Cyberthreats are real, and the risks are growing. From ransomware attacks that shut down production lines to hackers bringing operations to a halt, cyberattacks on food manufacturers and distributors are no longer rare occurrences. Cybercriminals are always looking for ways to exploit your systems. And one contaminated batch, missed delivery or data breach can cost you valuable customers, time and resources, resulting in consequences that can ripple across your entire… Read More
When Overhead Costs Start Eating Your Margins
Refrigeration costs increase. Equipment breaks down more often. Spoilage ticks upward. Sound familiar? When overhead in your food manufacturing/distribution business starts creeping up, it doesn’t take long before you’re barely profitable. If you’re not regularly reviewing where your money goes, you might be spending more than you need to. The key is knowing where to look and what changes will actually make a difference. Where does your money go? Use… Read More
The Real Cost of Expansion: What to Know Before You Grow
The primary driver behind most expansion plans is the goal of increasing sales — with the hope that profits will follow. But before adding production lines, investing in cold storage or launching new products, you need to understand the profit implications. In some cases, an expansion plan boosts sales volume but not profits. You wind up investing more capital, managing more complexity across borders and working longer hours for minimal… Read More
Feeding Your Bottom Line with Smarter Cash Flow Strategies
Paying your company’s bills is just as critical as collecting your own receivables. Between fluctuating ingredient costs, perishable inventory, international shipping delays and payments spread across co-packers and freight forwarders, your cash can be tied up for months before your food products even reach customers. The good thing is, you have a surprising amount of control over how and when your company’s debts are paid. Start from the inside out… Read More
Strategic Technology Spending: What’s Cooking in the Food Industry?
Seventy-eight percent of consumer packaged goods companies and suppliers rank productivity as their top priority. And with the right technology in place, you can boost productivity, transform operational efficiency and improve bottom-line results — especially in the food industry. In a business where rising labor costs, tough safety regulations and supply chain complexities all impact daily operations, strategic investments in tech can deliver near-immediate returns while positioning your business for… Read More
Exit Planning and Succession Strategies for Family-owned Food Businesses
Years of dedication have gone into shaping your business into a legacy. But what’s next for your food or beverage company when it’s time to step down? Proper succession planning can mean the difference between a successful transfer and a business that fizzles after decades of hard work. Whether your goal is transferring to the next generation, selling to employees or finding an external buyer, doing your due diligence early… Read More