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Food Procurement Data

With Mintec Analytics food procurement data and analytical tools, you can improve food ingredient and commodity buying operations. Our analytical tools help you buy and sell with a better margin. For more details, visit us at : https://www.mintecglobal.com/digital-transformation-in-procurement<br>

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Food Procurement Data

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  1. WELCOME TO

  2. Food Procurement Data

  3. Transforming food purchasing & commodity sourcing with advanced analytics in procurement Today there is endless information available at near-real-time. Large volumes of data can overwhelm food procurement teams and result in missed opportunities and poor decision-making. Too much data can be as challenging as too little. The majority of procurement leaders claim to have access to price and commodity data. Many admit that, when looked at more closely,  it's not always the data that relates to their biggest spends—often resulting in blind spots in understanding their product costs and validating their supplier prices. These blind spots are compounded when you are looking across thousands of products and raw material ingredients. As a result of these challenges, the procurement industry is reaching a digitalization tipping point. Automation is transforming the nature of the supply chain to create an intrinsically connected process. While the benefits of digitalization have been widely agreed upon, the process is going to be a long-term project with many moving parts.

  4. Challenges in Food Procurement Food procurement professionals are under increasing pressure to evolve and innovate their buying strategy. Yet despite this, category buyers are faced with capacity and capability constraints so need to find new ways of generating productivity. Continual investment is key to improved future performance. Aligning procurement with finance Both procurement and finance drive organisational success and can ultimately increase the profitability of the business. However, there is still misalignment between the two functions which typically results in: • Procurement struggling to realize a position of strategic influence at the board table • Budgetary requirements and forecasting abilities being disputed by these two core functions

  5. Missed opportunities in the tail spend Food category buyers and procurement teams in general spend lots of time and money on research and analysis of the limited items which comprise their core spend. As a result, the tail spend remains a largely untapped resource. If equal attention could be paid to all areas of spend, organisations would be able to realize significant cost savings. New technologies needed to harness data-driven-insights Introducing modern digital technologies into procurement will improve purchasing performance and help to realize wider business goals. Analytical tools which allow procurement teams to increase their productivity and performance, whilst also realizing cost savings in supplier negotiations, are vital to the continued development of the procurement function.

  6. Opportunities People, processes and technology will determine future Improvements in procurement capabilities. Investment in each of these three areas will play a crucial role in the evolution of procurement performance. 

  7. Our Solution MINTEC ANALYTICS Mintec is an independent global leader and trusted provider of advanced analytics tools, insights and pricing information for raw material costs. Our mission is to help our customers achieve significant savings by providing superior commodity price data, advanced analytics tools and data-driven insights.

  8. CONTACT US City: San Francisco State: California Zip code: 94016 Country: USA Phone no- (+1)9728977494 www.mintecglobal.com

  9. THANK you

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