The owners and leaders of food value chain businesses must understand clearly which consumers they are targeting and what it is their target customers value. This puts them in a position to refine their product offering or (re)design the most efficient and effective value chain.
Food value chain businesses must continue to evolve and in some cases revolutionise how they go to market, innovate and operate in order to remain relevant to consumers and financially sustainable.
Those businesses that intend to maintain or develop brands that resonate with the consumer, must engage with, develop an understanding of and an appetite for social media marketing platforms.
The retail, wholesale and food service landscape is changing rapidly. Owners and leaders of food businesses must look to the future when deciding which categories they intend to compete, selecting the best chain partners and formulating sustainable marketing strategies.
Businesses need to introduce new technology in order to capture the raw data generated in every link of their value chain. When analysed effectively the data enables businesses to identify opportunities to improve the quality of their consumers experience and the efficiency of the chain.
Businesses will need to reinvest in production, processing and storage technology in order to reduce their consumption of electricity, improve labour efficiency and reduce waste.
Primary producers must continue to reinvent their primary production systems and techniques in order to reduce the per unit output requirement for water, improve soil health and reduce chemical inputs.
Businesses, particularly those located in remote, regional Australia will need to adopt creative ways to access the specialist expertise they require in order to become world class in their chosen enterprise. Not applying the required calibre of expertise throughout the value chain will simply not be an option.
Many food value chain businesses will need to reinvent their seasonal labour model in order to secure access to compliant, high quality, productive and reliable workers.
Growth initiatives, particularly those that involve external investment must be planned and implemented very carefully in order to capture the growth opportunity without putting the existing business and the wealth of the owners at risk.