Procurement Intelligence Study – Assessing the Procurement Best Practices in the Catering Services Market

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Procurement Intelligence Study – Assessing the Procurement Best Practices in the Catering Services Market

SpendEdge’s procurement intelligence study on the catering services market for companies in the telecom sector provides information on cost structures, supplier engagement models, and procurement best practices, which can help them maximize the ROI and find the right suppliers.

Developments in the catering services market

Catering services suppliers provide the food products on-premises or at remote locations such as academic institutions and hospitals. The implementation of food safety and hygiene measures, supervising the catering staff at events, monitoring the quality of the food and its packaging, and planning production is part of the service provided by the catering companies. The different types of services offered by the vendors include mobile catering, café services, event catering, vending services, and contract catering. The growing awareness about the benefits of a balanced nutritional diet and increasing demand for personalized or customized meals is fueling the growth of the catering services market. The increasing popularity of food truck services is revolutionizing the catering services market. These food delivery options offer a wider variety of food, quick service, and are more cost-effective than most of the dine-in restaurants. The growing focus on service innovations such as the use of trending cooking styles and live kitchen counters will have a positive impact on the growth of this market.

The procurement intelligence study by SpendEdge helps companies understand the procurement trends in the catering services market and address the end-user requirements. The increasing demand for nutritious and healthy meals is creating new opportunities for service providers in the catering industry. The organizations in the market are looking for suppliers that can provide vegan and gluten-free alternatives that promote a healthy lifestyle for employees. The demand for dietetic foods or other restrictive balanced meals is boosting the demand for new service providers in the market.

Introduction of varied service stations

The emergence of a wide variety of serving stations helps catering service providers to build a strong brand for their products and attract a larger customer base. The popularity of the live-action stations is gaining immense popularity in the market. These stations feature chefs who exhibit different cooking techniques, prepare meals right in front of guests, and encourage guest interaction. Business events, conferences, and formal meetings request for grazing stations that have an elaborate display of bread, dips, salads, fruits, and light snacks.

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Focus on innovations

The growing focus on service and product innovations will help companies to remain competitive in the market. The innovations in equipment save on labor costs, reduce cooking time, and improve the quality of service. The service providers are developing pioneering packaging solutions that maintain hygiene of packaged food, reduce wastage, and enhance food safety. The use of biodegradable materials such as biopolymers and bioplastics to package meals will help service providers promote sustainability and comply with the food and environmental safety regulations. Path-breaking innovations will help service providers gain a large share of the market.

Solutions SpendEdge offer to businesses

SpendEdge’s procurement intelligence study on catering services market for companies in the telecom sector analyzes cost structures, supplier engagement models, and procurement best practices. The solutions offered are listed below:

  • Identify the right catering service providers and negotiate competitive rates
  • Offer a comprehensive understanding of the supplier engagement models, supply market landscape, price negotiation strategies, and pricing models
  • Evaluate the suppliers’ operational and functional capabilities, major regulatory compliance, suppliers’ evaluation and selection criteria, and strategic sustainability practices
  • Categorize the supplier engagement models, cost category drivers, and key market trends
  • Track the latest trends in procurement to help the client maximize their ROI and find the right suppliers

Read our complete case study titled – Procurement Market Intelligence Solutions Helps a Global Telecom Company

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