The food and beverage industry is constantly evolving, with new trends and challenges emerging all the time. In order to stay competitive and successful in this fast-paced environment, it is crucial to ensure that your product data is accurate and traceable. By adopting global traceability standards, food and beverage organizations can not only cut costs but also boost efficiency and safety.
Recent regulatory requirements at both the federal and state levels are expected to have a significant impact on the industry. Tariffs and inflation are also affecting businesses, along with ongoing labor shortages and high turnover rates. In fact, 78% of U.S. restaurant owners report insufficient staffing to meet customer demand, leading to a push for operational efficiency to maintain quality.
Technology-driven disruptions are also transforming inventory management, production, and consumer preferences. Consumers today are seeking greater transparency in products and menus, looking for information on sustainability initiatives and allergen details.
In order to adapt to these changes, companies are focusing on improving their data quality practices and establishing a common business language to connect suppliers of all sizes. Interoperability for end-to-end supply chain visibility is no longer a competitive advantage but a necessity. Companies are using this extra time to dig deeper into data quality and structure their master data foundation to include unique identifiers for products, locations, and logistics units.
One practical way to strengthen this foundation is by adopting 2D barcodes, such as the GS1 Data Matrix, which can encode product identifiers, lot numbers, and expiration dates in a single scan. These barcodes not only help companies comply with regulations but also offer consumer-facing benefits like increased transparency and engagement.
Better data and traceability have clear financial and strategic benefits for companies. By automating processes and cleaning up master data, companies can mitigate the impact of labor shortages and save money. During a crisis, better traceability data and sourcing information can be a lifesaver, allowing companies to make faster and more confident decisions.
When it comes to achieving better data and traceability, it’s important not to wait for perfection but to start the journey and progress towards your end goals. By focusing on high-volume and high-risk products impacted by regulations like FSMA Rule 204, companies can start to see benefits and make progress.
GS1 US provides a wealth of resources to educate and guide companies on their traceability journey. By leveraging data and traceability, food and beverage organizations can not only navigate industry upheaval but also thrive in the face of challenges and disruptions.
