MANUFACTURING
Grassi and NJFPA Reveal Findings of NJ Food Manufacturers Survey
Compiled by John Joseph Parker Contributing Editor
Grassi , a leading provider of business advisory and accounting services , and the New Jersey Food Processors Association ( NJFPA ), a community of food and beverage companies and service providers that promotes industry growth throughout the Garden State , have released the results of a joint benchmarking survey of New Jersey ’ s food manufacturers .
The survey elicited candid feedback on industry trends , outlooks and challenges from professionals in every sector of the food and beverage industry . The findings were unveiled an authoritative benchmarking report at the NJFPA ’ s 2021 Annual Spring Conference .
Key takeaways from the survey point to the resiliency and agility of the industry over the past 12 months :
◾ Only one in six respondents reported a significant reduction in customer demand .
◾ Thirty-six percent of respondents saw revenues rise despite pandemic challenges .
◾ Thirty-three percent of respondents revamped production to become nimbler to changing demand .
◾ Only four percent downsized their workforce .
The biggest challenges reported by respondents were supply chain disruptions ; delayed or cancelled new product launches ; plant closures caused by COVID‐19 outbreaks ; and a growing shortage of skilled workers . Despite these challenges , the survey points to a positive overall outlook , with most respondents anticipating a recovery in the food manufacturing sector in the third quarter of 2021 or sooner .
The Rutgers Food Innovation Center and the New Jersey Economic Development Authority contributed to the development of the survey , which was fielded by an independent research firm .
Most respondents anticipate a recovery in the food manufacturing sector in the third quarter of 2021 or sooner .
One of the big challenges reported was a growing shortage of skilled workers .
Thirty-three percent of respondents revamped production to become nimbler to changing demand .
Two of the biggest challenges reported by respondents were supply chain disruptions , and delayed or cancelled new product launches .
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