Posted onJune 24, 2016
- Posted on: Mar 30 2015
- By: Anonymous (not verified)
The The Future of Beverages: 7 Key Changes the Beverage Industry Must Accept
beverage industry, multifarious in its composition and structure, is ever-evolving and consistently growing in stature. With an enormous array of beverage options available to consumers, the market has been divided into confusing subsections, but one thing is clear: the future of beverages is healthy.
Big Changes to Come for F&B Industry?
Food, beverage, and ingredient companies operate in dynamic, competitive, and highly regulated markets. While industry experts predict that profitability will continue to rise above the 17% increases in 2014, there are many proposed changes that could impact company processes, marketing tactics, distribution, safety, recall, and technology.
Three key goals are likely to drive technology requirements:
The Food Safety Modernization Act (FSMA), signed into law in 2011, poses the biggest change to food industry regulation since 1938. It’s estimated that nearly half of F&B companies would be non-compliant by mid-2015 under the new regulations. These rulings could significantly increase the already heavy burden on small to mid-sized companies. The chart to the right represents key proposals from FSMA and the current ruling dates.
Consumers today expect more information about the origin of ingredients and production of their food. Considering the publicity of high-profile product recalls, the increase of allergen awareness, and the use of genetically modified organisms (GMOs) in food, the FSMA is increasing mandates for food companies to become transparent. These requirements will add layers of complexity of information that companies must track for labeling and traceability.
Companies are looking for ways to deploy information and technology to limit inefficiency and increase sustainability and profits throughout the process. Reducing factors like spoilage and cross-contamination can have a big impact on a company’s ability to reduce waste. Ingredients lots and expiration dates must be tracked accurately throughout the process before inefficiency builds.
At RKL eSolutions, we understand that technology plays a key role for F&B companies to meet the evolving compliance and reporting regulations. The expectation is that newer technology solutions allow information to be shared quickly and thoroughly within an organization. We are closely monitoring the FSMA rulings to understand how the proposals will impact your business. You can count on us to provide automation solutions which will allow you to take back control of your business.