For companies exploring food quality management software, the best way to make a strong business case for this type of solution is to calculate the hard dollar savings it could yield. There are many factors that can influence the precise ROI companies can expect, from the number of facilities operated to the type of food quality management processes currently in place. While there will be variations in savings from one company to the next, the areas in which companies tend to see the greatest savings are as follows:
Time & Labor
Many FSQA processes that are completed manually, from following up on supplier documents to monitoring the compliance of metrics such as temperature, are time- and labor-intensive daily activities that can be managed with food quality management software. Food quality management software can collect some results directly from testing equipment, which can then be analyzed by the system. It also stores all of your records and program documents in one centralized location and can even send notifications and alerts to your suppliers as needed, thereby significantly reducing the amount of time and effort spent on daily program activities.
Material Loss
An article published by Food Safety News explains how real-time analysis of materials prevents non-compliant ingredients from entering production. With immediate notifications, non-compliances are caught at the earliest possible stage to help increase material usage throughout your facility.
Printing Costs
If your company is currently using binders, clipboards, and filing cabinets to collect and store food management program and data, you can expect to see 100% savings in printing costs for these activities. Not only will you free up space in your facility, but you’ll also be able to drastically reduce the amount of paper, ink, and printer maintenance needed.
Risk Mitigation
A report in the science journal Foods estimates that recalls cost the US around $7 billion annually. Considering the impact that the digital age has had on the relationship between food recalls and brand image, the potential savings of a technologically advanced food quality management system could be exponential. With automatic notifications of out-of-spec results, these solutions support risk mitigation by helping to safeguard your company against potentially devastating recalls.
Reporting & Analysis
According to the Food Safety News article referenced above, some of the greatest potential ROI opportunities lie in modern day reporting and analysis capabilities. With all current and past safety and quality data in one centralized system, “you have the ability to do comprehensive reporting and analysis for all points in your supply chain,” the article states. You can then use this data to frame your company’s strategic decisions, which will ultimately deliver a tremendous payoff.
