Operators around the world are facing supply chain issues such as inventory placement, manufacturing costs, and transportation and distribution costs.
In order to improve efficiency and increase profitability across the industry, the International Foodservice Manufacturers Association (IFMA) created the Supply Chain Optimization Committee (SCO).
Stemming from best practices developed by IFMA, the Supply Chain Optimization Committee is a way for chain operators, manufacturers, and distributors to collaborate and share the challenges they are facing, the solutions they have come up with– as well as data they have analyzed. The group also addresses the critical issues of stakeholders.
The SCO committee is made up of a couple different sectors. The Development board consists of chain operators, manufacturers and distributors. Other companies like Datassential and Havi (and of course IFMA) offer assistance behind the scenes with data analytics and supply chain services.
Operators might ask, “Why should I participate?”
Data from top industry leaders is imperative for analysis and results. That input gives insights on the current state of the industry. Such challenges like forecasting and speed to market are discussed.
For example, Cullen Andrews from Dot Foods notes “Forecastings tough. So I think everybody would say the silver bullet is, “Well if the forecast is right, then no problem!” There really isn’t a lot of planning that has to occur. And I think what we’ve all agreed to is that we have to come together with one primary assumption which is that the forecast likely will not be accurate.”
You can register for upcoming Supply Chain Optimization meetings here!