Food Market Hub in Helping Enterprises Reach Their Full Potential
Remember that eatery your family loves to visit during weekends? The go-to place that serves consistent, delicious meals every time? If you could think of any, that means they have successfully won your hearts and taste buds - which is the F&B enterprises' dream.
However, even the most successful enterprises would fall without proper management. Backend operations such as matching invoices, procuring orders from suppliers, and tracking every piece of inventory are all such dainty obligations, especially when they’re done manually.
With untraceable food costs and hidden charges, it is almost impossible to see profit margins at the end of the day. And after all, they still need to burn the midnight oil just to reconcile daily calculations with bills and receipts. Eventually, it is all not worth it.
As we move towards digitalization in the SME industry, thousands of innovations are aiming to solve this ongoing problem. Among these innovators is Food Market Hub, a startup based in Southeast Asia specializing in procurement and inventory management.
Food Market Hub, Procurement Solution for F&B Businesses
We’ve been operating since 2017 in helping restaurants and suppliers to experience effortless backend operations management through our cloud-based platform.
With our digital solution, SME industry players are now working almost 80% greener and sustainable without wasting more paper for documentations. In research by Gartner, paper waste can take up to 1% to 3% of the company’s revenue; and among all those printed papers, 17% of them will result in paper waste. 1% to 3% save may not sound much but you can actually save a lot of costs by going digital.
Besides, according to QSR Brands, a renowned enterprise holder for KFC and Pizza Hut, their outlet managers claim they have a better work-life balance after the company decided on using the Food Market Hub software.
More than half of them agreed that they are able to return home on time as they have completed over 80% of their tasks before the end of the day. As a result, they come back to work the following day feeling more productive and happier.
Not just that, many elderly managers were very determined that they are becoming familiar with the platform very quickly because of the simplicity of the UI. And because the app is available on every mobile device, supervisors can now work remotely in the comfort of their homes.
This advantage for mobility has also given the users the freedom to move around while doing stock counting and inventory checking during delivery day.
Additionally, KFC also commended the advanced forecasting system called ‘Kitchen Projection’. We are utilizing Amazon Web Service (AWS) Machine Learning's framework to make this amazing innovation happen.
This system is equipped with POS integrations, weather reports, and holiday seasons to generate an accurate report. With this, the AI technology can auto-learn to forecast sales for production staff to prepare orders.
Now, Kitchen Projection enables KFC staff to predict orders within the next 30 minutes. As a result, customers can always enjoy the juiciest, freshest fried chicken every time.
Not just that, this forecasting system is helping the KFC team to reduce 48% of their customers’ waiting time, as menu items are always available on time. This improvement has also helped delivery riders to deliver orders faster than before.
Apart from that, with accurate order forecasting, they are able to reduce the amount of wastage up to 12%, which was often happen due to overproduction. As a result, they could operate at lower food costs while achieving daily KPI.
All in all, as we are following the global trend of digitalization in the F&B industry, enterprises are advised to subscribe to a digital tool. As this would help ease their business operations. We can already see promising growth for enterprises that are utilizing a digital framework. This is especially assured when the market is consistently moving in this direction. From scaling your business to managing daily operations, digital is the best way to go.
With Food Market Hub's solution, you can now worry less, and instead, focus on delivering the best meal in town and consistently bringing smiles to your customers’ faces again.