Blog Posts Archives - Source1 Purchasing

5 Things to Consider When Selecting Products for Your Hotel Pantry

June 24, 2020 | Lodging | 0 comments

Traditionally, the pantry has been a resource to meet the needs of guests when they are looking for a light snack or quick meal. However, due to recent restrictions caused by COVID-19, the pantry has become a much more integral part of a hotel’s day-to-day operations....

How to Reduce Transaction Costs

March 9, 2020 | Procurement Services Companies | 0 comments

As is common knowledge in business, transaction costs are expenses incurred when buying or selling goods or services. These are associated with the work required to bring goods or services to market. Irrespective of the size of business every hotel must choose between...

Successfully Reducing Waste In Hotels – And How You Can Make A Change In Yours

February 25, 2020 | Procurement Services Companies | 0 comments

Successfully Reducing Waste In Hotels – And How You Can Make A Change In Yours The world generates a whopping 3.5 million tons of plastic and other solid wastes each day, and reducing that number is a primary part of protecting the environment. However, when it...

A Purchasing Audit Can Save You Thousands of Dollars

February 10, 2020 | Procurement Services Companies | 0 comments

What Can a Purchasing Audit Do for You? A purchasing audit provides managers insight into the processes used to order products, highlights what products are purchased, displays the selection criteria used for each product and vendor, and outlines the procedures...

The Difference Between Cost vs Price

January 16, 2020 | Procurement Services Companies | 0 comments

“Don’t think of cost. Think of value.” – John Spence A smart manager understands that cost of a product is not the same as the price the company will eventually pay for it. This is about understanding the fine line between quality and value offered vs. the money...

4 Tips for Lowering Food Purchasing Costs

December 19, 2019 | Procurement Services Companies | 0 comments

In the catering industry, you know there are many different expenses that can quickly cut into your budget. While there are some corners you should never cut, there are a few tips we can offer that should help with lowering food costs and add some breathing room to...