Keep your eyes open

There’s heightened pressure to maintain margins due to inflation, growing interest rates and cost volatility especially for food away-from-home, ingredients, packaging, supplies and raw materials in Consumer Products foodservice. While inflation can push revenue up and help grow your topline, the real concern for CP manufacturers is that margins are shrinking. And if the cost of materials is up, you have to tighten controls to maintain your margins, but how?

Because manufacturers like you have no control over things like inflation, you must focus on what you can control. Even while riding a speeding rollercoaster, manufacturers need to fasten their seat belts and avoid closing their eyes to the volatility they are experiencing.

According to Forbes, “Smart companies are looking at margins daily. If you have proper technology, you should know your margin on every sale, every day.”