Harnessing Technology to Build a More Resilient Food Industry

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HARNESSING TECHNOLOGY TO BUILD A MORE RESILIENT FOOD INDUSTRY

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INTRODUCTION The COVID-19 pandemic had a monumental impact on every walk of human life. But most importantly, it has revealed the inherent fragility and vulnerability of our food supply chains.

Suppliers as well as sourcing subcontractors are struggling remarkably to keep the industry up and running. However, this is an excellent opportunity to scrutinize the conventional ways of consumption and food supply chains across the globe.

But more importantly, it is high time to review how technology can help us overcome the crisis.

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EXPLORING NEW OPPORTUNITIES

04 While no industry was left completely immune from the negative impacts of the pandemic, the food industry was hit particularly hard. To avoid further supply chain disruptions, communities across the world have started relying on local food systems. This has led to the growth of community-supported agriculture and urban gardening. Small-scale local farmers are looking for innovative ways to connect. Local suppliers are aiming for new marketing advantages. Also, quality control subcontractors are looking for ways to satisfy the heightened concerns for product quality and safety precautions. In the purview of such developments, this is an excellent opportunity for food technology start-ups to enter the market.

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MANAGING THE DISRUPTION THROUGH INNOVATION AND TECHNOLOGY

-06 As the pandemic spread across the world, traditional modes of food distribution were drastically upended.

Hospitality and restaurant businesses had to shut down, consumers rapidly shifted to e-commerce platforms for regular purchases, and consumer demand for groceries increased like never before.

Therefore, going direct-to-customers (DTC) became an absolute necessity for the food industry. This means if the food industry did not have a DTC strategy in place, they must adopt one to meet the consumer’s needs. Companies need to improve their communication so that customers can receive an instantaneous response. In this regard, technology can support the food industry to a great extent.

Opening new communication channels, developing apps and websites, as well as maintaining strong online visibility will positively contribute to the sustainability of the food industry.

07 INVENTORY MANAGEMENT

-08 Consumer demand remains one of the most unpredictable elements of the supply chain. Under the novel circumstances, this notion has proved to be more accurate for the food industry than ever before. To keep up with the changing demands, food tech companies and hospitality businesses need to have a clear idea regarding their inventory. They can achieve this goal by conducting an efficient distribution center and store analysis. To this end, advanced analytics software and inventory management systems can help build a more resilient supply chain for the food industry.

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SAFETY MEASURES

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During the pandemic, an increased concern for health implied quality control subcontractors, as well as food manufacturers, have to take extra safety measures. This is particularly essential to maintain the customers’ trust. Those who cannot keep up with the shifting safety concerns and consumer habits are likely to lose their competitive advantage in the long run. Moreover, providing safety to the workers has also become crucial for every industry, including food tech. To this end, improved connectivity among workers can help to adhere to the safety protocols.

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CONCLUSION WITH THE AFTERMATHS OF THE PANDEMIC IS STILL LOOMING LARGE, THE FOOD INDUSTRY WILL HAVE TO DEAL WITH THE CHANGING CONSUMER BEHAVIORS. TECHNOLOGY WILL PLAY A PIVOTAL ROLE TO BUILD THE DESIRED RESILIENCE FOR THE INDUSTRY. IT WILL NOT ONLY HELP SOURCING SUBCONTRACTORS TO MANAGE THE SUPPLY CHAIN DISRUPTION BUT ALSO CONTRIBUTE TO THE SUSTAINABILITY OF THE EXISTING MARKET.

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