Catering e-Procurement Solution

The catering industry is returning to growth mode after several years of defensive cost-cutting.

The industry is investing more money in technology to develop customers. Big data analytics is looking at new market expansion. However, ongoing commodity price supercycles, disruptive technologies that may erode brand loyalty, and retailers’ continued need to speed up and optimize supply chains will continue to weigh on Food & Beverage manufacturers profit margins.

The Advanced Catering Sourcing, Procurement and Supply Management team will focus on:

• Protecting profits with commodity price risk management, intelligent sourcing and process efficiencies.
• Accelerating existing value/supply chains and developing new global supply chains to support expansion into emerging markets.
• Empowering teams with 360-degree spend visibility, intelligent supplier discovery and sourcing, robust contracting and supplier relationship management.

The catering industry is facing a number of challenges, but also offers many opportunities to create a competitive advantage for procurement, sourcing and supply management. Key challenges include:

• Competing priorities as executives are shifting their focus to growth, global expansion and investing in more consumer-facing technologies (compared with operation).
• Developing fast, agile, and efficient supply chains that better respond to insights from big data market analysis.
• Ensuring absolute regulatory compliance, supply chain transparency and traceability.

8Manage e-Procurement enables Food & Beverage companies to control and strictly manage an expanding and increasingly complex global supply chain to gain a competitive advantage, and to capture, orchestrate and analyze detailed intelligence to make better business decisions faster.

Using 8Manage e-Procurement’s Spend Analysis capability and embedded commodity pricing extensive intelligence, catering companies can support risk management at each granular or volume-aggregated level, protect profit margins, and develop category sourcing, procurement and supplier negotiation strategies.

Employing 8Manage e-Procurement’s Strategic Sourcing function, catering businesses can collaboratively, rigorously and efficiently define requirements, discover, review and bid as well as evaluate and compare global suppliers. The software applies to almost all projects or services and several offline projects, including logistics, packaging materials and services, complex custom production and packaging equipment, design, engineering and contract manufacturing services.

Adopting 8Manage e-Procurement’s Contract Management capability, food & beverage companies can quickly construct, negotiate and execute creative contracts, including all necessary terms related to safety regulations, policy compliance and risk mitigation. They can efficiently manage dynamic pricing and other terms—market price indexing, renegotiation terms, etc.—throughout the full contract lifecycle.

With 8Manage e-Procurement’s Supplier Management function, catering enterprises can quickly provide certification and training to suppliers, manage compliance with a large number of regulations, inspection and control of requirements at multiple supply chain layers, and continuously track, evaluate and improve supplier performance, forming a fast, flexible, responsive and globally competitive supply chain.

Using 8Manage e-Procurement’s Management Accounting function, catering corporations can align procurement with minimum and maximum corporate performance goals.

Utilizing 8Manage e-Procurement’s Procure-to-pay function, catering companies can improve operational efficiency, and ensure procurement compliance and clear global chain of custody documents.