In recent years, several global market events have impacted the baking industry. Coronavirus caused major labor shortages and greatly impacted cost of goods and supply/demand. Bad crop cycles have caused shortages of essential ingredients. War in Eastern Europe created massive shortages of ingredients like wheat and sunflower oil. Labor shortages resulted in manufacturing facilities running at less than full capacity; and impacted the ability to ship goods in a timely and cost-effective manner. We are now able to see just how fragile the global supply chain is.
It is crucial that manufacturers are positioned to adapt and mitigate the impact of these market changes. Manufacturers must find a way to meet customers’ demand for product, as well as balance the market constraints such as product availability and rising costs. They must continuously invest in the productivity and efficiency of their facilities to ensure that they are optimized for performance and poised for growth even during challenging times. Formulation adjustments for processing aids should be evaluated to determine whether there are alternatives that will meet production demand, while still satisfying consumer needs. Working with trusted supplier-partners, who are prepared for these major market events, is now more valuable than ever.
- Understand the balance between market constraints and consumer demands
- Optimize their manufacturing facilities for continued success, and improved performance during challenging times
- Develop a strategy around product formulation that is highly effective when raw materials are not readily available or have significantly increased in price
Breakout 7: Planning for the Next Pandemic
Thursday, March 2, 2023
1:15pm – 1:50pm
Laura Williams, Vantage
Jon Sperry, Vantage