CHICAGO (Oct. 29, 2009)—The 2nd Annual ArrowStream Foodservice Industry Survey from U.S. restaurateurs displays both optimism for their future earnings, as well as concern over inflationary trends in commodity and labor costs for the remainder of 2009.
Conducted in August, the online survey was completed by more than 50 restaurant chain executives including members of the ArrowStream Network of restaurant chains, distributors and manufacturers that moves almost 10 percent ($15 billion) of the products in the foodservice industry.
An additional 34 percent of restaurateurs expect almost the same profit levels as 2008, and only seven percent predict a gloomier outlook for 2009. Likewise nine percent of restaurant executives expect their supply chain budgets to fall in 2010 while almost 60 percent report a planned increase.
While operators are warily optimistic, they are undeniably clear about the need for improvement in supply chain operations and very open about the areas of most need including visibility and forecasting.
Revenue and traffic growth, rising commodity prices and labor costs were cited as the top three financial concerns
for 2009. In addition, When it comes to reducing operational costs, 77% of supply chain leaders see "freight cost visibility and accuracy" as the best way to achieve reductions. "Forecast accuracy," "reevaluating suppliers and manufacturing locations" and "supply chain visibility" were also all seen by a majority of respondents as important ways to reduce operational expenses.
For a free copy of the survey, please contact Laura Field at 312-961-5054 or firstname.lastname@example.org