How can MarketMan help me negotiate with my suppliers/vendors
Below are some helpful tips and tools MarketMan can provide to ensure you're getting the best prices from your suppliers!
On the orders screen
When placing orders through MarketMan, the lowest price supplier will automatically be listed in green, always showing you the best deal!
On the place orders screen, click the + icon to show different supplier and pack size options. MarketMan will list all buying options and automatically calculate the best value for you.
This feature allows you to see all buying options and ensure you're getting the best price!
The irregular price report will collect all price fluctuations from recent invoices. It's important to check and update this report weekly to ensure you have the most up-to-date price listed for each item.
Here you can monitor any changes since the last purchase and catch any discrepancies in negotiated price points.
Extra Tips: Turn on Automatic Price Update for your suppliers to instantly update prices once your invoices are received. You can still see all changes on the irregular price report, but this will save you time from updating manually
Price Change Report
The Price Change Report graphs all price fluctuations in a given time period. This is a great tool to bring to your suppliers when negotiating prices to compare year-over-year seasonal pricing.
Purchase By Item Report
The purchase by item report is a great way to determine your buying patterns and the prices. This can be a great way to consolidate orders and save by ordering in bulk.
Tips from the experts
Credits and returns- Establish a credit/return policy. Negotiate upfront a policy on returns and credits for damaged products, products not on the truck and items delivered that you didn't order.
These items can be a headache for your kitchen staff. Having a policy in place
Consolidate Your Vendors- We often love to shop around to multiple suppliers for the best price. While this does help with key items, sometimes placing larger orders with one supplier gives leveraging options on products. Suppliers love big orders! See if you can offer them a larger produce order in exchange for a lower price per pound on ground beef!
Make Early Payments- Many suppliers will offer discounts and rebates when you pay early! In the restaurant industry, it's easy for invoices to get lost or forgotten. Lucky for you, you have MarketMan! All of your invoices are organized for you already so why not try our payments platform? Never get another late fee again