The #1 Cloud ERP for Food and Beverage is the perfect ingredient for your business success.
The food and beverage industry is rapidly reshaping consumption and production with a growing population that is more health-conscious than ever before.
Technology has provided instant access to groceries, food services, and online ordering abilities and has almost become the new normal of shopping. For example, Amazon increased its delivery sales via Whole Foods by more than 400% during mid-March. With new trends in shopping and competition at an all-time high, can your food and beverage business keep up?
According to ROI Revolution, revenue from online food and beverage sales will reach $26.7 billion – more than double what it was before the pandemic started. Other sources have predicted that 70% of consumers will prefer online grocery sales in 2024 as it continues to experience double-digit growth. By 2026, more than 1 in every 5 grocery sales will happen online. In order to keep up with customer demands and stay ahead of the competition, it has never been more important for food and beverage businesses to have real-time business data at their fingertips to make better decisions.
Cloud-based ERP software platforms provide just that, a centralized database that is scalable and easily accessible for managing every aspect of their business. Discover the advantages of ERP to stay ahead of competitors and the many reasons why some businesses are hesitant for change.
4 Food & Beverage Technology Trends for 2024
#1: Achieving better data transparency to promote long-term growth and fulfill demand.
#2: Enable technology to provide better visibility, intelligence and gain business advantage.
#3: Focus on omnichannel distribution and introducing B2C commerce to keep up with the modern consumer.
#4: Gain agility, scalability, and visibility with cloud ERP technology.
By embracing digital transformation and integrating advanced technologies like AI, IoT, and blockchain in 2024, Food and Beverage companies can streamline their processes, boost efficiency, and gain valuable insights into consumer preferences. Modernizing technology is not only necessary but also a strategic move to stay competitive and responsive to the industry's evolving demands.
5 Food & Beverage Industry Trends for Business Growth
Trend #1: Sustainability & Eco-Friendly Packaging
Biodegradable and compostable materials are top of mind as consumers are becoming more aware of the environmental impact of their food choices. Products that are sustainable, eco-friendly, locally sourced or produced continue to rise in popularity and demand.
Trend #2: Functional Foods & Beverages
Consumers are focused more than ever on products that offer functional health benefits to fuel their body. Popular products include gut health, immune support, stress reduction and include products like probiotics, CBD infusion and adaptogens.
Trend #3: Plant-based & Alternative Proteins
The industry is shifting towards plant-based and alternative proteins, as consumers continue to increase their interest on becoming more health-conscious with plant-based meat substitutes, dairy-free and vegan products.
Trend #4: Food Customization & Personalization:
2023 consumers are moving towards individual preferences with build-your-own meals, customizable snack packs, and personalized nutrition plans.
Trend #5: On-The-Go Convenience
As we all tend to become busier and busier over the years, portable snacks and on-the-go meals continue to be the norm. This includes products like meal replacement shakes, protein bars, and single-serve items.
Why NetSuite for Food and Beverage Companies?
NetSuite's cutting-edge cloud ERP system is the ultimate solution for managing inventory, orders, e-commerce, financials, and CRM in the food and beverage industry. With a wide range of satisfied customers in this sector, NetSuite's Food ERP Software has a proven track record of supporting businesses just like yours. If you want to grow your company in the ever-evolving food industry, you need the right business tools.
ERP Software Tailored for the Food and Beverage Industry:
Your company encompasses more than just business management, and NetSuite provides a comprehensive solution that empowers your entire organization.
NetSuite Food & Beverage Features
Take orders with confidence insuring the right price, best location and correct product to fit service level commitments. Lower inventory holding costs, speed up the order-to-cash process, and enable omnichannel operations by connecting sales, finance, order fulfillment to pricing, returns management and order management.
Supply Chain Management:
Gain visibility of your supply chain, streamline operations, understand bottom line costs, increase efficiencies, and maintain inventory across your entire business.
NetSuite offers a 360-degree omnichannel view of customer and inventory information to fulfill orders, drive efficiency, increase sales, connect with customers to provide a positive shopping experience.
CRM, Promotions & Marketing:
Gain a real-time view of customer communication, performance and incentives across all channels of the business, keeping customers coming back for more.
Planning and Scheduling:
Effectively manage your business ensuring maximum profitability and customer satisfaction levels. Naturally balance resources, optimize inventory, manage vendors, gain visibility with purchases and deliver the best delivery and price.
Product Data Management:
NetSuite supports the product-based business with large capabilities to maintain all data you need to run your business: vendors, customers, partners, and items. Spend less time answering questions of status, revisions, and design, and connect departments with a system designed for self-service answers and status across the organization.
Carry the highest quality products with the lowest overhead. Easily set up inspection plans, track results, and evaluate vendors to ensure the best quality products on the market.
Shop Floor Control:
Quickly and accurately receive information from the manufacturing process with real-time updates and communication on NetSuite’s shop floor application or traditional barcoding.
Achieve perfect product assortment and eliminate inventory silos between channels. Free up cash flow and prevent stock-outs with a unified instance of inventory data.
Gain real time visibility into every step of the production process for better informed decisions with NetSuite’s end-to-end manufacturing solution.
Take control of your warehouse with NetSuite WMS. With industry-leading features such as mobile RF barcode scanning, wave planning, cartonization, kitting, and space management, NetSuite WMS increases efficiency, improves operational excellence, and lowers costs for warehouses of any size and complexity.
Transform Your Food and Beverage Business With NetSuite ERP
With decades of business-process expertise and extensive product knowledge under our belt, our consultants provide a single source of expertise to implement, customize, integrate, and refine your back-end operations. Protelo’s top-tier NetSuite experts have helped hundreds of companies harness the power of NetSuite.
At Protelo, we help businesses select, customize, and implement software to run their organization on one, integrated, cloud-based platform. NetSuite is the best-selling cloud-based ERP worldwide. It is an integrated suite of applications, built from the ground up for the cloud using a single data model.
Have Questions? Would you like a free trial or a demo? We are here to help your business get the most out of your software.