By Suzy Strutner, managing editor at Grow Wire
- In the food and beverage industry, measuring metrics such as IT spend and inventory turnover provide a major window into your company's overall health.
- In any industry, one of the best ways to improve your business is to compare your performance to that of your peers.
- The chart below shows benchmarks for KPIs across the food and beverage industry so you can evaluate your company's financial prowess and take action if needed.
Whether you're a wholesaler or a manufacturer, the food and beverage industry is highly competitive(opens in new tab). In a marketplace increasingly influenced(opens in new tab) by both technology and consumers' desire for experiential products, it takes fastidious measurement of your business's financial performance to stay on top.
The team behind Grow Wire routinely measures the operational health of food and beverage companies worldwide with help from Finlistics(opens in new tab), a sales insights company. Their most recent research can help you analyze exactly how your business competes with others from an operational standpoint.
Take a look at your financials, then use the chart below to determine if you’re performing at a “Marginal,” “Competitive,” “Best In Class” or “Transformative” level.
If you want to improve your standing, then you may want to make some changes. Of course, reading stories on Grow Wire can help too.
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