This article is brought to you by our friends at FoodByUs
If you're a chef or a restaurant owner, you understand the challenges and time-consuming nature of procurement in the hospitality industry. Sourcing food and supplies for your venue can be a complex and costly task.
However, recent advances in wholesale ordering system technology is providing solutions that can simplify and streamline your ordering process while saving you time and money.
In this article, we explore five ways a wholesale ordering system could benefit your venue.
1. Streamlined Procurement Process
Traditionally, managing procurement involved juggling multiple spreadsheets, making numerous phone calls, and sending emails to various suppliers. This fragmented approach is time-consuming but also prone to errors. Having an ordering system eliminates these challenges by providing a centralised platform where you can access multiple suppliers in one place.
With the introduction of new technologies and processes, the world of wholesale procurement is rapidly changing, according to FoodByUs Marketing Executive, Emily.
“With a few clicks, you can search and compare hundreds of thousands of products, making the ordering process quick and efficient. You don’t need to deal with all the headaches of managing different requirements for your kitchen, bar, and restaurant. Tech can really simplify your procurement process, saving you precious time and effort.”
2. Cost Savings through Group Buying Power
Wholesale ordering systems offer a range of tools to help you keep on top of your cash flow. One of the most significant advantages they could offer is the ability to leverage group buying power, allowing small to medium-sized businesses access to wholesale prices that were once only available to larger establishments. By aggregating the purchasing power of multiple venues, you could access better prices with suppliers.
3. Enhanced Efficiency and Time Savings
Stephanie Bull, ex-General Manager at Mexicano, a leading restaurant in Sydney, experienced a 67% reduction in her procurement time after integrating with the wholesale ordering system, FoodByUs, into her operations.
“Nowadays, you can easily integrate all your suppliers into one marketplace, which will significantly reduce the time spent on procurement and allow you to focus on what truly matters: creating exceptional culinary experiences for your customers,” Emily notes.
4. Integrations with Accounting and Finance Tools
Some wholesale ordering systems also offer integrations and reporting insights to enhance your venue's operations. For instance, FoodByUs integrates with popular accounting software like Xero and MYOB, simplifying your finance processes and saving you hours on manual invoicing. Integrations ensure accurate financial reporting and streamline your back-office operations.
Additionally, having detailed reporting tools provides valuable insights into your expenses and cash flow, enabling you to make informed decisions about your procurement strategy.
“Having access to these integrations and reporting capabilities will help you see which products you’re spending the most on and where you can save on food costs. This is essential in keeping your business profitable, especially with current and foreseeable interest rate rises.”
5. Help Mitigate Cash Flow Strain
Inflation is making it exceedingly difficult for restaurants to pay their suppliers on time, according to Emily, who says that FoodByUs has a remedy for this issue by offering seamless payment terms.
“This is a trade finance solution that guarantees instant payments for suppliers while offering buyers flexible payment terms of up to 30 days.”
Relieving this financial burden on venues provides them greater flexibility to manage cash flow effectively, while smooth and timely payments means fostering stronger relationships with suppliers.
In conclusion, a wholesale ordering system can bring significant benefits to your venue such as streamlined procurement, cost savings, enhanced efficiency, integrations, and seamless payment terms.
As the hospitality industry becomes increasingly competitive, embracing technology and innovative solutions will help you stay ahead.
If you are looking to learn more about the benefits of wholesale buying, check out this article for a full in-depth guide on wholesale buying.
Disclaimer: This guide is general in nature and does not take into account your individual circumstances. Before acting on any information, you should consider whether this is right for your business.