When successfully growing businesses, the proper operational and commercial ingredients must be part of the recipe. From experience, we know that 'more detail means less risk'.
Mindful Chef embraced new trends in #food consumption and supply chain innovation that allowed it to thrive while providing many households with healthy cooking respite during the lockdown.
According to Royal Mail’s recent UK #SubscriptionBoxMarketreport, the UK subscription box market will be worth £1.8 billion by 2025. Since Royal Mail's last report on the industry based on 2017 data, the subscription box market has seen its value more than double in size. Its popularity soared during the Covid-19 pandemic amid a more general acceleration in online retail growth.
Consumers spent almost £1.4 billion on subscription box purchases in 2020, and delivery providers made almost 88 million subscription box deliveries to UK customers.
At The Detail Group Limited, we love seeing companies we've provided with commercial and operational risk assessments thrive. As Mindful Chef comes up to almost a year of ownership by Nestlé the founding team with Giles Humphries continue to drive growth, we looked back at the due diligence we completed at the start of Mindful Chef's journey.
Our work always focuses on the specific needs of our clients; we seek to unearth value through insight. In this case, our assessment and report outlined the state Mindful Chef's operations and supply chain. This work enabled the identification of improvements that would drive efficiency. We also reviewed growth plans, highlighting risk areas that could impede delivery and provided action-oriented next steps.
We identified a number of key risks which required actioning to meet #growth projections through individual interviews, in-depth analysis of operational KPIs, contractual reviews, and detailed supply chain investigation. We provided recommendations for strengthening the supply chain and improving delivery measurement against KPIs.
"It was a real pleasure working with Mindful Chef and PIPER PRIVATE EQUITY II LIMITED PARTNERSHIP on this project. Their values are very much in alignment with each other and also ours. Seeing Mindful Chef implement our recommendations and thrive has been very satisfying; between March and May of 2020 Mindful Chef, reported a 452 percent increase in customers, which is outstanding", said The Detail Group's Andy Birley.
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