Five ways to eliminate surplus cost ahead of your students’ return

As the prospect of moving to a post-COVID world becomes more prominent, it’s important to maximise planning time during these enforced closures.

We understand that higher education will be facing numerous challenges in the current climate – largely thanks to learning becoming completely digitalised. You’re probably also seeing a rise in the number of students requesting rebates for accommodation they have not been using, paired with the challenges of supporting those struggling financially this lockdown, not to mention the ongoing worry of demand for PPE and heightened safety measures.

But there is light at the end of the tunnel. The government has already stated that, post-lockdown, a priority of theirs will be getting students back into education, giving universities and colleges a much-needed financial catalyst after the challenges of the last year.

Still, it is crucial that costs are driven down in all areas to bounce back quickly, strongly and effectively – and reviewing your current supply chain is a great place to start.

Here are 5 ways Foodbuy can support you in driving down cost:

1) Purchasing power 

Leveraging £1billion worth of annual spend, with total category management across food, beverages, retail and non-food, we have long-standing relationships with manufacturers and wholesale distribution partners, working hard to mitigate pricing fluctuations as a result of changes within the market. Due to our size and scale, we work strategically with suppliers to ensure continuity of supply – whilst never compromising on quality.

2) Supply chain stability 

Our cross-sector expertise means our supply chains are still going strong across multiple industries such as healthcare, defence, infrastructure sites – to name a few – meaning we can maintain strong pricing and supply. Working with two of the largest collegiate universities in the UK, Oxford and Cambridge, we have hands on experience of suppliers, procedures and solutions for education, ready to assist you with your supply chain too!

3) Transparency

Students will be looking closely at their moral compasses, only wanting to buy from brands they can trust. Social enterprise, SMEs, local suppliers, British farmers and growers will be at the forefront of student’s minds and your offer needs to reflect this mentality. Plus, today’s generation feel they have a larger environmental and social responsibility than the previous generation.

94% of consumers are likely to be loyal to a brand that offers complete transparency

50% of Gen Z’s report that knowing a brand is socially conscious influences their purchasing decisions.

4) Safety and sanitation

Our continuing work with NHS Trusts and other clients who have remained open throughout national lockdowns gives us a real advantage when it comes to sourcing PPE and other safety equipment, both to a high standard and at a competitive price. We are proud of our knowledge and expertise within this area, ultimately resulting in the safety of clients and their students, with our non-food provision supplier relationships just as strong and long-standing as with our food and beverage suppliers. 

5) Data is king

Thanks to our market-leading and easy-to-integrate systems, we can reduce the cost impact of administrative time, allowing your staff to continue to deliver a fantastic student experience. Our three-way match module means you will only ever pay for what is received cutting down on overpayments – savings from this go straight back to your bottom line. What’s more, with the advent of Natasha’s Law in October 2021, now’s never been a better time to get your data in order.

Find out more about these systems and their benefits: https://www.foodbuy.co.uk/what-we-do/bespoke-smart/e-procurement-systems/

Like you, we can’t wait to welcome students back to universities and colleges, but in the meantime want to support you with driving down costs, strengthening your supply chain and getting ready to emerge into the post-COVID world.

To explore a partnership with Foodbuy, click here or connect with Charlie Hudson via LinkedIn to start the conversation!