The food industry, apart from administrative services common to all companies (finance, sales, marketing …) and analysis reflecting the strategy of decision-makers, what issues require appropriate and rigourous analysis to improve performance?
The most important analysis for an industry of perishable goods such as food processing is the analysis of customer needs at the right place and at the right time. Indeed, this analysis may result in cascading optimizations in logistics, marketing (advertising, promotion, size …), production, supply. Indeed, responding to customer needs at the right time is the solution to optimizing revenue in this industry.
This analysis requires data gathering on distributor sales (central purchasing of supermarket chains and grocery stores frequently resells their data to their suppliers – sales data scanned at the time of individual purchase and/or central purchasing warehouse delivery data to stores). Subsequently, regional and seasonal segmentation is done on sales, discards and returns, to determine the type of products purchased by end-users. Subsequently, a predictive analysis is performed to estimate the realistic sales volume for each period.
This food industry analysis makes it possible to review the production priorities of the supply chains, volume and delivery priorities, deadlines and volume of raw materials supply, but also promotions and relevant sales formats.
Roughly 15% of DWBI customers saw an increase in revenue by bringing the right products at the right time to the right customers.
The food industry and analytics in general!
- Analysis and food industry standards: requiring rapid tracking and analysis of the cold chain;
- Expiration dates and storage times: requiring adjusted output to avoid excessive stocks (and therefore discards);
- The rising cost of raw materials: requiring optimized management of supplies and the production line to avoid losses of raw materials;
- The analysis of end users purchasing: requiring an agreement with retailers to have access to data and enabling the proper analysis of the sales cycle and therefore production cycles;
- Logistical analysis to optimize the transport and handling of products (optimize processes).