Solution Tracks, Manages, and Optimizes Spend Enabling Rapid Growth
PLEASANTON, CA. - November 17, 2008
iTradeNetwork
(ITN), the leading global provider of on-demand supply chain management
and intelligence solutions to the food industry, recently announced the
signing of a three-year contract with Food Buyers Network (FBN). ITN's
Spend Management solution will automate the collection and
standardization of FBN's unit purchase information from distributors.
Spend Management will also identify SKU and manufacturer optimization
opportunities and compliance problems while also helping to uncover new
saving opportunities for FBN members.
“As a
growing company, it is critical that we partner with companies like ITN
to provide immediate value to our clients," said Stuart Amoreill,
Managing Director of Food Buyers Network. "FBN is focused on procuring
the best prices for the best products for our members. ITN's Spend
Management solution provides us with timely insight into member
purchases and increases our overall visibility, enabling us to more
closely focus on contract negotiations and membership growth."
As the emerging
industry leader in assisting independent and regional restaurant
companies of all sizes to operate more efficiently, FBN leverages its
extensive industry expertise and rapidly growing membership to achieve
food cost savings. As purchasing and cost savings consultants, FBN
utilizes its extensive knowledge to help clients control food costs
through better operational systems and procedures. Clients are able to
continue to work with their existing distributors and place orders
exactly as they have done in the past. ITN provides FBN with actionable
information, enabling FBN to quickly react and solve operational
inefficiencies.
"We are
pleased to be a part of Food Buyers Network's leading edge solution for
independent and regional chain restaurants," said Robert Bonavito, CEO
of ITN. "Our ability to provide a scalable foundation to support FBN's
aggressive growth plans addresses a critical segment of the operator
market. We look forward to FBN's continued success and our mutually
successful partnership."
About Food Buyers Network
Food Buyers Network, Inc., founded in 2008, is fast becoming known as
the industry's most innovative Food Cost Solutions and Procurement
Services Organization by combining education and consulting services
with the advantage of increased buying power through its member
network. FBN membership instantly levels the purchasing "playing field"
for independent and regional chain operations and allows food
purchasers to benefit from cost control programs and negotiated food,
paper and chemical product savings. Basic membership is free and
contract-free. For more information, visit foodbuyersnetwork.com
About iTradeNetwork Inc
iTradeNetwork Inc. is the leading global provider of on-demand supply
chain management and intelligence solutions to the food industry. Built
upon deep industry expertise, a rich data foundation and the industry's
most extensive trading partner network, ITN's collaborative solutions
allow distributors, manufacturers, operators and retailers of all sizes
to reduce cost, grow revenue and strengthen trading partner
relationships. Today, ITN's growing customer list includes over 5,500
global companies such as Ben E. Keith, BidVest 3663, CKE Restaurants,
ConAgra Foods, Inc., General Mills, Kroger, Independent Purchasing
Cooperative (IPC) for SUBWAY®, Intercontinental Hotels, PFG, Safeway,
Sodexo, SYSCO and UniPro. ITN has offices in Pleasanton and San Mateo,
California, Boise, Idaho and Burton and Stokenchurch, Great Britain.
For more information, visit itradenetwork.com
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