In The Food Institute's recent webinar "Achieving a self-sustaining business model: Top 3 trends companies need to think about post-COVID-19," Greg Wank, CPA, CGMA, partner and leader of Anchin's food and beverage group, as well as David Eben founder and CEO of Carrington Farms, discussed how to have a more successful business while burning less capital and attaining self-sustainability. The following summarizes the salient points highlighted during the webinar.read more
In May 2016, FDA published the final rules for its new Nutrition Facts label for packaged foods. This is the first major overhaul of the labeling panel in over 20 years, and it poses a challenge for many companies trying to determine how they must proceed. Manufacturers will only have until July 26, 2018 to comply with the final requirements, while manufacturers with less than $10 million in annual food sales will have an additional year to make the changes.read more
For the past decade, food retailers have experienced declining customer counts and shrinking baskets. Retailers have hoped for food inflation to make up for those declines, but that is wishful thinking of old. The industry is littered with examples of retailers who have chosen to be laggards in regards to understanding change in consumer demand, technology and competition. Factors such as the "Amazon...read more
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