The Founder of Prima Pavé, CountryBred & The Palatum shares insights on navigating the challenges faced by beverage brand owners in the current business landscape. With competition across the category and difficulties in raising capital, there are also external factors like geopolitical events that can impact businesses. For example, the war in Ukraine led to a shortage of raw materials in Europe, affecting the procurement of bottles for alcohol-free sparkling wines. To mitigate supply chain disruptions, storing harder-to-find materials and purchasing more volume can help maintain packaging and brand aesthetic, although this may require higher upfront costs.
To achieve triple growth and bypass capacity and manufacturing pitfalls, the founder offers key insights for manufacturing businesses. Suggestions include considering smaller, more frequent productions to prevent fluctuations in cash flow, ensuring packaging components are sourced from reputable suppliers to avoid recalls, and adding extra time to shipping timelines to account for delays at ports. Alternative working capital sources, such as leveraging e-commerce direct-to-consumer sales, and learning to forecast well are also essential for managing supply chain disruptions effectively.
Forecasting tools can help predict demand and prevent stock shortages, with generative artificial intelligence apps offering sophisticated forecasting capabilities. However, these tools come with additional costs and may require a learning curve. Proactiveness is key in managing supply chain disruptions, as retail partners may not always provide sales data proactively. By implementing strategies to manage potential delays, businesses can position themselves to thrive in the present and future despite challenges in the industry.
The Forbes Business Council is highlighted as a growth and networking organization for business owners and leaders, providing opportunities for networking and advancement. The founder’s insights offer valuable advice for navigating the complexities of the beverage industry, emphasizing the need for strategic planning, proactive measures, and a focus on maintaining quality and efficiency in manufacturing processes. With careful consideration of supply chain disruptions and the implementation of effective strategies, businesses can adapt to changing market conditions and succeed in the competitive landscape.
