Page 27 - Demo

27The Constant Rising Costs and Increased AmbiguityGrowing uncertainty in the marketplace is a matter that is faced by the food and beverages company. Some companies of food may look for smaller warehouses that can manage supplies, but the rising storage costs may be prohibitive. Another uncertainty that includes here is increased labor costs and tightening workforce challenges. The companies are also facing issues with ontime delivery due to the ongoing truck driver shortage. Innovation and VariationPurchasing has vast availability of products, with so many different products that are available for the purchase in a crowd of channels like starting from in-store, farmer%u2019s markets, online, social media, and more. The product innovation and differentiation are considered to be important in the food and beverage companies. Creating some solutions that would meet consumer preferences around sustainability such as edible packaging will be on the growth. The innovative way to automate repetitive processes that provide good opportunities for businesses in the matter of improving production, back-office processes, supply management, fulfillment, and delivery. Adding to that, using acquired consumers and business data for better business decisionmaking will be implementing a comprehensive digital strategy. Merger and AcquisitionsCompanies looking forward to spreading their investments across smaller brand acquisitions in accordance to round out product and geographic portfolios versus investing in their own research and development to help in saving time as well as money and reaching new customers. Private Equity (PE) companies that have operated in the consumer brand space will have a need to adjust their strategy along with looking for deals further down the market. The companies will even take on acquisitions in segments that have better prospects as a salty snack food, snack bars, cookies, and ready-to-eat meals, even if they are outside their traditional business. 27