Procuring Your Proprietary Product- Part 5

July 23rd, 2019

How You CAN Take Your Proprietary Product Out To Market.

 

 

Today’s post is written by Heather Powell, Director of Major Accounts and Special Projects at SafeSourcing Inc.

Reminder of what proprietary foods are: those which are not standardized under regulations and may contain primary ingredients and some generic additives. For examples, energy drinks and custard powder which contain starch, dextrose, flavor and color. These foods can be made from milk or milk products, from carbohydrates, with or without a basis of milk, from meat, fish, or eggs, from vegetables, fruits, or nuts, and sometimes from fatty substances.1

So why would you expose your proprietary food item to potentially be copied or even the recipe stolen?

You will have the opportunity to grow your business, your bottom line, and depending on how hands on you are with your product will be added time. Some people have the opportunity to take out parts of their proprietary recipe to bid. What are the most expensive items you purchase to make your product? Are there items that have pricing tied to a market index? Do you just go to a wholesale club or foodservice provider for your ingredients?

Looking at your spend and looking at your savings opportunity may open the opportunities for you to engage suppliers in a bid. In many summer salads, mayonnaise is a key ingredient. Do you have a flavor profile preference? Do you prefer a specific brand? Did you know that you can take your specific requirement to bid? Many of the major manufactures of mayonnaise have participated in online request for quotes through SafeSourcing and our clients have received an average of 20% savings from their preferred brand or flavor profile of mayonnaise.

Determine your item(s) you want to take to market and the volume or quantities you will need, be prepared to have the discussion of a 1-year agreement with no price increases versus a 2- year agreement with an index escalator/de-escalator percentage added. You will also need to provide current pricing, purchase history, invoices, or past contracts to your e-procurement company. Where do you store your item(s)? How often is it shipped to your location? Is freight included or added to your pricing? All of these details will make sure your needs, wants, and expectations are met throughout the process.

In the final part, part six of this series, the author will provide the details of why it is important to test and sample the proprietary product before signing that final contract. Meanwhile, SafeSourcing can assist you in exploring your procurement solutions for your proprietary product on our “Risk Free” trial program for RFPs and RFQs, please contact a SafeSourcing Customer Service Representative.  We have an entire customer services team waiting to assist you today.

We look forward to your comments.

References:

  1. www.quora.com/What-is-proprietary-food
If you thought this page is useful to your friend, use this form to send.
Friend Email
Enter your message

9 Responses to “Procuring Your Proprietary Product- Part 5”

  1. Delia Wins says:

    A further issue is really that video gaming became one of the all-time biggest forms of excitement for people of various age groups. Kids enjoy video games, plus adults do, too. The particular XBox 360 is among the favorite video games systems for folks who love to have a lot of video games available to them, and who like to learn live with other individuals all over the world. Thank you for sharing your ideas.

  2. Ayana Edler says:

    Hi, i think that i saw you visited my weblog thus i came to “return the favor”.I am attempting to find things to enhance my site!I suppose its ok to use a few of your ideas!!

  3. efomarrkvv says:

    qjizSD xemxljckwyvd, [url=http://zxryqfglexnw.com/]zxryqfglexnw[/url], [link=http://bfixbopzkolm.com/]bfixbopzkolm[/link], http://umsljcjzmcjn.com/

  4. Nedra Larke says:

    This is the right web site for everyone who really wants to understand this topic. You know a whole lot its almost tough to argue with you (not that I actually will need to…HaHa). You certainly put a brand new spin on a subject that’s been discussed for ages. Great stuff, just excellent!

  5. Alyson Hawse says:

    I blog quite often and I genuinely thank you for your information. The article has really peaked my interest. I will take a note of your website and keep checking for new details about once a week. I subscribed to your Feed as well.

  6. Ona Wegge says:

    Greetings! Very helpful advice in this particular article! It is the little changes which will make the most important changes. Many thanks for sharing!

  7. Thanks for the post, how can I make is so that I receive an email when you publish a new article?

  8. gzgbmw says:

    uKv03E zrvkxyxlrcse, [url=http://gzngzdlkdvbq.com/]gzngzdlkdvbq[/url], [link=http://pgotihmvkylv.com/]pgotihmvkylv[/link], http://nxvsdflyvrkw.com/

  9. Bert Toni says:

    Thanks a bunch for sharing this with all folks you really know what you are speaking about! Bookmarked. Please also seek advice from my website =). We could have a hyperlink exchange arrangement among us!

Leave a Reply

You must be logged in to post a comment.