Featured Research
Due to the increased cost of energy and dependence on foreign oil and the environmental impact of current energy usage, many companies have elevated the concept of "going green" to the top of their agenda. Both federal and state governments are expanding tax credits, incentives and grant programs to help companies produce energy from renewable sources and to encourage businesses to "go green".
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Today's manufacturers, distributors and retailers are focused on reducing costs across the supply chain and growing their businesses. At the same time, they are grappling with growing environmental/sustainability concerns, rising transportation prices and worries about supplier reliability. Results from our new survey, conducted in partnership with World Trade magazine, provides key findings and recommendations for navigating these uncertainties.
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The long-standing belief that the food and beverage industry is recession-proof was tested and ultimately disproved in the last year. Yet, many manufacturers were better prepared than others to address the downturn, thanks to an early focus on cost-cutting in the face of shrinking margins. What will food processors do in the months ahead? Grant Thornton LLP, in conjunction with Food Processing magazine, conducted a series of bimonthly surveys over the past year to provide a pulse-check on the industry before and during the recession. This report, Fast Facts on Food Processing: Looking back, looking ahead highlights the industry's main challenges, opportunities and strategies for growth.
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Amid the volatility in the overall economy, and the food and beverage market in particular, M&A activity has declined from past years, but has showed signs of vigor in the past several months. This report takes a look at food and beverage companies across the supply chain and identifies which sectors are well positioned, or not, for an economic recovery.
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This snapshot contains timely commentary on key factors affecting the food and beverage industry and an overview of trends in mergers & acquisitions ("M&A"), including a summary of industry stock market performance.
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Companies doing business overseas must be prepared to navigate an obstacle course that includes exchange rate shifts, supply chain disruptions, tight credit markets and nearly unprecedented economic volatility. But which hurdles are companies most concerned about? And what are they doing to maximize success during these uncertain times? Results from our new survey, conducted in partnership with World Trade magazine, provides key findings and recommendations for navigating these business uncertainties.
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Beyond consumer demands and social responsibility, many food and beverage manufacturers’ green efforts are driven by another objective --- profitability. Forty percent identify potential profits as a key motivating factor in their green strategies. Yet, others cite energy tax credits (27%) in the economic stimulus package and the economic recession (23%) as two additional reasons for increased emphasis. Regardless of the motive, the trend toward being “green” is showing no signs of abating in the near term.
While it’s no secret that food and beverage companies have placed a greater focus on greening their facilities, supply chains, products and packaging, only 39% of respondents report they have staff on board dedicated to these initiatives. As a result, measuring success and achieving substantial results can be challenging. But, the companies who are able to effectively implement green practices and adopt a green mindset will be well positioned to cash in on this lucrative market.
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The economy is exerting tremendous pressure on food and beverage manufacturers as they try to maintain profitability while satisfying price-conscious customers. Companies that supply and support these manufacturers have compounded the industry's challenges with price increases on key ingredients and services. As a result, companies in this segment continue to struggle to find the right balance of price, margin, quality and innovation.
Click here to view survey 5 of 6 on supplier relationships View surveys 1 - 4
International sourcing is far from a new concept in the manufacturing world. Many large U.S. companies have been outsourcing to various international locations, including China, India, Mexico and other countries, for well over a decade. Yet, according to our new survey, conducted in partnership with
World Trade magazine, a substantial number of those surveyed recently have made changes or have plans in the near future to bring sourcing closer to home.
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The
IndustryWeek/MPI Census of Manufacturers provides an overview of North American manufacturing production metrics and best practices, and is intended to help manufacturers across the United States, Canada and Mexico benchmark their operations and better understand how to improve performance.
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The credit crisis is spreading fear throughout the business world. Slowing growth, weakening demand and reduced lending by banks compound an already difficult environment in which key commodity prices are rising rapidly. Yet businesses that are well capitalized, well positioned and well managed should still see opportunities. It is when management teams ignore the fundamentals that they begin to run into trouble. To help companies "take their pulse" and prepare for a potentially prolonged economic downturn, Grant Thornton has created The credit crunch: a practical guide. The guide explores the causes of the financial crisis and provides practical advice on how to instill rigor and discipline to business practices.
