Grocers, suppliers to share best practices
July 26, 2011
by Dan Malovany
Profit margins are continuing to shrink because of increasing energy demand at their properties and rising energy costs across the country, according to the Food Marketing Institute (FMI). In the current environment, strategic energy performance gives bakers, snack producers and food retailers an edge that supports competitiveness and superior financial performance. By working together and sharing best practices, the food industry can learn how to operate more efficiently, profitably and sustainably. That’s why the FMI and the Grocery Manufacturers Association (GMA) created the Sustainability Summit, which runs Sept. 12-14 in Scottsdale, AZ.
The summit is designed to give companies the tools, connections and proactive solutions they need to accelerate their sustainability agenda. Beyond thinking green, the networking and educational event will help baking and snack companies step to the forefront on critical sustainability issues facing the industry, including sourcing, waste, agriculture and social responsibility
The summit brings together retailers, manufacturers, government and advocacy groups to learn together, network and seek common solutions. This event is designed to move each division in a business forward on sustainability — from category management, packaging and supply chain to manufacturing, merchandising and marketing.
According to the FMI, even slight improvements in energy efficiency can have quantifiable impact on the profitability of a food retailer. A 10% improvement in energy efficiency has the equivalent financial value of a 15% improvement in profit margins for the average supermarket company. For these reasons, FMI partnered with GMA on the Sustainability Summit. It’s also pursuing several sustainability programs, partnering with the US Environmental Protection Agency's Energy Star program to bring members — many of whom are the baking and snack industry’s biggest customers — a profit-enhancing energy performance program. Find out more about this upcoming summit here
. For companies looking to lower costs in the long run, this is an event that should not be missed. Read more about Sustainability