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In this comprehensive article, we’ll explore the role and importance of expiration date tracking in the success of food brands, particularly in the face of evolving consumer preferences and the boom of e-commerce. You’ll gain insights on the significance of shelf life, the necessity of reviewing expiry date strategies, the migration of food services into the digital space, and the impact of centralized expiry date tracking on food logistics and warehouse management.<\/p>\n
Key Takeaways:<\/strong><\/p>\n Even prior to 2020, the food and beverage industry was already witnessing major changes due to rapidly shifting consumer preferences. Today, largely due to the Covid-19 crisis, these trends have accelerated considerably. As a result, an explosion of consumer interest<\/a> has occurred in locally sourced, fresh, organic, natural, and sustainable products.<\/p>\n <\/p>\n In response to these new demands, disruptive innovations from the supply side have appeared, especially in the home delivery space. Many of these new offerings have been embraced by consumers, and a variety of well-funded start-ups have entered the food supply sector.<\/p>\n Given these new challenges in an already intensely competitive market, inventory solutions (e.g. automated expiration date tracking) remain critical. From early-stage companies to the largest food brands, the increased pressure on the demand-side calls for innovative supply-side solutions to remain competitive.<\/p>\n In this guide, we\u2019ll help you understand:<\/p>\n <\/p>\n For decades, logistics networks were built around a demand for heavily processed foods with an extended shelf life. Large manufacturing plants and bulk shipments drove the majority of product assortment decisions. Also, outbound distribution models were designed to maximize profit relying on fairly predictable demand. Now, as on-the-go consumer demand increases daily, food businesses require more logistical efficiency and agility.<\/p>\n As more fresh food and wider food varieties grow in demand, along with increased health-conscious dining, keeping track of the shelf life of food has become paramount. This not only ensures customer safety and satisfaction, but it also affects the cost of doing business.<\/p>\n These issues can also be applied to other industries with time sensitive products such as pharmaceuticals and other medical goods.<\/p>\n Minimize time on outdated processes by setting up custom configurations specific to your business needs. Logiwa Inventory Management system.<\/a><\/p>\n One area that illustrates the challenges facing the food and beverage industry is cold storage. Here we can see clearly why it\u2019s important to check product expiry dates using new technologies.<\/p>\n For food sales, food safety<\/a> is rule number one. You want to know exactly where you source your supply from at all times. To do this, cold storage warehouses use custom lot numbers to track the produce source. Tracking the expiry date of inventory and the temperature of a specific lot freezer keeps food fresh and allows for proper disposal of expired goods.<\/p>\n Expiration date tracking can trace lot numbers, expiry dates, and best before dates automatically. This prevents expired goods from getting shipped by mistake. Additionally, it helps food businesses remain compliant with safety regulations.<\/p>\n The weight of meat, poultry, plant-based, and nearly any other food product is temperature sensitive. Therefore, it\u2019s important to track the \u201ccatch weight\u201d as a point of reference for inbound and outbound logistics<\/a>. Catch weight is a food industry term meaning the \u201capproximate weight\u201d for food products of various sizes. Processes that keep track of catch weight will improve inventory accuracy<\/a>.<\/p>\n Cold storage facilities consume enormous amounts of energy. The longer food is stored, the more power required to keep it cold. Energy costs can be minimized with streamlined organization since storage times can be reduced by keeping stock for only as long as you need it. Many food brands turn to third party logistics (3PL)<\/a> to manage their stock. One advantage here could be food storage consolidation with other companies which translates into shared energy costs.<\/p>\n Not all food can or should be frozen. Medications may require specific storage temperatures as well. In order to store each type of food at its optimal temperature, it\u2019s important to accurately match lot numbers<\/a> to temperature to keep it all organized. Automated warehouse software solutions<\/a> make temperature to food matching simpler and more accurate.<\/p>\n This method means the goods you receive in your warehouse first are the first to be shipped out. This obviously makes sense for expiration date sensitive food, and even for the longest shelf life food this makes a difference. Perpetual inventory<\/a> counting keeps track of stock in real time, and updates occur automatically each time a product sells. This level of reporting improves operations and optimizes storage times.<\/p>\n No matter what\u2019s being stored, people are involved in picking, packing, and shipping. Every step involves a cost unit, and technology can help reduce how far employees have to walk when receiving goods and filling orders. For instance, warehouse layout<\/a> and pick path optimization<\/a> can be achieved with the help of software to find the shortest and most efficient routes.<\/p>\n Overstocking in the food business can damage revenue unlike anything else. Consumer tastes can change rapidly, so accurate storage and supply data is critical. If you have automatically updated data on-hand at all times, you can respond to shifts in demand more rapidly. For example, businesses can quickly offer discounts on goods where there is a surplus.<\/p>\n <\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.22.2″ _module_preset=”default” width=”auto” custom_margin=”30px||||false|false” custom_css_main_element=”.hbspt-form .legal-consent-container a {|| color: white !important;||}” locked=”off” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”4_4″ _builder_version=”4.22.2″ _module_preset=”default” use_background_color_gradient=”on” background_color_gradient_stops=”#481a96 0%|#200741 100%” custom_padding=”15px|35px|15px|35px|true|true” border_radii=”on|10px|10px|10px|10px” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_text _builder_version=”4.22.2″ _module_preset=”default” header_3_text_color=”#ffffff” header_3_font_size=”30px” hover_enabled=”0″ header_3_font_size_tablet=”30px” header_3_font_size_phone=”20px” header_3_font_size_last_edited=”on|phone” global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″]<\/p>\n [\/et_pb_text][et_pb_code _builder_version=”4.22.2″ _module_preset=”default” text_orientation=”center” global_colors_info=”{}” theme_builder_area=”post_content”]\n
Expiration Date Tracking Could Make or Break Food Brand Success<\/h2>\n
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Shelf life is more important than ever<\/h2>\n
It\u2019s time to check expiry date strategies<\/h2>\n
Ability to Track & Trace<\/h3>\n
Catch Weight Record<\/h3>\n
Energy Savings<\/h3>\n
Multiple Temperature Zones<\/h3>\n
First In First Out (FIFO)<\/a><\/h3>\n
Labor Issues<\/h3>\n
Overstocking<\/h3>\n
Unlock a personalized tour of Logiwa IO<\/h3>\n