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Hospitality

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Mintec customers' have been able to transform their businesses and identify opportunities to save millions using Mintec Analytics.

Mintec Customer

 

Hospitality

quote
Mintec customers' have been able to transform their businesses and identify opportunities to save millions using Mintec Analytics.


Mintec Customer

 

hilton_bw
accor-1
yum
scandic
McDonalds
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hilton_bw
accor-1
yum
scandic
McDonalds
reach logo

 

Hotels restaurants and hospitality brands like Hilton, Accord, Yum and Scandic Hotels have responded to their challenges, by improving cost control, efficiency and risk management processes in their procurement, category management and sourcing teams leveraging the latest data and analytical tools.

The Challenge

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Business leaders realise that despite access to multiple data sources, their buyers and category managers are often unable to take advantage of the potential opportunities the insight provides.

The challenge caused by a lack of time and resources limits their ability to integrate and analyse disparate data sources. The result is an incomplete picture where a lack of clarity restricts collaboration, hinders their ability to standardise processes and maximise efficiency savings.

A lack of price visibility and the ability to benchmark market prices to actual supplier prices prevent cost-saving opportunities from being identified. Potentially resulting in higher costs and increased competitive risk. Ultimately, driving up costs for their customers.

Furthermore, the lack of granular raw material price data prevents effective cost modelling from monitoring price volatility's effects on product costs. Ultimately, restricting the companies' ability to adapt its buying strategy and buyers to negotiate effectively with suppliers.

The Solution

solution1

Mintec implemented its analysis tools and data specifically selected to meet the hotel and hospitality sector's needs. With Mintec Analytics. The tools and data delivered supported analysis of direct and indirect raw material costs across these multisite organisations. The tools provided access to comprehensive price data via a fully customised category and procurement dashboards. These enabled teams to track price movements and conduct detailed spend analyse.

This approach has delivered success to a wide range of hotel and hospitality groups. The solution has enabled them to access any of the +15,000 commodity prices to manage and respond to current challenges accurately. Mintec Analytics gives them access to:

  • Integrated raw material and commodity analysis

  • Personalised alerts and price dashboards for supplier contract management

  • Market insight and extensive price data

  • Fast reporting to help them access the information they need

  • Benchmarking supplier pricing across a range of commodities



 

The Benefits

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Access to reliable market prices on relevant materials all in one easy to access location has reduced the time spent collating data, performing analysis and preparing for planning and supplier negotiations. It also underpins their ability to accurately track price movements and enable procurement to respond to any price volatility.

 

By being able to use the resources in Mintec Analytics, they can better track prices in these markets and benchmark their suppliers. This ensures they are better able to control their costs and remain more competitive.

 

Mintec Analytics was able to consolidate their workload of manual market tracking and create customised dashboards and cost models for a wide range of products, all of which can be updated regularly and in bulk using data integration tools APIs.



 

Baked Goods Customer

We have found Mintec to be an invaluable part of our purchasing strategy, budgeting and supplier negotiations.



BROCHURE

The Mintec guide to commodity price data.

Explore our commodity price data coverage. 

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