The Power of Digitalisation: Food Market Hub's Role in Humble Food Company's Cost Cutting
April 12, 2023
Food Market Hub has been instrumental in helping Humble Food Company cut costs by simplifying and automating their business processes. The company's CEO, Farizan Majid, was faced with the challenge of managing inventory and cash flow, which led her to seek out new ways of streamlining her operations. This is where Food Market Hub stepped in.
How compiling accurate data proved to be a game changer!
Food Market Hub is a valuable tool for companies in the food industry looking to simplify and automate their processes. Humble Food Company leveraged Food Market Hub to streamline their ordering process, from communicating with suppliers to generating purchase orders and receiving invoices, all within the Food Market Hub app. All of these activities are recorded in both the merchant's and supplier's apps, reducing the chance of miscommunication and providing a clear trail of all transactions. By using real-time data of stock on hand, purchase history, and price variance, and automating the ordering process, Food Market Hub helped Humble Food Company eliminate mistakes such as ordering the wrong items and quantities. This not only saved the company time and resources but also allowed Farizan Majid to compile data and determine the group volume, which in turn allowed the company to negotiate better prices with their suppliers. By utilising Food Market Hub's innovative solutions, Humble Food Company was able to streamline their operations and achieve cost savings.
"We are able to compile all the data in order to determine what is the group volume and negotiate better prices with our suppliers." - Farizan Majid (CEO of Humble Food Company)
Automation & Digitisation: A sure shot path to cost reduction
In the food industry, cost reduction is crucial and automation and digitalisation play a key role in achieving this goal. With Food Market Hub, Humble Food Company was able to streamline their operations and reduce costs associated with manual processes. Our procurement management capabilities allowed Humble Food Company to control costs at the procurement stage, which is where cost control is best and most effective. This proactive approach to cost management helped Humble Food Company avoid overstocking, which can be a major drain on company resources, and monitor their prices, identifying cost increases with the use of purchase history logs. It is crucial to remember that it is too late to manage cost at the inventory stage, emphasising the importance of effective procurement management in achieving cost reduction goals.
"Food Market Hub helps us simplify and automate a lot of activities, so the whole ordering process becomes a lot easier" - Farizan Majid (CEO of Humble Food Company)
Revolutionary technology that skyrocketed efficiency!
Food Market Hub believes that technology should empower businesses, not hold them back. With Food Market Hub, Farizan Majid and her team have been able to save time and focus on what they do best - providing delicious and wholesome food to their customers. Food Market Hub has helped Humble Food Company become more efficient and cost-effective, giving them a strong foundation to grow their business even further.
"We found better methods that strengthened our fundamentals."- Farizan Majid (CEO of Humble Food Company)
At Food Market Hub, we are passionate about helping food companies like Humble Food Company succeed. We are proud to have been a part of Humble Food Company's journey and look forward to continuing to support them in their future endeavours.
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