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Category: Casinos

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4 Things to Consider Before Working with a New Supplier

There is a lot to consider when seeking out a new supplier. The right supplier will have more to offer than just competitive pricing. Even small details are a big deal in the hospitality industry, so every supplier, large or small, must be thoroughly vetted to ensure they meet your business’s quality standards. Here are four things to consider when evaluating a potential supplier:

Pricing

Pricing is a significant deciding factor when it comes to choosing a supplier. Securing preferred pricing status will ensure that you never overpay for your hospitality supplies. The lowest prices are typically offered to businesses that can place high volume orders or are part of a large chain. However, even if you own a restaurant or boutique hotel that can’t commit to that type of volume, there are still ways you can access preferred pricing. Identifying vendors that are part of a large purchasing network, like Source1 Purchasing, will give you access to deviated pricing and rebates that you typically would not be able to take advantage of on your own.

Quality Control

You know how important it is to work with suppliers with a solid reputation. However, even when working with a well-known supplier, it’s important to do your due-diligence and understand how they handle incidents related to their products. For example, ask potential food suppliers what their process is for executing recalls in the event of a salmonella outbreak or similar incident. They should be able to tell you how quickly they would be able to notify you that an affected product should be pulled from inventory.

Order Process

One item that is often overlooked when researching new suppliers is how orders are managed. With so much on their plate, Purchasing Managers need to streamline their ordering processes as much as possible. Whenever possible, work with suppliers that offer online portals or other tools that make ordering from them more efficient. Whenever possible, you should seek to work with suppliers that will give your company priority status. Customers with priority status typically get their orders expedited and can get order minimums waved when necessary. Being part of a large buying group can help you achieve this status even if your company doesn’t typically make high-volume purchases.

Versatility

Special consideration should be given to suppliers that are able to meet multiple needs. Limiting the number of suppliers you work with will typically save your company both time and money. Aligning with a purchasing partner like Source1 Purchasing can help you consolidate your current list of suppliers and streamline your ordering process. If you have suppliers that you already know and trust, Source1 Purchasing can manage their quality and service metrics and negotiate pricing on your behalf.

To learn more about how Source1 Purchasing can help you manage your supply chain while helping you save money, contact us for a free supply chain analysis. We are typically able to identify savings of 9% or more on all your hospitality supply needs.

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When Product Substitutions Can be Good for Your Business

Brand consistency is an important factor to success in the hospitality industry.  Customers will continue to return to an establishment if they know they can rely on a consistent experience each time they visit.  Striving for consistency can make many purchasing professionals sticklers for brand loyalty. However, there are times when product substitutions can not only be acceptable, but beneficial to your business. Subbing a brand name product can often be done without compromising quality. In addition, using a substitute supplier may offer both price advantages and increased stability to your supply chain.

Hotels, restaurants, and casinos put a lot of work into identifying suppliers that meet their quality standards. Suppliers of everything from food to linens must align perfectly with a company’s brand. The need for brand consistency is so imperative that many purchasing departments are reluctant to consider any substitute products once they’ve found a supplier they like. They are often unaware that there are alternative suppliers that can offer them a nearly identical product, often at a lower price. Once you’ve identified a company that offers products comparable to your current inventory, request a sample so you can thoroughly assess whether the supplier can meet your quality standards.

While cost savings is the main appeal of subbing a product, the substitute supplier may be able to offer values in other areas as well. For example, the company may carry a variety of products that your company currently purchases from multiple suppliers. Consolidating the number of suppliers you work with makes purchasing more efficient and can lower the costs of your hospitality supplies and services. If the alternate supplier is part of a large purchasing network, you can increase your cost savings even more by opting into their program to take advantage of discounts on items like food, linens, and maintenance supplies.

Even if you’re happy with your current supplier and pricing structure, it could still be beneficial to vet substitute suppliers. If you ever find yourself in a position where your current supplier experiences an inventory shortage or a significant price increase, having an alternate source for your essential products can help you avoid costly inventory shortages.

Identifying new strategic suppliers can be a difficult task, however, the purchasing specialists at Source1 Purchasing can help you identify the best suppliers for your business. Get to know our network of quality suppliers by contacting Source1 Purchasing today.

 

Casinos

How Casinos Can Position Themselves as Health and Wellness Destinations

With endless amounts of food, drink, and entertainment waiting just beyond their doors, casinos are a huge draw for adults looking to have some fun. There is, however, a rising trend of guests looking for experiences beyond the buffets and rows of slot machines. Many customers are now calling for more health-centered dining and activity options. For casinos seeking to cash in on this trend, becoming a health and wellness destination doesn’t have to mean abandoning their roots. It is possible for healthier dining and activities to seamlessly coexist with a casino’s existing offerings.

