At present, the food service landscape is strongly characterized by the increasing competition, rising costs, and rapid changes in the consumer needs. Also, with the increasing commodity prices, organizations in the food service space are relying on supply chain risk management studies to effectively manage the food inventory. In the food service sector, devising robust supply chain risk management helps the client identify the internal and external environments and robustly monitor risks. Through a robust supply chain risk management, leading businesses in the food service space can reduce long lead times, supply disruptions, and regulations. Also, businesses can gain better visibility into their supply chain processes and increase their performance.
SpendEdge’s supply chain risk management study helps leading procurement organizations in the food service space to efficiently collect, analyze, and manage supplier information. Also, businesses can gauge information on the prevailing technologies and devise plans to enhance the current supply chain performance.
The Procurement Pain Point and Insights Offered
A renowned food service client was facing predicaments understanding their supply structure and the typical risks associated with the supply chain. The client further wanted to understand the risks likely to impact the business, the supply trends and forecasts, and the profitability across the supply chain. Moreover, the client wanted to ensure robust production and delivery capabilities and avoid the issues related to the sales losses and further wanted to safeguard the corporate image and customer satisfaction.
To develop a comprehensive risk strategy, the client approached SpendEdge. With years of expertise in offering a plethora of services, SpendEdge’s supply chain risk management experts carried out a blended approach comprising of interviews and discussions with leading stakeholders in the food service space. Moreover, the client further collated information from a variety of proprietary sources such as paid industry databases, company presentations, industry forums, and newsletters.
After gauging complete information into the supply chain landscape, SpendEdge’s supply chain experts helped the client identify and mitigate the risks associated with supply chain processes. Furthermore, the solution helped the client collect, analyze, and manage supplier information and gain actionable insights into the potential financial issues in the food service space.
Key questions answered in this supply chain risk assessment include
With the help of the supply chain risk assessment solution, the client was able to identify the potential threats and devise effective technologies to gain better visibility into the spend, contract management, and compliance. Furthermore, the client was able to gain strategic real-time insights into the risk factors affecting their growth prospects.