21 Mar 2023 (Tue)
Increasingly, local food and beverages (F&B) companies are using technology to operate more efficiently.
The Food Services industry plays a vital role in Singapore’s economy, contributing S$4.0 billion to Singapore’s economy and employing about 220,300 workers in 2021. In the past few years, the industry has made good progress in digitalisation and productivity improvements. In 2021, close to 90% of food services SMEs adopted at least one digital solution. In 2022, the refreshed Food Services ITM was launched to further develop the food services industry into an innovative and resilient one, with a stable of homegrown regional brands.
The Food Services industry is poised to see further growth and transformation, driven by consumption growth in the region, shifts in consumer trends and government efforts to drive industry rejuvenation and vibrancy. SCCIOB offers five new programmes to help those in the food services industry renew & rejuvenate their skills and knowledge in order to bring even better productivity to their organisation.
Restaurants are more likely to find long-term success if they practice effective inventory management. It helps to decrease food waste and loss, work with vendors, decrease the overall cost of goods, increase profits and keep customers happy.
Simple operational procedures, such as good inventory control, can help you to improve your order management, avoid lost goods, reduce downtime and improve efficiency in pulling food or drinks from the shelves. Learn to check the programs and processes you use for inventory management to see if they align with the best practices for the industry.
The restaurant industry has traditionally been slow to adopt technology and innovative digital solutions. But in 2020 and 2021, the COVID-19 pandemic changed that and forced food and beverage outlets to look beyond the traditional. Many restaurants have turned to tech in the last couple of years, even if reluctantly, to adapt to a new reality.
From online ordering, self-checkouts and touchless payments to delivery and pick-up, the F&B industry can no longer afford to ignore the trends that are helping businesses reinvent themselves to remain relevant and competitive.
Unlike many other industries in process manufacturing, the food & beverage industry must react much more quickly to changing consumer demands.
With the need to meet higher and increasingly dynamic consumer demands, higher agility in terms of fulfilment and a highly competitive environment, it is imperative for F&B companies to have an almost real-time productivity monitoring and course correction.
Though emergency plans are important for all companies, they may be particularly important for food and beverage manufacturers. Food and beverage plants face a unique set of threats, sensitivities, and needs in their quest to keep inventory safe and secure in a crisis that other industrial companies don’t have to worry about.
Emergency plans should generally begin with a vulnerability assessment and an impact analysis that will help determine which hazards pose the biggest threat to your organisation.
Trying to understand customer acquisition in any business is probably the biggest challange you can solve. Once you understand how to acquire customers you are able to scale that process and drive real growth.
Instead of focusing on this-or-that marketing campaign, customer acquisition for restaurants focuses on the fundamentals of how food businesses can set-up a repeatable system that attracts and retains customers – particularly online.
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