Although casinos have long been synonymous with excess, health-minded guests are more concerned with quality than quantity. Consuming fresh food and sustainably-sourced ingredients is a top priority for them. There are many opportunities for casinos to incorporate clean-eating menu choices throughout their resort. Green juices and smoothies can be a profitable addition to an on-site coffee bar. These can be made to order or pre-bottled and offered as a grab-and-go option. Restaurants can appeal to guests who observe restrictive diets by incorporating vegetarian, gluten-free, and low-fat dishes in their menus. Likewise, cocktail menus can be modified to include a selection of “skinny” drink options.

Some casino guests enjoy exercising even when they’re on vacation. Many larger casinos have sizeable on-site fitness centers with a wide array of free weights and cardio machines. However, even a casino without a dedicated gym can offer guests an opportunity to get a workout in during their stay. Yoga classes and guided meditation can be offered either pool-side or in a ballroom during early morning hours.

Spa treatments are another popular option for guests seeking to partake in some self-care during their stay. Casinos with on-site spas should focus on creating a quiet sanctuary where people can take a break from the energy on the casino floor. Small touches like ambient noise and aromatherapy can help add to a relaxing atmosphere.

Any casino can position themselves as a health and wellness destination. With proper kitchen staff training and quality food and drink suppliers, healthy dining options can easily be incorporated into a resort’s current menu. Partnering with suppliers that offer a wide variety of quality clean eating options doesn’t have to affect operating costs. As purchasing specialists, Source1 Purchasing has the ability to get casinos the best possible prices from top-rated suppliers.

Take your next step toward greater profit with the Source1 Purchasing Solution.
Call: 888.411.9987
Contact Us Here
www.source1purchasing.com

Click here to get your free Market Basket. (Typically, a Market Basket will identify savings opportunities of 9% or more!)

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Reacting to Negative Online Reviews

Social media has made it easier than ever for a customer to share their opinions with the world, which can have a positive impact on your business. The majority of reviews posted online are favorable. Online review sites are a great way to get exposure for your restaurant, hotel, or other business. But what if you receive a bad review online? How should you respond? No matter how dedicated you are to providing your customers with a positive experience, chances are you may have to deal with a negative review at some point. Here are some tips for handling a bad review:

Have a Plan in Place

Even if you’ve never received a bad review in the past, it’s a good idea to have an action plan in place so you can swiftly address a negative review when it’s posted. Many business owners and managers make the mistake of allowing their emotions to get the best of them when a bad review comes in. The result is often a defensive and ineffective public response to the reviewer which can reflect poorly on your business.

Act Quickly

When it comes to online reviews, failing to address negative feedback in a timely manner can make matters worse. Potential and existing customers can mistake your silence for indifference. Reply to the review publicly, letting the customer know that their concerns are a top priority. If possible, request more details about their experience via a private message. Talk to any staff members that may have knowledge of the incident in question to determine where you could have served the customer better.

Make it Right

Do your best to mend your business relationship with the reviewer. If you find that your establishment failed to offer them with adequate service, compensate them in a way that seems fair. The promise of a future discount or a credit or partial credit of their recent visit can go a long way in bringing a disgruntled customer down to a cool calm. Above all, be sure to always validate their feelings, even if you don’t feel your business was in the wrong. Many customers will update their review if they feel you adequately handled their complaint.

Negative review can be devastating, especially for restaurants and hotels with multiple locations, where a bad review of one location can hurt business for all the other locations. If your expansion has caused variability in the customer experience, you will benefit from a purchasing services organization that will help you initiate restaurant-wide buying standards and set up systems to monitor and enforce your procurement processes.

Take your next step toward greater profit with the Source1 Purchasing Solution.
Call: 888.411.9987
Contact Us Here
www.source1purchasing.com

Click here to get your free Market Basket. (Typically, a Market Basket will identify savings opportunities of 9% or more!)

Blog PostsCasinos

Casinos Use Food and Beverage to Sweeten the Pot

With new restaurants, more menu choices for in-room dining, high-end buffets, and new gaming table snacks casino operators must be smart about food and beverage purchasing. Many casino operators are opting to work with purchasing partners to help them lower food costs and generate additional revenue.

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The Secret Sauce of Menu Pricing

In the hospitality industry, whether you are running a hotel with food and beverage services or a managing full service restaurant or managing a catering company, pricing food is always the key to profits and it’s more important than ever before.

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