The Food & Beverage (F&B) industry faces various regulatory challenges such as ensuring adherence to the ever-increasing compliance requirements for Food and Drug Administration (FDA), United States Department of Agriculture (USDA), & Environmental Protection Agency (EPA). The growing e-commerce sector has attributed to the rise of new distribution channels and F&B companies are always under pressure to minimize the risk of supply chain disruptions and customer dissatisfaction.
The risks of pesticides, cancer causing chemicals in food products, genetically modified organisms (GMO) and large scale food wastage are far too serious. In such a scenario, the food and beverage industry comes under additional scrutiny from various authorities in every market they operate. Here, a contract management solution for food and beverages vertical comes in handy to help the risk officers and compliance officers ensure organization wide efficiency at every step, without letting the policies become a bottleneck in business operations.
The rapid growth in food & beverage segment has given a rise to a new set of challenges and regulations that the companies must cater to. This segment has seen an increase in stringency of regulations like Food and Drug Administration (FDA) United States Department of Agriculture (USDA), and the Environmental Protection Agency (EPA). Moreover, the rise of new distribution platforms and e-commerce has increased the pressure on these companies to minimize risk of supply chain disruptions, overcome additional scrutiny and maintain positive customer relationships.
This has amplified the need for contract management for the food and beverage sector like never before, in order to remain compliant, ensure growth, and remain competitive in the ever-evolving market.
Zycus’ Enterprise Contract Management Software for Food and Beverage industry enables organizations to streamline all contracting processes, reduce risks, and design a better compliance management framework:
Find out how to create a strong foundation for boosting enterprise-wide contract compliance