FOOD SAFETY, quality and financial risks are the biggest risks to the world’s food and drinks companies. Environmental risk, meanwhile, remains a low priority given that the benefits obtained from risk mitigation actions outweighing the costs.
That’s according to a new survey published by certification company DNV Business Assurance and GFK Eurisko.
The survey involved 500 food & beverage professionals from companies in Europe, North America, South America and Asia.
Food safety (63%) and quality (54%) are the areas of supply chain management that companies consider particularly vulnerable. Financial risks (38%) are deemed less threatening to date, together with legal and regulatory compliance (35%). Under a third (29%) of those surveyed see environmental challenges as a major concern. Last on the list are community relations (10%) and ethics (8%).
However, companies that have adopted chain-wide risk mitigation actions state that they have materially benefited from them, in terms of product quality enhancement (74%), competitive advantage (51%) and brand reputation (42%).
DNV Business Assurance CEO Luca Crisciotti said consumers will be “pivotal” in companies taking sustainability more seriously. “The surging attention for [quality, safety and environmental, social and ethical requirements] shows how companies are increasingly shifting towards an approach that integrates sustainability into corporate strategies.”