Efficient cost management necessary in response to the war in Ukraine

The food industry has not yet digested the corona pandemic and already the next challenges are upon them. A few weeks after the Russian invasion of Ukraine, shortages of raw materials needed for production are looming and energy prices have risen to unprecedented heights.

Production processes under pressure

Imports and exports to and from Russia and Ukraine have virtually ground to a halt. Various governments are taking measures to secure the domestic food supply. In addition, high energy prices remain a major concern. This may even put pressure on the processes that require the most energy.

World market prices for many products and their alternatives are skyrocketing. This translates into an international run on raw materials and leads to cost price increases. It is only a matter of time before these price increases are also passed on to consumers.

Cost management as a solution

In this context, companies had better put efficient cost management high on their agenda. Listing all processes and activities, including all energy consumption of buildings, production processes and transport, has become an absolute must. Just like the real-time visualisation of all data by means of business intelligence, and linking it to targeted financial, commercial and operational actions.

IT-trace as a tool for cost management

The 'Cost Calculation Module' of IC-trace enables automatic calculations based on all your business processes. Monitoring efficiency, margins and costs thus does not have to be a challenge. You gather all information within one solution and take control of the costs. This way, you determine the margins yourself.

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