ArrowStream, Inc. ("ArrowStream"), an end-to-end supply chain management platform for the foodservice industry, announced that it will release a major enhancement to its Contract Management solution that will simplify and accelerate the task of contract and price data management for restaurant chain operators and foodservice suppliers.
As a central repository for supplier pricing agreements, ArrowStream's Contract Management solution powers a suite of spend and price analysis tools and exception driven alerts that enables teams to prevent pricing errors and discrepancies, proactively manage expiring pricing, identify opportunities to optimize spend, and automate price collection and communication with partners.
"At the very least, adding and updating contracts should be simple and not consume your day. With ArrowStream, our team benefits from a simplified process plus improves our ability to be proactive and strategic about managing contracts," said Ginny Michaels, director program management at SMS Cooperative, who provide exclusive supply chain services for Popeyes Louisiana Chicken. "In the end, we reduce our costs, optimize our spend, and save time, all from one place."
When used in conjunction with its Supplier Price Entry capability, restaurant chain operators can reduce the time they spend managing contract pricing by up to 75 percent, while supporting far greater accuracy and component-level visibility.
New enhancements will allow users to simplify supplier contract and data management through a modern and intuitive interface that includes improved automation of administrative tasks to speed up often redundant and cumbersome processes for supply chain teams and their partners. Key features include a guided interface when adding new contracts, tailored views to see only what you need to see, and multi-level price entry to minimize keystrokes based on the complexity of the given contract.
"Managing contracts can be a time-consuming process and supply chain teams can't afford to waste a minute of time in today's environment," said Bill Michalski, chief product officer at ArrowStream. "Restaurant supply chain teams have been achieving the impossible during the past year, and this launch represents one way we can give them hours back in their day. Our platform manages at least 15,000 active-price contracts at any given time across hundreds of restaurant chains, with over 600 suppliers actively assisting them in direct price management via our platform. We have applied all of the experience and feedback of that community into a solution that will materially elevate our customers' ability to run their business more efficiently, more accurately, and more profitably."
Over 250 restaurant chains, 1,000 DC locations and 8,000 foodservice suppliers rely on ArrowStream's platform, including International Dairy Queen, Mendocino Farms Sandwich Market, Huddle House and Perkins Restaurants, PFG, Ben E. Keith, and Domino Foods, among others.
For supply chain partners who want to learn more, contact ArrowStream's expert team.