eProcurement

Total control. Every purchase, every penny.

Procurement can be one of the most complex areas of hospitality to manage. It's difficult to know exactly what and how much you need and when you need it. And making sure you purchase from approved suppliers and only pay for what you order and receive adds to the challenge.

eprocurement

 

Meet Your Challenges

  • Only order and pay for what you need.
  • Prevent unauthorised purchases with permission-based process.
  • Control all purchases including services, utilities and non-catalogue items.
  • Buy only from approved suppliers.
  • Highlight performance inefficiencies for further savings with smart procurement analytics.

Fourth makes it easy to manage your procurement. By automating the entire process, you get the stock you need in the right place at the right time at the agreed upon price.

Key Benefits

  • Automation and rationalisation of supplier base reduces the cost of buying and accounts payable overhead.
  • Digital supplier contracts with automated reminders prior to contract expiry simplify purchasing.
  • Automated processes eliminate wrong deliveries and inaccurate invoices.
  • Predictive ordering helps guarantee each site's stock availability and delivers significant waste reduction.

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Features

Supplier Network

The Problem
The more suppliers, the more room for inconsistencies in offer and performance. Trading manually brings paper trails, overpayments and delivery inaccuracies.

Our Solution
Trading electronically through Fourth's automated supply chain reduces cost for everyone. No other platform has as many fully integrated suppliers. PDF invoicing enables smaller or low volume suppliers to trade electronically too. Electronic proof of delivery eliminates paper delivery notes and enables invoices to be handled in seconds, not days. And smart vendor management reporting means that you stay in control.

Catalogue Management

The Problem
A multitude of supplier catalogues in offices across the estate make it virtually impossible to guarantee all purchasing is made according to agreed-upon prices.

Our Solution
Online catalogues transform the purchasing process. They improve compliance and processing of guaranteed rebates. Vendor performance reporting makes it easier to see who your stars are, while smart analytics show you any areas needing attention. Control pricing by exception and eliminate maverick buying. And automatic loading of products and prices reduces manual input to a minimum.

Ordering

The Problem
Many sites ordering many items manually from many suppliers can be a recipe for over-payments, under-deliveries and operational inefficiency. Managing purchasing permissions can be complex and the checks and balances time-consuming.

Our Solution
With Fourth, you get real-time visibility and control of spend from electronic supplier product and price lists. Your gross margins improve due to eliminating maverick spend, achieving total purchasing compliance, guaranteeing rebates and reducing administrative overhead. And clever spend analyticsreporting shows you all the areas that can drive even greater profitability.

Suggested Ordering

The Problem
Manual sales and ordering forecasting is unreliable and can make serious dents in margin. Sites throw profit away along with unused food past its sell by date. Revenue opportunities are missed because of inventory shortfall. And customer service is impaired through inefficient prepping, causing delays.

Our Solution
Fourth’s suggested ordering and guest service planning functionality uses the centrally generated recipe sales forecast to help each site order the right products in the right quantities. Customers receive dishes quickly because the kitchen is appropriately prepped. Replenishment order quantities are calculated using par stock/reorder point and on-hand balances, and re-ordering for both purchasing and internal transfer is by par value/reorder point.

Budgets & Approvals

The Problem
It's difficult to establish and maintain effective audit trails and control for transactions ranging from the smallest food order to the largest CapEx programme. Unreliable, labour-intensive paper-based processes were incapable of providing real-time spend versus budget analysis.

Our Solution
Fourth's smart dashboards bring expenditure to life - and help monitor and track phases of CapEx. Pre-configured menus of procurement choices keeps sites on-brand and working with approved suppliers. And a comprehensive, easy-to-use authorisation process gives instant access to up-to-the-minute spend versus budget information.

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Specs

All you need to run Fourth’s products is a device with an internet browser. Yup, that’s it.