Almost half (48%) of food and beverage suppliers still handle daily tasks, processes, and communications with manual spreadsheets, according to new research from TraceGains. This highlights the need for greater technology and software adoption amid evolving consumer preferences and regulatory requirements.
The study of over 450 global food and beverage industry suppliers found that more than seven in 10 suppliers are running into issues — including time-consuming tasks (60%), data entry errors (39%), and miscommunication (32%) — as a result of using outdated processes.
With strengthening regulations on the horizon, many suppliers recognize the need for modernization — 65% said their top motivator for updating internal software is to keep up with regulatory changes. Improving response time to shifting consumer preferences (58%) and better managing supply chain disruptions (42%) were other top drivers.
So what’s holding suppliers back from adopting new software solutions? Almost one in four (23%) simply aren’t familiar with the modern supplier / customer management solutions available, and 63% are only somewhat familiar. Cost may also stall purchases, as nearly eight in 10 suppliers said cost was the most influential factor of their software purchasing decisions. Other primary considerations included ease of implementation (65%) and customer support (56%).
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