UK firms across food supply chain set out Brexit manifesto
Leaders of over 100 organisations from across the UK’s food supply chain have put their names to a manifesto setting out the key principles that can help ensure Brexit is a success for the supply of food in the UK.
The UK Food Supply Chain Manifesto has been drawn up by organisations representing farmers producing the raw ingredients and their suppliers, right through to manufacturers and retailers. It sets out the need for positive outcomes on trade, labour, regulation and domestic agricultural policy.
With little more than 10 months to go before Brexit, the manifesto emphasises the importance of ensuring our departure from the EU does not undermine the food production and supply sectors in the UK.
The manifesto has been sent to the Prime Minister by NFU President Minette Batters on behalf of the signatories, as well as other key cabinet ministers.
Mrs Batters said: “Today we are presenting a united voice as a food and farming sector worth at least £112bn to the UK economy and employing around 4 million people; a food and farming sector that meets 61% of the nation's food needs with high-welfare, traceable and affordable food; a food and farming sector that cares for three-quarters of the iconic countryside, that, in turn, delivers over £21bn in tourism back to our economy.
“In the manifesto we warn, as a collective, that a Brexit that fails to champion UK food producers, and the businesses that rely on them, will be bad for the country’s landscape, the economy and critically our society. Conversely, if we get this right, we can all contribute to making Brexit a success for producers, food businesses and the British public, improving productivity, creating jobs and establishing a more sustainable food supply system.
“When it comes to the nation's ability to produce food, we believe it is critical that the different elements of Brexit are carefully considered by all Government departments - including the Prime Minister who has herself spoken about the importance of supporting our sector through Brexit in recent days.
“As we enter this critical period in the Brexit negotiations, the signatories to this manifesto will be looking to Government to ensure its objectives are aligned with ours to ensure British food production - something of which every person in this country enjoys the benefits - gets the best possible deal post-Brexit.”
5 Minutes With: Jim Bureau, CEO Jaggaer
What is data analytics, and why is it important for organisations to utilise?
Data analytics is the process of collecting, cleansing, transforming and analysing an organisation’s information to identify trends and extract meaningful insights to solve problems.
The main benefit for procurement teams that adopt analytics is that they’re equipped to make faster, more proactive and effective decisions. Spend analysis and other advanced statistical analyses eliminate the guesswork and reactivity common with spreadsheets and other manual approaches and drive greater efficiency and value.
As procurement continues to play a central role in organisational success, adopting analytics is critical for improving operations, meeting and achieving key performance indicators, reducing staff burnout, gaining valuable market intelligence and protecting the bottom line.
How can organisations use procurement analytics to benefit their operations?
Teams can leverage data analytics to tangibly improve performance across all procurement activities - identifying new savings opportunities, getting a consolidated view of spend, understanding the right time for contract re-negotiations, and which suppliers to tap when prioritising and segmenting suppliers, assessing and addressing supply chain risk and more.
Procurement can ultimately create a more comprehensive sourcing process that invites more suppliers to the table and gets even more granular about cost drivers and other criteria.
"The main benefit for procurement teams that adopt analytics is that they’re equipped to make faster, more proactive and effective decisions"
Procurement analytics can provide critical insight for spend management, category management, supplier contracts and negotiations, strategic sourcing, spend forecasting and more. Unilever, for example, used actionable insight from spend analysis to optimise spending, sourcing, and contract negotiations for an especially unpredictable industry such as transport and logistics.
Whether a team needs to figure out ways to retain cash, further diversify its supply base, or deliver value on sustainability, innovation or diversity initiatives, analytics can help procurement deliver on organisational needs.
How is data analytics used in supply chain and procurement?
Data analytics encompasses descriptive, diagnostic, predictive and prescriptive data.
Descriptive shows what’s happened in the past, while diagnostic analytics surface answers to ‘why’ those previous events happened.
This clear view into procurement operations and trends lays the groundwork for predictive analytics, which forecasts future events, and prescriptive analytics, which recommends the best actions for teams to take based on those predictions.
Teams can leverage all four types of analytics to gain visibility across the supply chain and identify optimisation and value generating opportunities.
Take on-time delivery (OTD) as an example. Predictive analytics are identifying the probability of whether an order will be delivered on time even before its placed, based on previous events. Combined with recommendation engines that suggest improvement actions, the analytics enable teams to proactively mitigate risk of late deliveries, such as through spreading an order over a second or third source of supply.
Advanced analytics is a research and development focus for JAGGAER, and we expect procurement’s ability to leverage AI to become even stronger and more impactful.