Technology Archives

The Procurement Process: Understanding the 10 Stages of Sourcing

With the foodservice industry continuing to evolve, mastering the intricacies of procurement has become more critical than ever. This comprehensive blog not only sheds light on the 10 key stages of the sourcing process but also illuminates the pivotal role that efficient procurement plays in streamlining operations, ensuring quality, and optimizing costs for foodservice professionals. What is Procurement? Procurement, in the context of foodservice, refers to the systematic process of sourcing, purchasing, and acquiring various goods and services essential for the smooth operation of a food-related business. It involves the strategic management of supply chains, focusing on acquiring high-quality products and services at the best possible prices, while also ensuring timely delivery and adherence to stringent quality standards. Importance of Procurement Within the intricate foodservice supply chain, characterized by its emphasis on precision and efficiency, the procurement process serves as the fundamental cornerstone for the smooth operation of the

Hospitality Procurement Fundamentals: Your First Step to Successful Sourcing

Procurement is the backbone that keeps the supply chain running smoothly. From restaurant operators to manufacturers and distributors, sourcing the right products efficiently and cost-effectively is a vital part of success. At Buyers Edge Platform, our experts are here to guide you through the fundamental principles of hospitality procurement that will set you on the path to success. What is hospitality procurement? Hospitality procurement refers to the process of acquiring goods and services required by businesses in the hospitality industry, including but not limited to hotels, restaurants, resorts, and other related establishments. The primary goal of hospitality procurement is to ensure that these businesses have access to high-quality products and services while optimizing costs and maintaining efficiency. The Foundation of Hospitality Procurement The foundation of hospitality procurement is built upon several key principles and practices that are crucial for the smooth functioning of the hospitality industry. These principles

Increase Buying Power: GPO vs. Buying Group

To reduce costs, gain a competitive edge, and optimize operations, foodservice operators often turn to either a Group Purchasing Organization (GPO) or a Buying Group. These entities share a common goal: helping businesses harness their collective buying power to secure cost savings and a range of other benefits when procuring goods and services. Let’s dive deeper into the specifics of each choice to help you understand which option aligns better with your procurement needs and objectives: What is a Group Purchasing Organization or GPO? A Group Purchasing Organization (GPO) is an entity that negotiates contracts with suppliers on behalf of its member businesses. These contracts typically cover a wide range of products and services, such as medical supplies, office equipment, or industrial materials. What is a Buying Group? A Buying Group, also known as a Purchasing Cooperative or a Cooperative Buying Group, is an organization formed by independent

Myth vs. Reality: The Benefits of Group Purchasing Organizations

Buyers Edge Platform industry experts are unveiling the truth behind some of the common misconceptions swirling around Group Purchasing Organizations (GPOs) in the foodservice industry. Using resources strategically is important for the success of foodservice businesses. One strategy that is often overlooked is partnering with a Group Purchasing Organization (GPO). Article Summary: What is a GPO? What does a GPO do? #1 Myth: GPOs are exclusive to big players #2 Myth: GPOs limit your supplier options #3 Myth: GPOs prioritize savings over quality #4 Myth: Joining a GPO means surrendering control #5 Myth: GPOs can’t help with other essentials #6 Myth: GPOs cost money #7 Myth: GPOs are a scam Why use a Group Purchasing Organization? Unlock Exclusive Benefits with Buyers Edge Platform But what is a Group Purchasing Organization (GPO)? A Group Purchasing Organization (GPO) is an entity that aggregates the purchasing power of multiple individuals, businesses,

What is Launchpad?

Staying ahead of the curve is essential for foodservice success. One of the most powerful tools at a foodservice operator’s disposal is technology-driven insights that offer a deeper understanding of the health of their operation. By leveraging advanced data analytics, real-time monitoring, and intelligent reporting, businesses can gain valuable visibility into every aspect of their foodservice operations. This proactive approach not only enables them to identify inefficiencies, streamline processes, and cut costs but also empowers them to deliver an unparalleled dining experience to their customers. In this rapidly evolving landscape, harnessing technology insights is not just an option; it is becoming a necessity to thrive and flourish in the competitive foodservice market. At Buyers Edge Platform, we’ve been leading the forefront of leveraging technology to help restaurants save time and money. We’ve taken historically dirty food service data and disrupted the industry by applying our AI tech tools to clean

