Resource Efficient Innovations Database (REID)

New stock-monitoring and forecasting system targets food and beverage manufacturers

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New stock-monitoring and forecasting system targets food and beverage manufacturers
“Micro vertical” package of popular enterprise resource planning system can help food and beverage manufacturers manage inventory and potentially reduce waste.
In Use – Commercially available.

Benefits
Product Waste Reduction, Resource efficiency (e.g. filling line efficiency)

Product Categories
Drinks, Food

Relevant Materials
Not Applicable

Relevant Packaging Formats
Not Applicable

Supply Chain Phase
Supply Chain handling systems and store replenishment

Details

An ERP systems provider has launched a series of “micro vertical” packages of its stock monitoring and forecasting system aimed at supporting specialised industries within the fast-moving consumer goods supply chain.

One of the first businesses to take advantage of the new food and beverage package is a UK organic baby food brand. A recent period of rapid expansion meant that the company was struggling with forecasting accuracy and were subsequently shorting retailers even when stock was available in the warehouse.
Goods-in were also becoming increasingly difficult to manage. The company was juggling incoming organic ingredients from fifteen suppliers with 130 stock keeping units for which there was as much as 20% disparity in shelf life demands amongst retailers.
As a result of implementing the new Infor10 food and beverage package, Organix has been able to cut inventory by 10-15 per cent. The system picks up on trends as well as seasonal promotions and can also separate out the effect of step changes due to entry into new markets. Looking forward, the system will also enable vendor-managed inventory, giving retailers access to see their forecasts and trends.
The content in this entry has been obtained from publicly available information sources only (e.g. press releases, website and trade press articles) and is subject to completion of a validation process with the technology supplier.

Potential Benefits

Although the focus of this first application of the new food and beverage “micro vertical” package is on reducing shorts for a rapidly expanding brand, improved inventory management and forecasting can also help reduce waste in the supply chain. Poor inventory management can result in ingredients going out of date at the production facility, whilst poor forecasting can result in overproduction leading to supply chain waste downstream.

Intellectual Property

The “micro vertical” packages are part of the Infor10 enterprise resource planning system.

Consultant View

There are other entries in the REID database which focus on the improved resource management at the enterprise level. To identify relevant entries, try using searching the database using terms such as “Software”, “Monitoring and data capture”,  and“Demand forecasting”.

Contacts and Further Information

Pieter Leijten:
Infor
Tel: +44 (0) 808 238 1641
Email: marketinguk@infor.com
http://www.infor.co.uk/industries/food-beverage/

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