Saving with Foodbuy and Increasing Engagement
How Foodbuy helped a management group increase conversion rates through engagement and use of Foodbuy data and solutions resulting in overall savings.
A national management group established goals of reviewing and streamlining spend as well as increasing program engagement to capitalize on available opportunities and drive savings to this management group’s bottom line.
Foodbuy Member Development Support, in conjunction with the management company, conducted a review of all distribution platforms, current suppliers and overall spend across a twelve month period. Using the Foodbuy proprietary data-collection software, supplier velocities and property level invoices, Foodbuy was able to provide an extensive analysis of spend, identify gaps, uncover service concerns, address culinary recommendations, align distribution platforms and provide direct supplier support on a national scale.
After a thorough scrub of the data, over $350k in savings was identified. A critical path was identified for program adoption and engagement with recommendations tested, evaluated and approved.
As a result of our close collaboration and problem solving, Foodbuy was able to:
- 60% conversion rate of optimized product
- $175k savings with conversion to contracted manufacturers
- $160k revenue gain sourcing additional supplier partners
- $24k savings by streamlining distribution and reducing mark-up costs
- $106k total revenue gain
- Increase in year over year participation by 11%
- Visibility and control of an additional $400,000 in total volume