Managing Supply Chain Instability
The food industry supply chains have been challenged with severe weather events, price volatility, competition for planted acres, and global disruptions in trade and transportation as evidenced in the Black Sea region. Peter F. Levangie, president and chief executive officer of Bay State Milling Co., noted that companies are increasingly sourcing closer to home and avoiding reliance on a single supplier. Innovations that lead to more drought resistance varieties and reduced reliance on overseas suppliers for ingredients, such as high fiber wheat flours, also will limit exposure. Jeff Zyskowski, vice president and supply chain lead for Ardent Mills, Denver noted the importance of strong collaborative partnerships to anticipate any potential disruptions and leverage a broad supply and distribution network. New technology such as artificial intelligence (AI) could benefit supply chains as well. Software that allows companies to view entire the value chain can drive efficiency, manages costs, and react quickly.
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