When is the Time to Invest in New Technology?

Changing investment behavior may also sit alongside the changing requirements placed upon food growers. Investment decisions may increasingly be made based on how successfully fresh produce organizations have deeply integrated data processing, data exchange and smart software.

The food retail buyers of the future may demand real-time data on the quality and timeliness of fresh produce as an essential requirement before making investment decisions. The inability to accurately provide pallet level data may be a barrier to securing orders and meeting enhanced consumer demands.

A recent Oliver Wyman report is adamant that this change is already upon us and the expectations of fresh produce companies are only going to increase: “What will change, though, are the requirements it places on growers and suppliers as new best practices emerge...while maintaining clean product master data may today be sufficient for growers and suppliers to qualify as potential suppliers (from a data integrity perspective), tomorrow the requirement may shift to the real-time exchange of a broad range of transaction data, including attributes that allow for full traceability.”

Fresh produce companies need to invest to meet the demands of the future; there is a need for a solid foundation of quality data, smart software, and a strong holistic understanding of all the risks and uncertainties present in the supply chain. Companies that invest in their people and their core technology infrastructure will have the right skills, insights and agile approach that is needed to prosper.

An extract from our Digital Story.