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Warehouse Automation in Food & Beverage Industry

Warehouse Automation for Food Manufacturers

Read More About The Power of Inventory Optimization

As a food and beverage manufacturer or distributor, the value of your company lies in your inventory. Your inventory is what generates  profit, what hours of work and countless raw materials are used to produce, and ultimately, the heart of your entire business. Since your inventory has the greatest impact on your bottom line, tracking it accurately and efficiently is essential to your company’s success.

While the importance of optimal inventory management is clear, small and midsize food and beverage companies still have a long way to go. 43% of small businesses still do manual inventory tracking, or even worse, do not track inventory at all (4)! And with more and more products being developed daily, inventory management is only becoming increasingly complicated. Customers are craving variety, which is why 54% of warehouses plan to expand the number of inventory SKUs carried over the next five years(8). Streamlining inventory management is imperative as you continue adding more product lines and increasing production. It is no wonder why inventory and network optimization technologies are the leading areas where leaders plan to invest in 2021. According to a recent survey, 54% of respondents plan to increase inventory and network optimization technologies investment, and 54% plan to invest in cloud technology (2). Inventory and network optimization tools also saw the largest YoY jump in companies reporting the technology as “in-use today,” with 45% of companies falling into that category, a 5% increase from the year prior (2). Food and beverage companies plan to invest in inventory management technology to decrease costs, improve customer satisfaction, boost productivity and accuracy.

Sources

  1. https://www.conveyco.com/warehouse-automation-statistics/
  2. https://www.supplychaindive.com/news/inventory-planning-network-optimization-mhi-report-warehouse/
  3. https://www.bain.com/about/media-center/press-releases/2020/balancing_resilience_speed_and_efficiency_90_percent_of_retail_consumer_goods_companies_plan_to_modify_their_supply_chain_networks_in_response_to_fallout_from_covid_19/
  4. https://financesonline.com/supply-chain-trends/
  5. https://www.selecthub.com/warehouse-management/warehouse-automation-trends/
  6. https://www.bigcommerce.com/blog/inventory-management/#what-is-inventory-management
  7. https://www.conveyco.com/inventory-statistics/
  8. https://blog.capterra.com/inventory-management-statistics/

“The level of automation we now have is awesome. We can effectively track every part of our operations in real time and effectively manage
each facet of our omnichannel strategy.  Visibility into our inventory at every location is crystal clear and we have instant access to all of our sales, customer and production data. As a result, we can make better decisions and better manage our growth process.”

– Nora Orozco, President, BED|STÜ

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