The cereal manufacturer, owned by private equity firm Lion Capital, wants the move to help it improve procurement control, visibility and compliance, while making processes more efficient.

It is using the Wax Digital web3 system, which is linked in to Weetabix's existing finance system.

The move will see Weetabix staff able to procure goods directly for manufacturing and other services, and will be complete in November.

Anthony Bowdidge, head of procurement at Weetabix, said: "The web3 product is highly intuitive and its advanced supplier collaboration features will drive significant process improvements across our supply chain.