Journal of Food Processing & Technology

Procurement challenges in food and beverage packaging innovations

2^nd International Conference on Food & Beverage Packaging

June 13-14, 2016 Rome, Italy

Malligeswari Panneerselvam

Beroe Consulting, India

Posters & Accepted Abstracts: J Food Process Technol

Abstract:

Package formats, especially in food and bevearage space has gone through an array of changes over the recent past. Only 11% of consumers today are completely satisfied with their current packaging. Brand owners, who in the past decade had focused primarily on product safety and visual appeal, have elevated their focus to improve sustainability while regulating cost. The future however, is in the hands of brands that could innovate packaging formats, providing interactive, smart, functional and user convenient packages. However, bringing an innovative package into the market comes with a multitude of procurement challenges and questions, beyond the product in itself. Around 27% of packaging innovations fail because there is an unclear understanding of what exactly the consumer is looking for along with other factors such as failure in commercialization, late to market, product quality etc. A deeper analysis of these individual factors could help us understand that all these boil down to few of the operational downfalls which can be managed through efficient project management. By identifying the right set of raw material suppliers, converters and equipment manufacturers, cost savings of around 15-20% can be acheived when bringing out an innovative packaging format into the market. Key Questions to be Addresed: �?� Evolution of packaging formats and how does the future look like? �?� Has the package aged? What are the key influencing factors that drive innovation in packaging? �?� Key procurement challenges in successfully bringing an innovative package format into the market �?� How to successfully bring innovative package from design to store shelf? �?� How to strike a balance between innovation and cost? �?� Case-based scenarios analysing impact of innovative packaging formats

Biography :

Email: malligeswari.p@beroe-inc.com