What hinders the work of food producers in Ukraine and globally?

Tuesday, May 28, 2024
What hinders the work of food producers in Ukraine and globally?

According to global consulting firm WTW, 48% of the world’s food and beverage companies cite business interruption as the biggest internal risk to their success. Supply chain risks come in next at 40%.

Managing turbulence and potential disruption has become standard practice in the food sector, fueled by global instability, conflict, climate change, and the cost-of-living crisis. More than 41% of companies cited improving liquidity as a top strategic goal for the next two years, ensuring they have the financial resources to weather further shocks. Other priorities include cost reduction (38%) and business stabilization (35%).

However, companies increasingly doubt their ability to keep up with rapidly changing consumer preferences: 36% see this as a risk.

Despite these challenges, food companies are actively working to improve sustainability. Almost half (47%) review their business continuity plans every six months, and 31% do so quarterly.

 

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