It’s a challenging time to be in the food and beverage industry. Consumer demands change faster than ever, younger generations are demanding higher quality, organic, and clean label products, and the process of both sourcing and selling has gone global. Remember when a food or beverage trend would last a few years or decades? Long gone.
Today, it’s all about agility and seasonality. Gone are the days when you could profit off ‘strawberry kiwi’ for the better part of a decade, you’re probably too busy planning for Pumpkin Spice season 2020.
Today’s success in the food and beverage industry requires you to test, fail fast, and pivot. It took 79 days for Coca-Cola to respond to the backlash over ‘New Coke’. It took 40,000 letters and calls sent over the first month. Think how swift and overwhelming this response would be today.
Food and beverage companies already need to move fast, but in today’s digital landscape, you will need to move faster than ever. To make this happen, companies like yours will need to embrace new technologies that allow them to see more, do more, and compete more effectively.
Is Legacy Software Slowing You Down?
Many companies in the food and beverage world have seen the evolution of technology and others have even looked at making a move to upgrade. In fact, 94% of businesses have some kind of roadmap in place for embracing digital technology, according to RSMUS.
However, getting from planning to execution is often more challenging than it appears. Too often, projects end up stalled before they even get off the ground, due in part to the needed R&D and research spending just to keep up with the marketplace trends.
Unfortunately, these legacy software options make it harder to keep up with the marketplace trends, and even harder to see what’s happening in their own business.
Faced with outsized risk, cost and resource requirements for what may seem like an incremental upgrade, your company can be effectively forced into keeping the same version. For businesses who need extensive customization to a legacy product (i.e. food and beverage), a small upgrade could end up being nearly as complex as the initial implementation. So how does it hurt today’s food and beverage business? Find out in our new whitepaper.
MIBAR Releases Guide to Moving Past Outdated Software
If you’re looking to understand your options, see how the market has evolved, and learn your next steps, we’re here to help. We recently released a complimentary guide for companies in the food and beverage industry looking to set themselves up for long term success in the cloud.
Signs Legacy ERP is Holding Your Food and Beverage Business Back discusses a variety of trends including the following:
- The changing food and beverage landscape—and how it’s only going to move faster in coming years.
- The accelerating progress and disruption taking place in the business software landscape.
- The dangers of relying on outdated processes and manual technology to compete in the current competitive landscape.
Those interested in receiving the full guide can download it here. At MIBAR, we’ve helped companies like yours to understand options and implement solutions designed to help. We know the challenges food and beverage companies face and are happy to recommend, install, and train users on NetSuite—the leading cloud solution for the food and beverage industry. Get to know more about our work and contact us for more information.
Additional Food and Beverage Resources
Why It Pays for Food and Beverage Companies to Centralize Business Management
Blockchain: Hype or Reality for Food and Beverage Businesses?
Four Perpetual Challenges Facing Food and Beverage Companies