Food industry is huge. And given its size and scale, it has inherent problems that the players in the market face constantly and consistently. While food is perishable, revenues are meant to last. To keep oneself afloat and to rake in profits, a consultant is bound to give generic advice that might not resolve your core issues. Astro Strategist™ Hirav Shah is the go-to person who will give customised solutions that will be specific to you and your problem, keeping the dynamics of your industry in mind
Roti, kapada aur makaan, they say in India. It means food, clothing and a house that are essential for existence. So, food plays a prominent role in our lives. Today, thanks to increased consumerism, food is a huge business. The online disruption of the food industry has further added to the businesses’ revenue world over.
Food industry has a long supply chain, thrives on a large carbon footprint and is a people-centric industry. The food industries cover a series of activities that include production, distribution, processing, conversion, preparation, preservation, transport, certification and packaging of food stuff as per Wikipedia.
The industry today has two major variants. One is the small, labour-intensive, localised production and processing and distribution industry. These are your local farms that supply farm-fresh vegetables and meat to the people living in close vicinity to them. Here, the businesses purely rely on personal relationships and demand and supply is clear. There is no overproduction and the limited supplies are spread over the customer base.
Then there is the other side to the food industry. This is a more commercialised operation. Right from procurement till distribution level, everything is mechanised and the supply is enormous. Let’s take an example of giant supermarkets that store food in super large quantities. These are mass consumed by customers and rake in huge profits. Advertising, placement and retailing play a major role here. This level of food industry is capital intensive and labour intensive at the same time.
a) Agriculture which is raising of crops, livestock and seafood;
b) manufacturing of agrichemicals, agricultural construction, farm machinery, supplies, seed, etc;
c) food processing which is preparing of fresh products for markets and manufacture of prepared food products;
d) marketing which includes promotion of generic products, new products, advertising, marketing, campaigns, packaging, public relations, etc;
e) wholesale and food distribution which includes logistics, transportation, warehousing;
f) food service which includes catering; grocery, farmers’ markets, public markets and other forms of retailing;
g) local, regional, national and international rules and regulations for food production and sale including food quality, food security, food safety, marketing/advertising and industry lobbying activities;
h) education including academic, consultancy and vocational;
i) research and development in food technology;
j) financial services like credit and insurance – are all part of the food industry as per Wiki.
This totally increases the scope and scale of the food industry and therefore it becomes pertinent to understand how it functions and figure out the best ways to not just survive, but bring in profits consistently.
Let’s first consider the benefits of food industry
1) First and foremost, it is one of the biggest industries in the world, which provides livelihood to millions of people at various levels.
2) The processing of foods will help remove toxins from plants and animals, which consumed in their original form, can be hazardous to human beings.
3) Thanks to the food industry, various foods are available throughout the year and are preserved in their best form for consumption.
4) Various experiments and research in the food industry help to increase shelf life, consistency in taste and quality and helps in retaining the aroma and flavours.
5) Thanks to the deeply entrenched supply chain, there is ease in marketing and distribution. Right from procuring produce to selling it in retail counters, the system is well-organised and well-planned.
6) Due to the food supply chain, foods that are unseasonal are available throughout the year. Of course, there is a huge debate about eating unseasonal food, but at the heart of it, everyone enjoys a mango season.
7) The cold storage and various storage facilities coupled with good logistics, help in transportation of delicate, perishable food to long-away places.
8) Once again, thanks to research and experimentation, food is maintained safe by deactivating spoilage and pathogenic microorganisms.
9) The food industry is also quick to adapt to food fads and foods that are local to one community are available in other parts of the world, thanks to the enthusiasm and commitment of chefs and restaurant owners.
10) Fresh produce and health foods are in huge demand these days. The food industry is responding by changing and adapting itself to suit the market requirements.
Reasons for financial forecast of food industry
1) Big industry has big problems: It’s a huge industry. Being a part of such a large industry could mean various problems from time to time. While deals are made and contracts are drawn, situations could change and the final produce or product may not meet the quality criterion. This creates a sudden need for looking for an alternative.
