The last two years have tested the culinary industry like it’s never been tested, from the broken supply chains to surging demand. Much like other sectors, the resulting upheaval had led to digital transformation being put at the forefront of the trade. Faced with many challenges and obstacles from every front, many food businesses have stepped up digitization efforts and focused on optimising existing workflows and processes for maximum efficiency. All the while building more resilient supply chains not only to survive. But also to become stronger and come out on top.
Trends in the digitization of the industry
Digitization for any industry takes many forms. However, there are some that share similar trends. Here are some of the common trends found in the culinary sector:
- From gaming websites like NetBet to eCommerce enterprises like Next, many businesses serve their existing and prospective customers through multiple online channels. And the culinary industry wasn’t an exception. Omnichannel services like logistics have begun to take hold of the trade due to the convenience it offers consumers to reduce the costs of daily operations. The omnichannel approach benefits all parties involved.
- Many food businesses have accelerated their move towards the cloud to be more responsive and versatile to the rapidly changing conditions of the market.
- Artificial intelligence. Real-time analytics and AI technologies play critical roles in aiding businesses to rapidly respond to any new trends to avoid waste and fuel growth.
- An increasing number of people are beginning to expect more information about the food they choose to buy. Doing so puts additional pressure on businesses to ensure visible supply chains using technologies, such as IoT.
The use of big data
Many businesses had a tendency to collect so much data without having the capacity to understand how to utilise it for improving their daily operations. In most cases, they leave unused and unattended data in creating something called data silos—data sets that are challenging to access, especially from specific departments of the business. This means they can’t collect insights and make all the adjustments and changes necessary to use their information. With digital solutions, companies can establish transparent views of the lifecycle of their goods.
As a result, the decision-making process is much easier since they can identify any existing or potential issues with their goods that they couldn’t do before and leverage prescriptive and descriptive analytics. Regarding logistics, many F&B companies use ERP solutions to aid them in identifying opportunities that may have been hidden at one point in time. It also aids in curtailing goods or features that may keep business from improving.
When all’s said and done, digitization is unlikely to curtail anytime soon, especially in the culinary industry. After all, the applications of digital solutions can allow businesses to maintain compliance while the utilisation of data offers new growth opportunities no enterprise can afford to overlook.