Investment in automation and reduction on reliance on additional workforce should be the focus of the food and beverage industry according to Grant Thornton in their “Hunger for Growth, Food and Beverage looks to the future” report. The report states that the majority of the food and beverage executives they surveyed anticipate that revenue and profit will increase in the next 12 months, across large and small businesses, regardless of their sector.
They claim that more than three-quarters of all the food and beverage executives surveyed confirmed that they would increase their spending on equipment in the next 12 months. Increasing investment in equipment is expected to be 88% in the meat and meat products sector, 85% in the fruit and veg sector, and dairy product 85%. Grant Thornton reports that “food and beverage executives are investing in equipment primarily to be more efficient”. According to Jim Menzies from Grant Thornton, while new products are critical to growth in the industry, improving processes such as investing in automation and streamlining operations is the key to generating profit and exploiting the emerging and growing food trends and optimism in the industry.
Having been leaders in automation for over 70 years, we have the expertise to help your business examine the way you operate in the ever changing economic environment. Our experts can help to ensure your business is ready to capitalise on these future growth opportunities and exploit emerging trends when the economy bounces back as global economists are forecasting. We understand that few businesses can fund investment in productivity from cash flow, so can help your business prioritise your investments by return on investment, and can help secure cost effective financing to enable you to generate profit and exploit these growth opportunities.