food and beverage business development

Digitalization opportunities in the food industry

PROBLEM

The food industry is undergoing a shift in consumer preferences, with consumers increasingly becoming conscious of their choices. This is impacting their purchase behaviour as well as the overall food value chain from sourcing to sales. TechnoCo. sought to support its food industry customers by helping them identify improvement opportunities and supporting them in their must win battles.

Outcomes

12 Digitalization opportunities identified for three customers
3 Opportunities pursued by TechnoCo. for development

Quick summary

TechnoCo. is a leading IT and software company in the Nordics. TechnoCo. wanted to help its food industry customers in achieving their strategic ambitions. To achieve this, TechnoCo. wanted insights into the food industry through an outsider’s perspective .

The key questions were:

Q1. What are the trends driving the industry?

Q2. What are the value chain challenges faced due to changing market trends?

Q3. Identify customer specific low-hanging fruits based on their must-win battles?

Emerging themes affecting top and bottom-line growth

Our Approach

TechnoCo. utilized on-demand workforce to accelerate their understanding on the industry and the potential opportunities. This time-boxed sprint provided TechnoCo.’s with concrete opportunities to pursue with its customers.

Phase 1: Map industry drivers and their impact on key business functions

In order to identify the food industry drivers, the team first mapped the entire value chain. Next the team identified macro and micro trends shaping the industry. Finally, the team mapped the impact of each driver and sub-trend on key business functions.

Macro and micro trends affecting business functions

Phase 2: Creation of business renewal themes

The team collated business process challenges arising from to the impact of industry drivers. Three key business renewal themes were identified. Consumer oriented changes were grouped as ‘Voice of customer’, supply chain related changes were grouped into ‘Supply-chain a balancing act’ and asset utilization and waste problems were grouped as ‘operational performance’.

Phase 3: Opportunity validation

After the above exercise three TechnoCo.’s customers were selected to validate if these themes were also reflected in their activities. Based on these final recommendations were drafted and opportunities areas were highlighted for TechnoCo.

Results

TechnoCo. was able to validate and pursue 3 recommended opportunities, additionally got a fresh perspective to the industry. Finally with this engagement TechnoCo. was able to accelerate its business development by 6 months.

Contact us today at rahul.abhisek@strategycoglobal.com to learn more about on-demand workforce or book a meeting with us to accelerate development on your most pivotal projects.

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