During the first half of 2020, despite the pandemic disrupting businesses in all sectors worldwide, the Singapore Food and Beverage (F&B) Industry maintained reasonably active in opening new firms. According to the information released by the Accounting and Corporate Regulatory Authority (ACRA), Singapore had a net gain close to 100 new businesses in F&B services from January to June this year. The majority of these new businesses - bars, kiosks, cafes, food caters, and large-scale restaurants - are being opened by extensive and well-funded firms trying to take this opportunity to seize up the market.
Still, that does not change the fact that the current F&B market is volatile, with unforeseen difficulties. Aspects such as;
The rise in S Pass qualifying salary and the entry restrictions for foreigners causing a labor shortage
High export bans from other Southeast Asian countries, increasing the prices of particular food commodities.
The health & safety measures in all public areas, transforming consumers' preferences and behaviors.
These are just a few examples of what enterprises are now facing. The truth is, many entrepreneurs have oversimplified the F&B industry and do not understand the high level of risk in entering this market. Many new entrants often only see the business opportunity but don't truly understand the whole operation.
To succeed in the long run, new firms must ensure they have an organized business operation and an efficient supply chain management system. Supply chain management benefitted not only by reducing unnecessary costs but also by boosting commercial growth and overall profitability. Businesses with poor control of their supply chain will lose portions of their profit throughout the years. In the time of crisis, those firms will not have enough cash to back up the business and cause a greater tendency of being affected, resulting in discontinuing future operation as seen with many during this pandemic. Hence, this is where we, Crystal Link Technology, comes into the formula.
Whether you are a small food manufacturer or F&B enterprise that’s expanding your outlet store, our SaaS product will help you optimize every step of your supply chain. We focus on providing the F&B industry with a standardized, quick deployment, and low-cost cloud management package covering everything from order, warehouse, transport, to billing. By supporting businesses to embark on digitalization and enhance operational efficiency, we aim to strengthen one's competitive advantage and long-term sustainability. Set up your Crystal Link service in just 2 weeks of time, and you can change the future of your business. If you think this is the solution you are looking for, give us a call or email us to get in touch.
Read more about our products: https://www.clt-apac.com/index.do?product