Restaurant Realities: 4 Factors Working Against Restaurants

The restaurant industry currently finds itself in a gripping tug-of-war with a host of formidable challenges. From labor shortages and soaring costs, to supply chain disruptions and changing consumer preferences, operators are battling an onslaught of hurdles that demand not just their resilience but also an unwavering display of creativity and adaptability. It’s a high-stakes game, and only those who can skillfully maneuver through this labyrinth of obstacles will emerge victorious. Within the bustling world of restaurants lies a battlefield of challenges, each shaping the daily business model of operators in profound ways. While progress has been made towards recovery, the lingering tremors of the pandemic have left an indelible mark on the culinary landscape. But this isn’t a tale of despair; it’s a story of tenacity and evolution. As the restaurant industry charts its course towards rebuilding and redefinition, operators are undeterred in their pursuit of success. Armed with

3 Ways Using Insights Can Help Drive Profits

To maintain a competitive edge and achieve profitability in today’s dynamic foodservice industry, relying solely on culinary expertise and innovative menu offerings is no longer sufficient. It demands a deep understanding of consumer preferences, market trends, and operational efficiencies. This is where the power of foodservice insights comes into play. By harnessing the wealth of knowledge that insights provide, foodservice operators can unlock valuable insights that pave the way to sustainable growth, enhanced customer experiences, and increased profitability. What are insights? Insights refer to deep understandings or valuable observations gained through the analysis and interpretation of information or data. Insights provide meaningful and actionable knowledge that helps individuals or organizations make informed decisions, develop strategies, or gain a deeper understanding of a particular topic or situation. Insights are different from raw data or simple observations because they involve critical thinking, analysis, and context. They go beyond surface-level information and offer

3 Reasons Why You Should Utilize Switch and Save Opportunities

One of the benefits of working with the Buyers Edge Platform is that you have access to many switch and save opportunities and a catalog of savings on over 165K items from over 350 manufacturers. Whether you are a small independent restaurant or a multi-unit chain, restaurants of all sizes are able to easily take advantage of our cost savings opportunities to lower their costs and increase profits. Our “Switch and Save Opportunities” is just one way that our members can maximize their savings within the member portal. What are Switch and Save Opportunities? “Switch and Save Opportunities” is a feature that lives within the Buyers Edge member portal, Launchpad. When a Buyers Edge member makes a purchase from their food distributor, Buyers Edge collects those purchases and loads them into the customers portal. We’re able to determine the items a customer purchased, the pack size of that item, the

Mastering Foodservice Purchasing: A Comprehensive Guide for Success

Welcome to Mastering Foodservice Purchasing: A Comprehensive Guide for Success, where we unravel the art of mastering foodservice purchasing. Effective purchasing is the backbone of any successful foodservice operation, ensuring quality ingredients, controlling costs, and maintaining supplier relationships. Whether you’re a seasoned professional or just starting out, join us on this journey to optimize your purchasing process and drive the success of your business. Define your purchasing goals and objectives. This could include factors such as cost control, quality assurance, sustainability, and supplier relationships. As a result, clearly understanding what you want to achieve will guide your purchasing decisions. Buyers Edge Platform provides a centralized hub for managing suppliers. Operators can access a wide network of pre-vetted suppliers, compare pricing and terms, and easily onboard new suppliers. By using the platform’s supplier management tools, operators can efficiently handle supplier relationships and negotiations. The platform offers powerful tools to optimize

Fueling the Future: What is Foodservice Technology?

Foodservice technology refers to the application of technology and digital solutions in the foodservice industry to enhance operational efficiency, customer experience, and overall business performance. It encompasses various tools, software, and hardware systems that are designed to streamline operations, automate processes, and improve productivity in restaurants, cafes, catering services, and other food-related businesses. In recent years, the foodservice industry has witnessed a significant transformation driven by technological advancements. As the demand for faster, more convenient, and personalized dining experiences continues to grow, businesses are increasingly turning to foodservice technology solutions to meet these evolving expectations. By leveraging innovative tools and systems, restaurants and other food establishments can streamline their operations, optimize customer interactions, and gain a competitive edge in an ever-changing market. Let’s explore some of the key areas where foodservice technology is making a substantial impact. Point of Sale (POS) Systems: These systems are used for order processing, payment

Insights / Technology