational) technologies.
- Developing fast, nimble and high-performing supply chains to enable greater responsiveness to insights being taken from Big Data market analytics.
- Assuring strict regulatory compliance, supply-chain transparency and traceability.
Zycus’ integrated source-to-pay procurement suite enables F&B companies to control and rigorously manage their expanding and increasingly complex global supply chains for competitive advantage. Capture, structure and analyze detailed intelligence to enable faster and better business decision-making.
Use SPEND ANALYSIS with extensive global commodity-pricing intelligence embedded to support risk management, protect profit margins and formulate category sourcing, procurement and supplier negotiation strategies at any level of granularity or volume aggregation. Read More
Use STRATEGIC SOURCING to collaboratively, rigorously and efficiently define requirements, discover, vet, bid, evaluate and compare suppliers worldwide. Use for virtually any item or service and number of line items, including logistics, packaging materials and services, complex custom production and packaging equipment, design, engineering and contract manufacturing services. Read More
Use CONTRACT MANAGEMENT to rapidly build, negotiate and execute creative contracts, containing all necessary terms related to safety regulation, policy compliance and risk avoidance. Effectively manage dynamic pricing and other terms - for example, marketing price indexing, reopener clauses and so forth - across complete contract lifecycles. Read More
Use SUPPLIER MANAGEMENT to rapidly credential and onboard new suppliers, manage compliance to a plethora of regulations, inspection and control requirements through multiple supply-chain tiers and to continuously track, benchmark and improve supplier performance to yield fast, flexible, responsive and globally competitive supply chains. Read More
Use FINANCIAL SAVINGS MANAGEMENT to align procurement with both bottom- and top-line business performance objectives. Read More
Use PROCURE-TO-PAY to gain operational efficiency, to ensure compliant purchasing and clear chain-of-custody documentation worldwide. Read More