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Luby's Eyes Spend Management to Improve Supply Chain Visibility, Drive Savings
Restaurant chain looks to support aggressive growth with Instill's spend visibility solutions; iTradeNetwork, Instill merge to link retail and foodservice channels
San Mateo, CA — April 18, 2008 — Restaurant chain Luby's has selected a spend management solution from Instill as part of an effort to gain greater supply chain visibility and help support the company's aggressive growth plans.
Instill, meanwhile, announced that it was merging with iTradeNetwork to create an organization that can offer solutions to both the retail and foodservice channels.
Luby's Gets Ready for Growth
"Instill is a critical component in our initiatives to build scalable systems and processes that support our strategic growth plan over the next five years," said Janet Duckham, vice president of operations services for Luby's. "We have a lot on our plates preparing for growth, and we needed a trusted partner who would add value right away with minimal effort on our part. Instill got us up and running in just six weeks."
Instill said that its Spend Management solution automates the collection and standardization of unit purchase information from distributors, identifies contract price variances, SKU and manufacturer optimization opportunities, as well as compliance problems, and helps uncover new savings opportunities.
"Instill is committed to helping operators of all sizes and segments become more competitive in the face of rising food costs and increased consumer pressures," said Mike DeVries, head of Instill Corporation. "Instill delivers proven solutions to manage food costs enabling customers like Luby's to focus their resources against strategic growth initiatives."
Instill Links with iTradeNetwork
Meanwhile, Instill announced last week with that it was merging with iTradeNetwork (ITN), a privately held technology provider of on-demand e-business solutions for the food industry.
The two companies said that the combined organization would create the food industry's top supply chain network and would be capable of delivering supply chain solutions to both the retail and foodservice channels.
"Customers of the merged companies will now experience the expanded suite of solutions and analytical tools required to reduce food costs, increase operating margins, identify new revenue opportunities and collaborate with all supply chain trading partners," the two enablers said in a statement on their merger.
Under the terms of the transaction, Robert Bonavito, founder and CEO of iTradeNetwork, will serve as CEO of the combined companies. Instill will operate as a separate division of iTradeNetwork. Both companies will retain their senior leadership teams.
Instill, meanwhile, announced that it was merging with iTradeNetwork to create an organization that can offer solutions to both the retail and foodservice channels.
Luby's Gets Ready for Growth
"Instill is a critical component in our initiatives to build scalable systems and processes that support our strategic growth plan over the next five years," said Janet Duckham, vice president of operations services for Luby's. "We have a lot on our plates preparing for growth, and we needed a trusted partner who would add value right away with minimal effort on our part. Instill got us up and running in just six weeks."
Instill said that its Spend Management solution automates the collection and standardization of unit purchase information from distributors, identifies contract price variances, SKU and manufacturer optimization opportunities, as well as compliance problems, and helps uncover new savings opportunities.
"Instill is committed to helping operators of all sizes and segments become more competitive in the face of rising food costs and increased consumer pressures," said Mike DeVries, head of Instill Corporation. "Instill delivers proven solutions to manage food costs enabling customers like Luby's to focus their resources against strategic growth initiatives."
Instill Links with iTradeNetwork
Meanwhile, Instill announced last week with that it was merging with iTradeNetwork (ITN), a privately held technology provider of on-demand e-business solutions for the food industry.
The two companies said that the combined organization would create the food industry's top supply chain network and would be capable of delivering supply chain solutions to both the retail and foodservice channels.
"Customers of the merged companies will now experience the expanded suite of solutions and analytical tools required to reduce food costs, increase operating margins, identify new revenue opportunities and collaborate with all supply chain trading partners," the two enablers said in a statement on their merger.
Under the terms of the transaction, Robert Bonavito, founder and CEO of iTradeNetwork, will serve as CEO of the combined companies. Instill will operate as a separate division of iTradeNetwork. Both companies will retain their senior leadership teams.
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