We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • SUBMISSIONS
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
Home » Report: Food industry seeks to mitigate supply risks

Report: Food industry seeks to mitigate supply risks

Industry execs say supply chain bottlenecks are top of mind in 2022, and list shipping and container costs, unexpected port fees as top concerns, study finds.

Screen Shot 2022-03-21 at 12.43.15 PM.png
March 21, 2022
Supply Chain Quarterly Staff
No Comments

Leaders in the food and beverage industry are stepping up their efforts to mitigate supply chain risks following two years of delays and disruptions to business operations, according to a report from New York-based advisory firm Mazars.

Supply chain issues rose to the top of industry leaders’ concerns in the firm’s Annual Food & Beverage Industry Outlook for the United States, with 54% of survey respondents saying their top industry concerns in 2022 are shipping costs, container costs, and/or other unexpected fees at ports. Other concerns include rising commodity costs (39%), the need for supply chain improvements (39%), delays due to shipping congestion (38%), and truck/driver availability (33%).

To combat the unpredictability and better manage risks and costs, 41% of respondents said they are making strategic investments in supply chain diversification, and 45% reported plans to increase their number of suppliers this year. Survey respondents also said they plan to source more domestically and seek alternative products (30%, respectively) to address supply chain snags and bottlenecks.

When asked how they will prioritize supply chain improvements, respondents said they will focus on cost of goods (22%), followed by product delivery time (18%), knowledge and information sharing (16%), and food safety (14%).

“The food and beverage industry continues to show resilience in the face of many obstacles,” according to Kristen Walters, Mazars Food & Beverage practice leader. “Business leaders are overcoming supply chain issues and inflation woes by making innovative decisions that are resulting in new products and purchasing channels for consumers.”

Mazars polled 60 food and beverage industry executives for the annual report.

Screen Shot 2022-03-21 at 12.42.57 PM.png/

Logistics Strategy
KEYWORDS Mazars
    • Related Articles

      Avetta One Is Helping Companies Uncover and Mitigate Hidden Financial Risks in Supply Chains

      Sourcing internationally: Six risks, and how to mitigate them

      Report: global manufacturing and sourcing raise risks for pharma industry

    Recent Articles by Supply Chain Quarterly Staff

    DAT Freight & Analytics says new tool tackles spike in identity fraud

    Ryder rolls out BrightDrop electric rental vans at sites in CA, TX, and NY

    FourKites launches generative AI product to uncover insights from supply chain data pools

    You must login or register in order to post a comment.

    Report Abusive Comment

    Most Popular Articles

    • Positive drug tests in U.S. workforce rise to 20-year high as marijuana is legalized

    • Wabash opens trailer manufacturing facility in Indiana

    • Six defining challenges of omnichannel fulfillment

    • Postal advocacy group says “excessive” July 9 stamp price hike will hurt consumers

    • CPKC and CSX buy rail assets from Genesee & Wyoming

    Featured Video

    8757b894 244c 4429 b5d8 e6df7b479d82

    Penalties for Wood Packaging Material Violations

    Viewer Contributed
    Our Services Include: Customs Broker Denver Freight Forwarder Denver Global Logistics Denver Cargo Insurance Denver Customs Bond Denver Customs Clearance Denver Customs Duty Denver Isf Filing Denver More details: Phone : 281-445-9779 Email: info@gallaghertransport.com Website: gallaghertransport.com

    FEATURED WHITE PAPERS

    • Five questions to ask before electrifying your indoor forklift fleet

    • Operator assist system myths busted

    • Three layers of forklift safety: Promoting operating best practices

    • The Complete Guide to Automated Packaging

    View More

    Subscribe to Supply Chain Quarterly

    Get Your Subscription
    • SUBSCRIBE
    • E-NEWSLETTERS
    • ADVERTISING
    • CUSTOMER CARE
    • CONTACT
    • ABOUT
    • STAFF
    • PRIVACY POLICY

    Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing