Making the pounds go further - coping strategies for rising food prices
Food inflation is a reality we are all feeling at the moment. Whilst allmanhall are negotiating down proposed price increases, advising on product alternatives and range management, as well as mitigating risks on behalf of caterers, there are a number of other things you can also be doing. These will help lessen the impact of the rising cost of food and make your budget go further! Read on for some sound advice…
Three key areas caterers can be focussing on now:
1. Supply chain management
There are three key subareas which you can consider as part of your supply chain management to ease food inflation costs.
a) Your approach
- Operating dual supply
- Consolidating your suppliers
allmanhall can help with all of these!
b) Range management
Undertaking a review of product lists is of benefit, enabling you to have focused buying lists with just the products needed to operate effectively.
c) Cost to serve
This is the cost for a supplier to make a delivery, and you can reduce it by limiting the number of deliveries each week; increasing the value of each delivery; reducing the need for your supplier to split cases.
Read about these tips for caterers’ supply chain management in more detail here.
2. Operational practices
You could also consider revisiting the following practices in your catering team and processes, with a real focus on the financial outcomes. There could be some very tangible benefits to be gained through some small adjustments…
a) Multi and upskilling your team to increase efficiencies
b) Waste reduction
Food waste can be a big unnecessary expense, along with being an environmental issue – whether this is kitchen waste or waste from meals read more here. For more tips on reducing waste click here.
Consider your long-term capital investment strategy with regards to equipment. Using modern equipment can really drive cost efficiencies. For further information on practical steps surrounding operational practices, click here.
3. Recipes and menus
This has a real impact on food costs. Using smart and effective recipe and menu engineering can make a big difference, without changing your offering, you can shave off unnecessary costs with the tips below:
- Flex your recipes
- Increase in-house production
- Follow the seasons
- Brand vs own label
- Drained weight of tinned goods
For more detail on each of these points, simply click here!
For more consultative advice or guidance, contact us or find out more about how we can help, here. allmanhall’s approach is hands-on and practical, delivered by our team of experienced caterers and food procurement experts.