2) Spreading across geographies: Today, the world is ruled by over-consumerism. People want more and more and more of everything. They want the best or the tastiest things wherever they are. This means chains spread across geographies. This could mean an increase in carbon footprint. Also, the food chains or stand-alone restaurants have to deal with fluctuating customer numbers.
3) Production: Production is a huge issue for the food industry. Despite best attempts and best investment of time and expertise, fresh produce can become scant due to disease, weather conditions and other environmental reasons. On the other hand, this could result in lesser production of processed food due to lack of raw materials. Similarly, changing tastes or new research about food or food habits could lead to constant changes in procurements.
4) Employee-centric: The food industry is heavily reliant on people. Of course, there are n number of foods that are produced mechanically in factories, but still the factories need manpower to oversee production. There are technical staff needed to oversee the working of machines, there are research staff who constantly come up with new ideas. Retrenchment in any one area could mean a problem for the manufacturers.
When it comes to restaurants, they rely heavily on staff that is well-trained and well-groomed. However, due to better opportunities or for want of growth, employees do leave organisations and that has to be factored in.
In labour-intensive home farming or local farming, this problem is more acute. If farm hands leave, it means a strain on the farming family and this could result in delayed or cancellation of orders.
5) Pests and disease: The industry has to be prepared for pests and disease damaging crops without any prior indication. Similarly, processed food, despite all care taken, can develop moulds and other pathogens that are harmful to humans. This would mean throwing away precious crops or processed products.
6) Supply chain issues: Since it’s a multi-pronged industry, with various branches and sub-branches, any hitch or glitch at one point can disturb the production line or processing line. This could mean additional costs or losses to those involved at the front end.
7) Logistics issues: Weather conditions, socio-political situations can impact the entire industry as trade embargoes could mean short supply or no supply. This again leads to losses. The industry has to be prepared for plan B, to make up for such disruptions.
8) Toxins: Food is a fragile product. Even slight changes in weather and climatic conditions can change the composition of food. Foods could develop toxins both at the production stage and at processing stage. This ups the costs as thorough research methods have to be adopted and the front end users have to be extra sure that the food that is being sold is toxin free. Also, once found with toxins, the food is usually no longer good to sell.
9) Storage facilities: Quite a bit of money is required to ensure that the food is stored carefully. The larger the carbon footprint, the more care has to be taken for storing foods. This means money.
10) Food fads: Humans want change. And as they say, change is constant. People constantly strive to satiate their taste buds with the best foods available to them. Food is part of one’s culture and identity and no one wants to compromise when it comes to food. Despite this, humans crave new things and more exotic things. While the industry sees it coming, how long the fad remains is totally in the hands of consumers. So changing with changing fads means more costs.
Why opt for services of an astro-strategist like Hirav Shah?
Financial forecasting is of utmost importance in any industry. So is the case with the food industry, which constantly battles with perishable and disease-prone substances. The entire food industry is full of niches that could go haywire due to change at any level throughout the supply chain.
It has inherent problems that need to be tackled with a lot of tact, grounding and good financial mindset. It is an industry where problems are part of the game. So, it requires a quick and alert mind to face the problems and think of solutions, literally standing on one’s toes. It’s also about juggling various methods and processes to stay at the top of the game and for long. Sustainability and longevity are crucial for all those wanting to enter the industry or are already part of the industry.
And money plays a crucial part when it comes to handling situations with ever-changing dynamics.
So, it is here that one needs sound advice and opinion. They need a guide and guidance for what tomorrow looks like. They need a road map as to how to progress and reinvent themselves in the long haul.
This is exactly what astro-strategist Hirav Shah will suggest for you. Yes, one can opt for a financial consultant. But what can a financial consultant do when your astro chart is directing at something else, for good or for worse.
Hirav Shah as his title suggests is an astro-strategist. He has the expertise and know-how of how industries function, has in-depth knowledge of astrology. Meeting him does not mean hours of astro talk. He is practical, precise and sure-shot in his ways. He mixes astrology as a tool to suggest when to put in your hard-earned money or when to divest and move on.
Hirav Shah’s sound advice is all about business acumen, corporate strategy and astrological implications.
“To stay on top, opt for the best astro-strategist” concludes Hirav Shah.