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Innovation by Food Companies Key to Growth and Profitability

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  • Stewart, Hayden
  • Martinez, Steve

Abstract

Consumers today are demanding an increasingly wide variety of foods, retail formats, and restaurant concepts. Food manufacturers, distributors, retailers, and foodservice operators face additional demands as they strive to profitably supply the large variety of goods and services on time and in the correct quantity. The task facing the food industry is neither easy nor cost-free. Some food firms are responding to the challenge by making innovative operational changes, reshaping how they work together with other members of the food supply chain and how they organize themselves as individual companies. Most notably, many food retailers are working more closely with distributors and manufacturers to best serve the consumer. Also, many individual firms at each stage of the supply chain are adjusting the size and scope of their operations.

Suggested Citation

  • Stewart, Hayden & Martinez, Steve, 2002. "Innovation by Food Companies Key to Growth and Profitability," Food Review/ National Food Review, United States Department of Agriculture, Economic Research Service, vol. 25(01).
    • Handle: RePEc:ags:uersfr:266245
    DOI: 10.22004/ag.econ.266245
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    References listed on IDEAS

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    1. Ollinger, Michael & MacDonald, James M. & Madison, Milton E., 2000. "Structural Change In U.S. Chicken And Turkey Slaughter," Agricultural Economic Reports 34049, United States Department of Agriculture, Economic Research Service.
    2. Friddle, Charlotte G. & Mangaraj, Sandeep & Kinsey, Jean D., 2001. "The Food Service Industry: Trends And Changing Structure In The New Millennium," Working Papers 14340, University of Minnesota, The Food Industry Center.
    3. Kinsey, Jean D. & Stevens, Stanley C, 1999. "Minnesota Agricultural Economist 698," Minnesota Applied Economist\Minnesota Agricultural Economist 13187, University of Minnesota, Department of Applied Economics.
    4. Jean Kinsey, 2000. "A Faster, Leaner, Supply Chain: New Uses of Information Technology," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(5), pages 1123-1129.
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    Cited by:

    1. López, Cristina Segovia & Pérez, Manuel Sánchez, 2014. "Effects of Learning from Distributors on Manufacturers’ Exploitation and Exploration Innovation Strategies in Food and Beverages Industry," 2014 International European Forum, February 17-21, 2014, Innsbruck-Igls, Austria 199371, International European Forum on System Dynamics and Innovation in Food Networks.
    2. Robert D. Weaver, 2008. "Collaborative pull innovation: origins and adoption in the new economy," Agribusiness, John Wiley & Sons, Ltd., vol. 24(3), pages 388-402.
    3. Martinez, Stephen W., 2007. "The U.S. Food Marketing System: Recent Developments, 1997-2006," Economic Research Report 55962, United States Department of Agriculture, Economic Research Service.

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