Key Business Outlooks For 2024 (10/10): Joe Pocevicius, Reading Bakery Systems
The year 2023 has brought more international turmoil, supply chain disruption and historic inflation all over the globe, putting a lot of pressure on the baking industry. Concerns about the availability of raw materials, the cost of energy, transport capacity, regulations, labor shortage and purchasing power had companies and professionals worried and looking for solutions.
That is what we see in these interviews with top managers from the most important industry players: the industry fought back and invested in research and development to provide sustainable solutions that address these challenges.
For 2024, representatives of some of the most important equipment and ingredients manufacturing companies talk in unison about sustainability, automation, energy-saving technology, traceability and working for the customers, to make sure their access to good bakery products is unhindered by the setbacks of the world. None of the viewpoints shared with us is lacking in hope, an essential attribute for a long-term winning business.
Conventional food production systems have enjoyed uninterrupted growth over the last few decades. While this trend is expected to continue in the short term, resource constraints may dampen expansion in the long term. Furthermore, the sector is increasingly ripe for disruption.
It is up to the bakers, transporters and retailers to find the right way to stay profitable and capitalize on the market opportunities that await them in 2024.
Joe Pocevicius, Director, EMEA and APAC, Reading Bakery Systems
Considering the market volatility, the bottleneck of resources, the energy crisis, the increasing prices and workforce scarcity, what does this past year look like for your company when you draw the line?
This past year, RBS focused on innovation, specifically in sustainability and automation. This positioned us well to effectively navigate the challenging market conditions. Customer demand for and accelerated adoption of energy efficient, flexible, and labor-saving systems.
What are your expectations for next year, keeping in mind the legacy of 2023, but also the current challenges?
We are cautiously optimistic for 2024. While some important external factors have stabilized, like materials pricing and supply chain consistency, there are several to keep an eye on, such as consumer inflation, rising interest rates or military conflicts. Internally, we’ll continuous to focus on efficiency through lean manufacturing and other continuous improvement initiatives.
How do you estimate the market will evolve and what is your priority list for 2024?
Customers will continue seeking more automation and sustainable solutions. This isn’t just energy efficiency, but easy maintenance and operation, and system flexibility to make many products as well as automation for operational improvements and labor savings.
What do you consider to be the most valuable asset you have in 2024 as a company?
At RBS, our people are our most valuable asset. None of what we do would be possible without such a great team. We focus on empowering our people to best serve our customers which preserves our culture and drives sustainable company growth.
As part of your growth strategy, how do you prioritize your investments versus your R&D efforts?
Our growth and success will come from prioritizing product innovation, sustainable baking systems, and our commitment to customer partnership. We have recently expanded our R&D team to help push these initiatives forward.
What was unexpected in 2023 and how did it impact your business?
Read the rest of the story in the January / February edition of European Baker & Biscuit.