Three of the top five global food manufacturing companies, with a combined revenue of $180.7 billion, rely on solutions from JAGGAER, a spend management company, according to research from the Food Engineering annual report on company rankings.
The report also indicates six of the top 10, and 10 of the top 15 global food companies count on JAGGAER.
Worldwide revenue from the food and beverage industry has an annual expected growth rate of 11.4%, projected to reach close to $139 billion by 2022. JAGGAER customers average 99% of spend under management, JAGGAER said.
“With two decades of industry experience, JAGGAER understands the unique challenges facing food manufacturers, (and) has simplified the eProcurement and spend management process to help maximize the efficiency of their supply chains, whether it’s procuring direct materials and ingredients, packaging (and) sourcing indirect materials, transportation and distribution services or controlling spend,” the company maintained.
JAGGAER food customers include Ferrero, Godiva, Gruppo Cremonini, illycaffé, Lavazza, Lyons-Magnus, Mondelēz International and Pernod Ricard España.
JAGGAER said it developed its solutions with input from food manufacturing customers and industry analysts to address the most vexing issues within the supply chain, including complete control and management of critical supplier networks, enhanced communication between all parties in the supply chain and ability to analyze spend to reduce rising costs.
Additionally, JAGGAER produces a “powerful” sourcing tool, the Advanced Sourcing Optimizer, which it says delivers flexible, powerful RFX configuration, bid collection, event management and bid analysis and optimization.
REV2019, JAGGAER’s global procurement platform, is set for Oct. 1-3 at the Sheraton San Diego Hotel and Marina in San Diego CA. The company says attending the forum helps businesses improve performance in procurement and supply management, resulting in greater agility, reduced risk, efficiencies, savings and competitive advantage.
The theme for REV2019 is “Educate, innovate, accelerate,” which is intended to relay the company’s mission of enabling customers to achieve business goals through effective application of tools designed to simplify procurement.