October 3, 2018      3 min read

Understandably the food and beverage industries are one of the most regulated sectors globally; mistakes with the handling, preparation and storage of food can be a cause of serious health threats for consumers.

By implementing an online inventory management system into your operations you can better meet regulatory obligations and safely manage your food inventory stock. Online inventory management software can assist in the following five areas.

Compliance

The regulations governing food and beverage processing and distribution are numerous. The consequences of non-compliance can result in repercussions from both regulatory agencies and consumers, therefore, non-compliance is not an option.

To reduce the risk of failure to satisfy regulations, all relevant and necessary data regarding each product must be heavily scrutinised and actively monitored. Manual cross-checking is not only time-consuming but also increases the risk of human error.

Online inventory management software helps reduce the risk of human error and provides greater functionality for batch and lot traceability. Giving you a more accurate and up-to-date report on your food inventory status. This improved visibility allows you to track products quickly and easily in the event of a contamination, and to efficiently undertake product recalls if necessary.

Compliance is vital to sustaining a successful food or beverage business and failure to do so can result in operational downtime, shutdowns or financial loss.

Predictability

Predictability is a significant part of effective inventory control and food inventory safety. The ability to predict the seemingly unpredictable revolves around having an in-depth understanding of the ups and downs of customer demand.

In an industry reliant on perishable products and limited shelf life, overstocking is a major issue; over 50 percent of food and beverage managers admitting to struggling to predict long and short-term demand forecasts.

Online inventory management enables high levels of business intelligence and improved demand forecasting. The real-time functionality of the software enables managers and business owners to rapidly adapt to changing environments and market demand.

Traceability

Maintaining freshness of raw food inventory is important and it is equally important to ensure the wrong ingredients and not accidentally included. With consumers increasingly becoming susceptible to food allergens packaging needs to be properly labelled. Food inventory found without allergen warnings represent a serious breach of compliance.

Online inventory management software facilitates a more precise monitoring of product ingredients throughout the supply chain. Detailed reporting enables more ready discovery of wrong ingredients, while also addressing contemporary marketing and consumer trends such as ‘farm to fork’ transparency.

Planning and scheduling

Timeliness is everything in food and beverage inventory management, which places an added pressure on supply chain processes. Production planning and transportation schedules work to strict timetables to preserve ingredient and product quality control.

Optimise scheduling functions of online inventory management software provides a streamlined method to manage the production and shipping schedules. Automated timetables can be arranged by priority to fit with the company’s current requirements. In addition, conflicts between processes are more easily identified, helping to avoid potential contamination or non-compliance issues.

Online inventory management software

Online inventory management helps food-based businesses to comply with regulations. The software offers a streamlined compliance monitoring process in all areas of distribution, limiting the risk of potential product recalls.

It can trace and track products and ingredients, with the real-time food inventory data helping to improve waste reduction for greater profitability.

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