Leading Foodservice Cloud Platform Provider Launches Item Specific Forecasting Solution for More Precise Pricing Predictions
CHICAGO – April 8, 2024 – ArrowStream, Inc. (“ArrowStream”), the leading provider of supply chain intelligence for the foodservice industry, today unveiled CommodityONE Market Basket, an innovative new solution that transforms food cost prediction and management.
In an industry with volatile market conditions and unpredictable price swings, Market Basket empowers foodservice operators to take control. Building upon the well-established success of ArrowStream’s CommodityONE forecasting solution, which provides detailed forecasts for over 250 markets, Market Basket represents the next generation of food cost management. It leverages the extensive commodity intelligence resources of CommodityONE, combined with an operator’s historical pricing data to deliver cost modeling by item, year-over-year insights, and market trend data to make informed decisions.
Market Basket offers item-level precision, providing product-specific price forecasts that enable confident planning and budgeting even in unpredictable market conditions. Moreover, it equips foodservice operators with year-over-year insights, enabling them to anticipate both inflationary and deflationary trends. This proactive approach allows for preparation of cost fluctuations and optimization of pricing strategies.
“We’re constantly looking for opportunities to optimize our food costs and streamline procurement processes,” said James Leung, Director of Procurement at California Pizza Kitchen. “CommodityONE Market Basket is a game-changer. By combining ArrowStream’s extensive market data with our own purchasing information, we can gain a much more customized view of how price fluctuations will impact our specific menu items. This will not only save us countless hours of manual forecasting, but also empowers us to make data-driven decisions that maximize profitability.”
With a proven track record of supporting over $38 billion in operator spend, ArrowStream understands the challenges of the foodservice industry. Market Basket facilitates data-driven decision-making by empowering operators to make informed choices that drive profitability. By mitigating the impact of inflation, capitalizing on deflation, optimizing menus, and fostering trust with franchisees through data transparency, operators can maintain a competitive edge in today’s ever-changing foodservice landscape.
“In today’s dynamic foodservice market, managing food costs effectively is paramount to success,” said Matt Heckroth, VP of Product Management at ArrowStream. “CommodityONE Market Basket equips our customers with the critical insights they need to navigate market fluctuations with confidence, make informed decisions, and gain a significant competitive edge.”
CommodityONE Market Basket exemplifies ArrowStream’s ongoing commitment to rethinking foodservice supply chain management. It supports analysts, and purchasing and procurement teams, in and adjacent to, foodservice to mitigate price risks. To learn more about ArrowStream and CommodityONE, please visit arrowstream.com, or contact ArrowStream’s expert team for a one-on-one consultation.
About ArrowStream
ArrowStream, a Buyers Edge company, is the leading foodservice cloud platform for supply chain intelligence, with over 1,300 distribution locations, 11,000 manufacturers, and 300 leading brands across 105,000 restaurant locations tightly integrated into a single global network of applications and industry data. ArrowStream provides unparalleled levels of transparency, control, and actionable insight to mitigate risks, streamline operations, protect the brand, and optimize profitability. Find out more at www.arrowstream.com.
Media Contact
Joe Ferrell: JFerrell@ArrowStream.com
