Balancing profitability with sustainability is a key priority for hospitality leaders. But adopting sustainable practices such as resource management, responsible sourcing, and waste reduction are often associated with added costs.
In a recent article published in Hospitality Technology, “How a Smarter Procurement Strategy Leads to Greener F&B Business Practices,” Valerie Layman, Chief Product Officer at BirchStreet, explains why a centralized, tech-driven approach provides the data, transparency, and accountability needed to build a truly sustainable supply chain.
Specifically, Valerie highlights the ways in which procurement software can improve sustainability efforts by:
- Cataloging suppliers by key environmental attributes
- Providing the transparency needed to measure and report on data-backed sustainability efforts
- Helping reduce over-ordering and spoilage by analyzing purchasing and consumption patterns to anticipate the required inventory level
- Ensuring that vendors who meet sustainability standards are prioritized
- Consolidating shipments, resulting in fewer deliveries and reduced fuel consumption
As a result, prioritizing sustainable practices and building a sustainable supply chain through procurement optimization not only improves your brand reputation but can actually create greater efficiencies and lower costs.
In a world where complex supply chains require tools to support fast, data-backed decision-making, those still relying on outdated or manual procurement processes may fall behind.
Read the full article to learn more about how you can build a sustainability engine through procurement technology.