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Grant Thornton Corporate Finance LLC is pleased to present its summer 2008 Food Industry Snapshot. The snapshot includes timely commentary on key factors affecting the food industry and an overview of trends in mergers & acquisitions and stock market performance in the food industry. Each issue also includes a sector focus section aimed at providing sector-specific trends, M&A and public market information. This issue's sector focus is the snack food industry.
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In a testament to management and to the hard work of thousands of employees, most of our Top 100© food companies turned in respectable years in 2007. Despite all the grousing over how tough the past year was, all of the 10 largest companies managed sales increases, and seven out of the 10 improved profits as well. Much as we try not to turn this into a footrace each year, it's difficult not to acknowledge the shuffling of the top three finishers on our list and the remarkable sprint of the North American operations of perennial No. 4 Nestle.
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Key Research
In this video, Tim Schram, director of incentive services from Grant Thornton LLP, and Food Processing editor Dave Fusaro cut to the chase and give you five tips food processors' should follow to get the most financial incentives for your new or expanded plant.
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The second annual survey of the warehousing and distribution industry explores performance in this critical sector by surveying metrics, management practices and business concerns at more than 200 warehouse/distribution facilities in the United States. Distribution 2008 examines the survey responses of distribution managers around the country and defines the practices and performances that correlate with success — and stronger supply chains — as well as offering benchmark metrics for key areas of operation.
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What a disastrous year for food safety! And what about energy and commodity prices? Dexter Manning, national food and beverage industry leader from Grant Thornton LLP, and Food Processing Editor Dave Fusaro examine the issues keeping food executives up at night and all the results from the seventh annual Manufacturing Trends Survey. It's give and take you can see and hear in video, and you can also download the full report.
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One of the largest annual studies of U.S. manufacturing metrics, managing practices and financial results conducted at the plant level. This analysis offers relevant data for U.S. manufacturing executives sorting through industry challenges and a solid basis for the improvement of individual plant performances.
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White Papers
Any decision to manufacture in China needs to be made with full knowledge of the practices common in the China manufacturing sector. Our research, based on the experience of Grant Thornton professionals “on the ground” in China, turns up differences between practices in the U.S. and China in a wide range of areas, from on-time delivery to marketing strategy. Grant Thornton LLP's white paper Is China in your future? spotlights 10 emerging issues that we encourage you to factor into your China expansion decisions.
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Economic factors, including lack of access to capital, made some food and beverage manufacturers wary of investing in their companies in 2008, and even more cautious in 2009. Yet new research reveals that many others will continue to expand, confident that careful investments now can provide big returns in the future.
Click here to view survey 4 of 6 on investment amid a down economy
Arguably, 2008 has been the most challenging year in decades for most industries. With the current economic recession making consumers fearful of overspending, food and beverage manufacturers have anxiously looked out over their markets — groceries and other retail outlets, eating establishments, etc. — trying to project their sales opportunities (or lack thereof). Most food and beverage manufacturers, though, remain reasonably optimistic about this year and next.
Click here to view survey 3 of 6 on growth, projections and reflections
Outsourcing provides options for food and beverage manufacturers to grow their businesses, fill niche product lines, and execute many functions more efficiently — from R&D to production to maintenance. Yet, new survey findings indicate that outsourcing is not favored by all, and for many, it has left a bad taste on their respective company palates. This second study — Outsourcing: Friend or foe? — examines which functions food and beverage manufacturers are outsourcing, their reasons for doing so, and their levels of satisfaction.
Click here to view survey 2 of 6 on Outsourcing
It's been a challenging year for food and beverage manufacturers. The most obvious source of discomfort is an ailing economy, which has pinched consumer demand. But supply chain issues — including ingredient availability and vendor pricing — also are squeezing margins.
Click here to view survey 1 of 6 on supply chain pressures
