Internet of Things (IoT) devices, which create a network between internet-connected physical devices, are increasingly becoming adopted in the retail setting as a way to digitize the consumer shopping experience and streamline back-end operations. The global expansion of IoT technology in retail is expected to grow from 14.5 billion in 2020 to 35.5 billion by 2025. Despite widespread worldwide economic uncertainty in the wake of the spread of COVID-19, shipments of IoT devices have grown to 10% more in 2020 and reached 718 million units.
In today’s connected world, consumers are more knowledgeable about what they’re consuming and buying on a daily basis. Consumers need to trust that the food they’re buying is safe to consume, and it’s the responsibility of food suppliers to protect the public against foodborne illnesses and follow FDA regulations. Despite efforts to improve food safety, foodborne illnesses and recalls are still a problem for many food and beverage suppliers. The COVID-19 pandemic has put an extra strain on food industry workers to take the necessary precautions and ensure food safety continues to be a top priority.
There is no doubt that the supply chain is growing at a rapid pace, with heightened customer demand impacting global fulfillment speeds and shortening shipment deadlines. In fact, two of the top challenges for manufacturers in 2020 will be the lack of supply chain collaboration and need for better supply chain visibility.
Technology advances in retail are an important contributing factor to a successful busy season. Retailers will also likely have to pivot their strategies to strengthen customer relationships and build brand loyalty through an online presence. Technologies such as predictive analytics and AI are helping companies collect and store useful data while predicting consumer habits, allowing brands to better connect with their consumers.
Can you imagine if you switched salt with sugar in your favorite chocolate chip cookie recipe? It would change entirely the taste and texture of your cookie. Now consider if you were missing an important ingredient in your Food ERP software solution. Finding the right ERP software for your food business can be almost as easy as following a recipe, if the software has all the right components for your business. Today we explore the top 3 must-have features that are critical ingredients for your ERP Software selection.
Exciting times are directly ahead in the ERP world, and we’re looking forward to seeing how these predictions take shape as 2020 unfolds. As we prepare to celebrate the incoming year, we’re also setting our sights on what’s ahead in the complex and fast-changing world of technology and in particular, what’s upcoming in the Enterprise Resource Planning (ERP) software space.What will be the driving forces within the ERP industry in 2020? Take a look at these predictions that are an assessment of what we see ahead for the ERP marketplace.