The food and beverage industry is a price-sensitive sector of the economy. While competition has forced the food business to operate on wafer-thin margins, the rising input cost has pushed many of them towards the brink of bankruptcy. As lockdown was lifted and the global economy saw green shoots of recovery, there was a sturdy rise in fuel and cooking gas costs. The cost of raising energy prices has a cascading effect on the price of the food ingredients due to higher transport costs and a rise in cooking gas, leading to higher utility bills for food businesses.
While factors like increasing fuel bills are beyond the restaurant’s ambit and cannot be regulated, many a time, restaurants wish there would be better price transparency and multiple vendor options to manage the cost part. An online marketplace where restaurants and vendors can meet and transact is a solution to restaurant procurement challenges; a restaurant B2B digital marketplaces modelled on similar lines like Amazon Business or Alibaba.
How can the restaurant marketplace be a solution?
Choco and Kitchify are two examples of B2B restaurant online marketplaces headquartered in Berlin, Germany and colorado, USA respectively. These marketplaces compare real-time pricing and availability from multiple vendors. It enable restaurants to place orders for their kitchen with one click, thereby saving money and time. The need for the hours is for an Indian online restaurant marketplace that can connect local food suppliers with F&B units large and small. Such a marketplace will simplify and speed up the process of buying without any phone calls and documentation.
The concept of the digital marketplace is gaining acceptance in India. VYAP is one such initiative, an online marketplace especially built for the HoReCa industry. Experienced professionals have used their expertise in digital ecosystem and handling the food business supply chain and logistics in developing VYAP for the benefit of restaurants.
Here are some of the ways a restaurant business can benefit by procuring through the VYAP marketplace:-
The pandemic has led to supply chain disruption leading to the fluctuation in the cost of food ingredients and other raw materials used in the restaurants.VYAP marketplace enables restaurants to choose the best quality ingredients from multiple suppliers. Also, standalone small and medium restaurants, that do not benefit from bulk buying can still get wholesale rates.
All the suppliers inducted into the online digital platform undergo parameter checks. Only after thorough checks are suppliers allowed to sell in the marketplace; hence only quality materials are traded in the platform. Before dispatching the food ingredients, all the goods undergo quality checks; therefore, restaurants get only quality food materials.
The food industry is the least digitised, leading to 30 to 40% of the product being wasted before reaching the end customer. Following the pen and paper order system is one of the reasons for this high degree of wastage. VYAP marketplace will be integrating the digital ecosystems to digitise the entire purchase flow, thereby reducing wastage.
Restaurant managers and chefs are the ones who give orders to suppliers; many of these staff members get commissions from these suppliers. This kind of pilferage happens by inflating bills due to products being bought from multiple vendors; auditing the invoices again becomes a headache. VYAP marketplace is a boon for restaurants, especially one with many branches, as all the invoicing is done under one platform.
Transparent Supply Chain
One of the biggest challenges faced by the food industry is the supplier’s reliability about the quality of the product delivered and the delivery time. An online marketplace integrates something that customer wants, i.e. increased product choice, competitive pricing and superior customer experience. Customer support will help restaurants troubleshoot the issues they face while shopping.
Online restaurant marketplace shows real-time availability of the products, and orders once placed will be delivered as per the commitment provided. Once the order is placed, the entire journey from the warehouse to the restaurant is tracked, thereby reducing the chances of delay.
All the orders placed on the VYAP marketplace are provided with end-to-end delivery. The process of picking up the product from the warehouse and delivery to the restaurant is taken care of by the VYAP. The delivery and the warehousing facility are provided free of cost.
There are numerous add on benefits for first time users like an INR 500 credit and free access to point of sales software. Please write back to know more about the newmerous introductory offers and more.