How The Food And Drink Sector Could Increase Profitability By 43% !
The Food And Drink Sector Can Improve Profitability By Cutting The Cost Of Fraud
Managing cost is an important discipline for any company but especially so in the food and drink sector as demand uctuates and prices rise and fall. Operating an ef cient and streamlined business and avoiding unnecessary cost is essential.
“Fraud is the last great unmanaged business cost, and reducing it offers forward-thinking businesses the opportunity to improve competitiveness and increase profitability,” Crowe Clark Whitehill Head of Forensics and Counter-Fraud Jim Gee said.
A research report […] titled ‘Minimising Fraud and Maximising Value in the UK Food and Drink Sector 2017’ calculates the cost of fraud affecting the food and beverage sector in the UK.
The report shows that the sector could increase profitability by 43%, unlocking an additional £4.8 billion. The cost of fraud can be reduced by up to 40% within 12 months. Some of the FTSE-listed food and drink businesses could double their profits by reducing their fraud losses.
Source : foodprocessing.com.au
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