Food And Beverage Industry Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Food And Beverage Industry The case solution

Evaluation of Strategies

As we have discussed, the companies are adopting the FIFO method and along with that an approach can be maintained which help the managers in checking the time consumed bu the products’ lifecycle from its production to the distributors to customer. The approach can better help in maintaining the products’ distribution. Along with that, in my opinion; the best way to cater to the companies’ capital requirement and to increase their sales is to start an online service that delivers fast and accurate products. This will not only help in increasing the sales but also will save the compnies from trade promotion issue and the expiry issue if the companies will deliver their products directly. Another issue in the strategy is of decreasing trade promotions: if the companies decrease the trade promotions; the distributors will be least interested in the products and will switch to other suppliers, so the companies shouldn't go for this strategy as it can further decrease their sales. If the retailers are given incentives; their interest towards companies’ products would increase, which in turn can help in increase the sales. Companies should focus on developing more trade relations with their partners so that their operations could expand. Another method that companies should adopt is restructuring of the business, because the pandemic is going to last longer, so to sustain their businesses; the companies would be required to integrate some technological changes, including: artificial intelligence and robots to minimize the human interaction. The contribution of reduction of industry in the country’s GDP is another long-term impact and its expected that the entire world is going to suffer due to the pandemic, so the governments need to take certain measures, such as: offering incentives to the industries so that the companies could manage to at least break even. Though there are certain strategies that companies have adopted to recover their losses but these strategies would not completely omit the effect which the pandemic has caused on the entire world.

The strategic landscape in this industry after the pandemic

The COVID-19’simpact will most likely be everlasting,as this has now become the new normal. People have somehow learned to live this new way of living their lives. The world is more unlikely to change even after the pandemic, as now people are more comfortable with this environment. Online grocery shopping has made lives easier for the residents. People are now not interested in going to the supermarkets and buying groceries. It is more convenient for them to order online and get the products delivered to them at home. Most of the strategies that the food and beverages industry has adopted will be implemented forever, such as:the FIFO method. Along with that, the technological changes are the main factor in this pandemic, which tend to impact the economy in the long run,such as: from going to shop and buying the products ourselves to sitting at home and ordering whatever we want. Consumers’ preferences have changed and now this is going to last forever. With this increase of interest in online shopping; marketing techniques will also change from TV advertisements to other online marketing methods. The supply chain will also require an improvement as groceries’ delivery also include fresh products which need to be delivered on time and safely. Companies will face the issue of fresh products’ delivery, so there should be certain measures to deliver the fresh products before they get spoilt. China’s delivery service has already automated the delivery service without touching the product and contactless payments. As more aged people are also buying online; the need for products pictures and easy descriptions would also increase so that the customers could buy without the products without any hassle.(memon & soomro, 2021)The retailers’ relations will not have much impact in the long run, because eventually after COVID; the retailers would be interested in buying the products and the companies will also provide incentives once their losses are recovered.

Analysis:

The questions covered are from the analysis of porter’s five forces, key success factors, ERRC model and pestle analysis. See appendix C,D,E,F for the models.

Conclusion

This report explains the impact of COVID-19 on the food and beverage industry. The industry has suffered from major losses due to the decline in sales, employees’ safety issues and sour relations with wholesalers and retailers. The pandemic has caused various troubles to the industry,as the restaurant industry was completely closed due to the strict lock-down being practiced global wise, which has devastatingly reduced the restaurants’ sales. In addition to that, the companies are also facing expiry issue because due to sudden lock-down the products inside some of the shops are left there and the manufacturers are worried about their near-approaching exprity dates. So to cope up with this situation; the companies took certain measures including the FIFO method for inventory and maintaining a rotation process for products. The companies reduced the trade promotions due to which the retailers were not motivated to buy the products, so to delight the retailers so that the sales’ volume would boost up; the companies started giving small incentives to the retailers. Companies have also started online delivery services which have helped them in generating higher sales. So, the COVID-19’s impact is going to last longer, including its impact on the return on investment and GDP, but the companies are trying to tackle this situation by continuous improvements and by having numerous advanced strategy implementations........................

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