CHICAGO, Feb. 18, 2019 (GLOBE NEWSWIRE) -- ArrowStream, a leading technology provider to the foodservice industry, announced the launch of Operator Collaboration, a new application that connects suppliers to ArrowStream customers that collectively represent $20 billion in annual product spend. Suppliers benefit from this connection through improved access to sales opportunities, a platform to market their products to restaurant chains, and collaboration tools that streamline the contracting process.
“With consumer dining preferences constantly evolving and competition intensifying, the restaurant industry has adopted a mindset of continuous product innovation and evaluation in order to stay ahead,” said Jeff Dorr, ArrowStream’s Chief Customer Officer. “Despite the need to bring compelling new items to menus, the industry continues to struggle with limited information on available products and manual processes for selling and buying. With Operator Collaboration, we’ve created a platform that breaks down these barriers, enabling suppliers, distributors and operators to share information more cohesively, innovate faster and ultimately grow.”
Operator Collaboration provides suppliers with access to the ArrowStream system through a simple onboarding and verification process. Once verified, suppliers gain access to ArrowStream’s entire network of chain restaurants. Major capabilities of the system include:
Sourcing Directory Access & Customized Profile – ArrowStream’s sourcing directory is viewed by hundreds of buyers and culinary professionals. After registering, suppliers are able to customize their profile page with extended details about their company, their products and their distribution network.
Access to Sourcing Events – Participating suppliers receive and can respond to sourcing events or RFPs from ArrowStream clients. Responses are captured electronically through simple workflows that eliminate confusion on timelines, deliverables and the status of the events.
Contract Price Workflow – Suppliers and operators can easily manage price updates through an online workflow where both parties are alerted when updates are made and approved. The solution also enables suppliers to post pricing updates simultaneously to multiple chain restaurant customers through a single tool. When the process is complete, ArrowStream’s Contract Price Auditing tool ensures that distributor billing matches the price agreed to by the supplier and operator.
Beyond helping suppliers and operators buy and sell, ArrowStream also seeks to simplify the contract process.
“Through Contract Price Auditing, suppliers and chains are able to stay synchronized on pricing changes,” said Bill Michalski, Chief Solutions Officer at ArrowStream. “Using an online collaboration tool keeps both sides in the loop on communications and alerted when contracts are expiring, deadlines are approaching or when approvals are needed. The tool will minimize miscommunications or disputes by providing a single version of the truth that both sides have signed off on.”
Another critical objective for Operator Collaboration is to help suppliers and operators to forge new business relationships.
“In foodservice, a large percent of supplier-to-operator connections are made through word-of-mouth and online searching. Simply put, there isn’t a single place for chains to find new suppliers and this slows down menu innovation,” said Michalski. “With our new supplier directory and sourcing event applications, we’re simultaneously helping restaurants to innovate faster while helping suppliers find new sales opportunities. Our goal is a win-win for both sides.”
Operator Collaboration will be available in the second quarter of 2019. To sign up for information or upcoming webinars please visit www.arrowstream.com/subscribe.
About ArrowStream
Based in Chicago, ArrowStream powers the intelligent foodservice supply chain with its tailored solutions for supply chain collaboration, visibility, sourcing and quality management. ArrowStream serves hundreds of restaurant operators, distributors and food manufacturers across North America. www.arrowstream.com
Media Contact:
Kate Hubbard
ArrowStream, Inc.
khubbard@arrowstream.com