Hospitality Procurement in a Nutshell
Hospitality procurement is a critical component of the hospitality industry, significantly impacting output, costs, and profitability. It focuses on acquiring products and services for restaurants, resorts, and hotels to deliver value to businesses and customers alike. Key aspects of hospitality procurement include contract negotiation, end-of-life management, end-of-life sourcing, and payment terms. Ensuring quality and cost efficiency is essential, especially for high-use items like chairs and frequently replaced appliances and fixtures.