Top 10 Popular Companies Digitalising the F&B Supply Chain
Published on : Saturday 03-08-2024
Discover how companies are revolutionising the food and beverages supply chain through digitalisation.
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The food and beverages (F&B) industry has undergone a significant transformation, in recent years, driven by digital innovation. According to The Business Research Company, the global food and beverage services market is predicted to reach US$4880.53 billion by 2028 from US$3715.91 billion in 2023, growing at a CAGR of 5.0% during the projected timeframe.
Several companies in the industry have leveraged advanced technologies to streamline and enhance every stage of the food and beverages supply chain. In this article, we will explore some of the popular food and beverages companies worldwide revolutionising the industry supply chain.
Benefits of digitalising food and beverages supply chain
Technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT) enable companies to transform traditional supply chains into agile, resilient networks. With these digital technologies, they redefine demand forecasting and streamline inventory management.
Here is the list of benefits of digitalising the supply chain of a food and beverages business:
Enhanced traceability and transparency
Increased efficiency and cost savings
Improved supplier collaboration
Greater agility and responsiveness
Sustainability and waste reduction
Increased customer experience, and
Competitive advantage.
List of 10 companies digitalising the F&B supply chain
Amongst the top companies digitalising the food and beverages supply chain is IBM Food Trust (ibm.com/products/supply-chain-intelligence-suite/food-trust). It is a collaborative network which involves growers, processors, manufacturers, wholesalers, distributors, retailers and others that can improve visibility and accountability across the food supply chain. Developed on IBM Blockchain®, the IBM Food Trust platform connects participants through a permissioned, immutable and shared record of food provenance, transactions and processing details.
Based in Thane, Maharashtra, India, Radhakrishna Foodland (rkfoodland.com) facilitates digital food chain supply. The company utilises advanced technology to optimise its supply chain operations. Radhakrishna Foodland specialises in supply chain services, supply chain consulting, supply chain solutions, logistics, 4PL, 3PL, distribution centre management, warehousing, transportation, supply chain outsourcing, digital supply chain, supply chain assurance, cold chain, temperature-controlled 3PL, and supply chain sustainability.
Provenance
One of the top companies digitalising the food and beverages supply chain is Provenance (provenance.org). The company helps brands and retailers in their sustainability journey. Its data and publishing tools allow multi-brand CPG retailers to manage, de-risk and publish their sustainability data. With Provenance’s API, brands can easily integrate sustainability data directly into their PIM/PLM.
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Another one of the popular companies for food supply chain digitalisation is kaiosID (kaiosid.com). As an invisible product identification solution, kaiosID adds a fingerprint to your product's packaging, giving every product unit its own unique identity. The cloud-based traceability solution helps mitigate counterfeiting in highly globalised supply chains where transparency and traceability can be a struggle.
Seedtrace
Make your food and beverages supply chain transparent with Seedtrace (seedtrace.org). The company offers solutions such as end-to-end traceability, supply chain transparency, CSR insights and reporting, and Sustainability communication. Food companies can use a holistic approach and an end-to-end traceability platform to collect, assess and share pertinent supply chain and impact data with all stakeholders along their supply chain.
Connecting Food
Based in Paris, Connecting Food (connecting-food.com) helps players in the food supply chain improve quality and minimise risk. Its blockchain platform offers complete traceability from farm to fork. Connecting Food’s solutions include Food Twin Generator, LiveAudit, LiveTrack, LiveScan, CSR Analyzer, FreshOrigin, and Food Twin Exchange. Users, ranging from farmers and primary producers and processors and manufacturers to brands, agribusiness consultants, and consumers, can benefit from Connecting Food.
TE-FOOD
The Germany-based TE-FOOD (te-food.com) uses blockchain technology to analyse and optimise supply chain processes. It simplifies, expedites and secures traceability with a range of tools and solutions for the food supply chain. These include product serialisation, data capturing, TrustChain - TE-FOOD’s blockchain solution, data processing, and data presentation to improve consumer engagement.
Genuine Way
Based in Switzerland, Genuine Way (genuineway.io/en/) is a software company specialising in the development and distribution of blockchain-integrated solutions. Its solutions are used by manufacturers of consumer goods in the food, fashion, cosmetics and pharma industries. Through its digital platform, ITEMx®, Genuine Way promotes connectivity between brands and consumers by evaluating, notarising and publishing manufacturers’ supply chains.
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fkon Consulting
fkon Consulting (fkon.de/en) is a tailor-made digital merchandise management systems provider. It leverages SAP technology to foster food safety, transparency and efficiency. Its fkon-SAP-LIMS is a Laboratory Information and Management System (LIMS System) designed for the process industry – food, chemical, and pharmaceutical industries. fkon SAP applications control specification and quality management, batch management and batch traceability, and laboratory information and management system.
ColorSensing
A Spin-off from the University of Barcelona, ColorSensing (color-sensing.com/en) is revolutionising the food packaging industry. Its FoodSensing, a color-based sensing solution, helps food manufacturers and retailers minimise food waste and supplements the quality of their products thanks to an automatic, quantitative and cost-effective food freshness indicator.
Top industry players leveraging digital transformation in F&B supply chain
Nestlé: Integrates IoT devices and blockchain to supervise and ensure the quality and traceability of its products from farm to fork.
Walmart: Using blockchain for traceability and AI for demand forecasting, improving inventory management and reducing waste.
Amazon Fresh: Employs robotics solutions for efficient warehouse management and AI for personalised customer experiences and inventory optimisation.
Unilever: Utilises blockchain for supply chain transparency and data analytics for optimising production and distribution processes.
Anheuser-Busch InBev: Leverages AI and machine learning to optimise brewing processes while improving supply chain efficiency
Ninjacart: Connecting farmers with retailers using AI, data analytics and IoT to streamline the supply chain and lower food wastage.
WayCool Foods: Uses AI for demand forecasting and IoT for real-time monitoring of supply chain operations.
AgroStar: Harnessing data analytics to provide farmers with insights and IoT to improve agricultural productivity.
Stellapps: Utilises IoT and data analytics to boost dairy supply chain efficiency and ensure quality control.
Danone: Leverages blockchain for traceability and IoT for monitoring production processes to ensure product quality.
The bottom line
The integration of digital technologies into the food and beverages supply chain transforms the sector by increasing transparency, efficiency, and sustainability. Companies must examine their strategies and goals and then embrace digital transformation solutions. As the industry continues to evolve, Industry Automation believes that digital technologies will be essential for businesses seeking a competitive edge in a dynamic market.
References
https://elisaindustriq.com/blog-food-beverage-ai-revolution-transforming-supply-chain-management/
https://www.supplychainbrain.com/articles/30854-supply-chain-digitization-in-food-and-beverage
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