Food courts are being replaced with food halls, there are lots more farmer’s markets, weekend popup markets, food fairs, food & wine festivals, food trucks and mobile catering.
How did it come to this? I guess we got wise. After all we are living longer so we are looking at what food we are putting in our mouths. Nowadays people are more adventurous about food and fusion flavours – it’s a great way of taking something that we love and making it healthy or tasty. We have also had to take into account the amount of people who suffer from food allergies, so that too has affected our choice of food. Fingerfood Catering Brisbane Food halls now offer much fresher product, speciality foods and more memorable eating experiences. As consumers we have become much more savvy – with a large number of celebrity chef restaurants opening up and cooking shows that now grace our presence, and we are demanding better quality for our money. Mobile catering is also a great new way to sample great food in yourf home or office. It’s a fairly new concept whereby you supply the kitchen and your caterer prepares the food onsite for your cocktail, party, wedding or corporate event. Brisbane Catering Finger Food This is a great alternative to spending all day in the kitchen for that special occasion and the food tastes so good, the timing is perfect for when your guests arrive, you don’t have to stress, and you get to choose from a number of set menus that suit your price point and food tastes. Another great thing is that your caterer (the good ones) will leave your kitchen cleaner than when they arrived. Standing Room Only is a Brisbane Catering Company that provides gourmet, finger food and mobile catering for cocktail, corporate or wedding events. Contact us now for your next party or cocktail event.
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Businesses frequently rely on their suppliers for information on product prices for price benchmarking. So it’s hardly surprising that it’s difficult to compare the performance of their buying strategy to that of their competitors. As a result, many procurement leaders believe they are getting the best prices from their current suppliers. Procurement Transformation Roadmap
So howdoprocurement teams gain priceclarity and idenitfy procurement savings?Being able to track what you are paying, for all product ingredients, and compare this to current market prices is essential to ensure you remain competitive. But it’s often difficult to gauge the real cost of raw materials. This is why the ability for procurement to carry out price benchmarking using procurement benchmarking tools that provide independent market prices that reflect current costs is an essential element of any cost analysis process. The process of building price benchmarking dashboards requires the actual prices paid to suppliers for products and raw materials to be compared to those paid to other suppliers. Making these like-for-like comparisons enables buyers and analysts to make more informed, data-driven purchasing decisions. Understanding how your suppliers’ prices compare to those of other suppliers and the current market prices acts as a proxy for understanding your competitors’ costs - helping businesses to develop strategies to remain competitive. This process can be time-consuming for procurement teams and requires access to current data from a range of sources that is timely and accurate. The ability to access data varies, along with the quality, accuracy and overall ease of use. The DIY approach to acquiring and processing data for analysis can be a significant time investment for procurement teams often resulting in a reluctance to undertake the analysis. Some of the issues encountered, to name but a few, include: Difficulty contacting different suppliers and other sources for data to support price comparisons Organising and pre-processing data into a consistent format ready for benchmarking Assessing the accuracy, reliability and overall quality of the data Obtaining necessary permissions or licences to obtain, store and use any data acquired Notwithstanding the missed opportunity cost using valuable analyst resources to undertake data collection and processing. With limited resources and an increasing remit, it’s easy to understand why many companies choose to focus on core business activity and outsource labour-intensive tasks. A common factor of successful companies is their focus on controlling costs, driving efficiencies and mitigating any competitive risk. One way to achieving all three is price benchmarking, whereby procurement teams can avoid inadvertently paying too much for any product, while efficiently managing resources and helping to identify any emerging comparative threats from lower-cost suppliers For those in the food and beverage sector understating how the cost of ingredients contribute to the overall product, costs are essential. Often small and seemingly insignificant ingredients can play a critical role in driving up product costs. Removing or substituting alternative ingredients with a lower cost can make all the difference to the bottom line while having no discernible impact on product quality. For those producing meat-based products, it can often be the overlooked items such as seasonings and coating that can slip under the radar when analysing costs. At the same time, those in the volume food-service sector can make a significant saving by assessing portion size or eliminating unnecessary garnishes and condiments. One way of assessing and controlling these factors is through a spend analysis platform which provides access to a combination of tools and data that supports supplier price benchmarking for comparing actual supplier prices to current market prices. Also, the ability to build individual product cost models using integrated tools enables the overall product cost to be calculated and tracked against these current market prices. Purchasing Planning Pdf Mintec Analytics is one such platform that brings together both analytical tools and comprehensive price data from over 15,000 different commodities and food ingredients. This consolidated approach to spend analysis ensures that procurement teams can benchmark their suppliers to ensure that their buyers can negotiate the best price possible. SPONGY FOAM
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