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•    The Food and Beverage Industry includes all the companies involved in transforming raw agricultural goods into consumer food products.
•    The overall industry supply chain includes food processing, packaging, and distribution. It does not cover raw food production, which falls into the closely related agriculture industry. 
•    This industry includes fresh food, packaged food, and beverages (both alcoholic and non-alcoholic). From food sold at the grocery store to cooked meals served at restaurants, institutions, and events, this industry serves a huge variety of retail outlets.

Examples of Food and Beverage Processing

  •     Turning fresh milk into anything from dehydrated power to a fine cheese.

  •     Processing whole plants like carrots into diced or cut packaged goods.

  •     Transforming grain into flour and then a variety of baked goods.

  •     Butchering pig, cows, chickens, etc. (A single plant, for example, can process 1000’s of cattle in a single day).

  •     Adding chemical components like preservatives to enhance shelf life and reduce spoilage. Nutrient fortification is another prominent example.

  •     Using proteins to manufacture the new wave of synthetic meats: a great example of how this industry creates not only new products but whole new product categories. For more on current and emerging food industry trends, check out our blog post.

  • All of these processes come with urgent packaging and distribution timelines, often with an imperative to complete the process, with processed food out the door, in under 48 hours from receiving raw food from the farm.

Food and Beverage Industry Pain Points

  • While different food categories require very different production processes, some challenges are broadly shared in the industry.

  • The food and beverage industry is tasked with solving some unique business challenges:

  •     A time-sensitive supply chain where the product can go bad fast. This reality means food companies are always on a schedule, need to plan for specialized storage and transportation, and have to practice careful inventory control.

  •     A manufacturing production environment with unique demands for hygiene and safe food handling. This imperative includes everything from exhaustive equipment cleaning requirements to tight controls and potential allergens.

  •     A highly regulated industry that needs to carefully ensure production practices are up to code.

  •     A tendency toward price-sensitive products where every margin matters.

Why DAX?

•    Bookkeeping    
•    Financial Advisory
•    Annual Accounts
•    Point of Sales system integration
•    TAX
•    Payroll
•    Management Accounts
•    Project status reports
•    VAT Support
•    Cash flow management and budgeting
•    Revenue recognition and Cost Analysis 
•    Inventory Management
•    Cost and benefit analysis 
•    Business strategies 
•    Workflows preparation and management
•    Policies and procedures management
•    Virtual CFO services (Hands on experience)

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