How is AI transforming the drinks industry?

AI is revolutionising the drinks industry by improving supply chain efficiency, enhancing product development, and enabling data-driven marketing strategies. It uses predictive analytics to optimise production processes, reduce waste, and forecast consumer demand. AI also helps in personalising product offerings based on consumer preferences and automating repetitive tasks, leading to increased productivity and operational efficiency.

What are common AI applications in the drinks sector?

Common applications include demand forecasting, inventory management, quality control, and product innovation. AI is used to analyse large datasets to identify trends, optimise production schedules, and develop new products that align with changing consumer tastes. In marketing, AI tools help craft personalised campaigns and predict consumer behaviour.

How can AI support sustainability in the drinks industry?

AI supports sustainability by optimising resource usage, reducing waste, and enhancing supply chain transparency. Through data analysis, AI can help companies monitor energy consumption, improve packaging design, and implement waste-reduction strategies. AI’s ability to streamline operations also minimises the environmental impact of production and logistics.

What are the challenges of AI adoption in the drinks industry?

Challenges include high implementation costs, the need for skilled personnel, and data privacy concerns. Integrating AI with existing systems can be complex, and maintaining data accuracy is crucial for effective AI outputs. Companies must also address ethical considerations related to automated decision-making.

What is the future of AI in the drinks industry?

The future of AI in the drinks industry involves more advanced applications like digital tasting, real-time consumer feedback analysis, and automated quality control. AI will continue to evolve, driving innovations in product development, personalised consumer experiences, and operational efficiency. As technology advances, AI will play a key role in helping brands remain competitive in an increasingly data-driven market.

Just Drinks

Daily Newsletter

07 October 2024

Daily Newsletter

Top Shelf International names new CFO

Late last month, the Australian distiller requested the trading in its shares was halted amid talks over funding.

Top Shelf International, the Australia-based distiller, has hired a new CFO.

The vodka and whisky maker has appointed Dimitrios Argyriou as its new finance chief.

Argyriou started in the role today (7 October), succeeding Ben Kennare, who had spent more than three years in the position.

On 27 September, Top Shelf International requested that the trading in its shares was halted amid talks over funding.

The Act of Treason agave maker said it was in talks with its lender and largest creditors and would not be able to release financial statements due on 30 September. The trading in the company’s shares remains suspended and the accounts have not yet been filed.

When Top Shelf made the request, the company said it had asked for a suspension in order to “review its operating strategy” and “finalise” a funding push. The group said the continued trading in its shares would “likely” be “materially prejudicial” to the completion of its funding plans.

“The company continues to progress discussions with a number of parties regarding the provision of funding and potential transactions to address its short- to medium-term operating needs and the repayment of outstanding creditors,” Top Shelf International said in an exchange filing at the time.

In August, the company posted its preliminary unaudited results for the year ended 30 June, in which it booked revenue of A$26.6m ($18.1m), down 3.3% year on year. Gross profit was A$7.1m, up 17.9%.

Top Shelf International reported a loss of at an EBITDA level of A$13.9m, albeit an improvement on the previous year’s loss of A$27.5m. The group said its net debt position had improved to A$16.7m as of 30 June, having been reduced by A$10m over the financial year.

In today’s statement, the Grainshaker vodka owner described Argyriou as “an experienced CFO, with a background in consumer goods and experience in both private and ASX-listed environments”.

CEO Trent Fraser added: “On behalf of all at Top Shelf, I would like to acknowledge Ben for his commitment and dedication to the company and I would like to personally thank him for the support he has provided me since I joined Top Shelf several years ago.”

India Beer and Cider Market Overview

Per GlobalData, the beer and cider market size in India was valued at LCU1,112.00 billion in 2023 and is expected to grow at a CAGR of >14% during 2024-2029. The demand for low-calorie products is steadily increasing in India, reflecting a broader trend towards healthier lifestyle choices. A stable economy has contributed to increased consumer confidence, which has positively impacted retail sales of beer and cider. In 2023, the Indian beer & cider sector’s volume sales surged by 10.3% annually.