31 C
Friday, September 24, 2021
HomeProcurementKey Considerations for Hotel Procurement Post Covid-19

Key Considerations for Hotel Procurement Post Covid-19

The hotel industry has specific needs which are different from other industries. There are many considerations and factors that stand out as priorities in order to achieve the consistency, flexibility and quality that guests expect when they are staying in your hotel.In hotel procurement, several responsibilities such as sourcing for materials, negotiating for contracts, payment terms and end of life management are fundamental to the job.

The hotel procurement function normally reports to the financial controller and is a part of the finance department. The most part goes unrecognised is that procurement costs result in cash flows for the hotel. In fact, if the function of acquisition is not managed adequately, the hotel ends up being susceptible to cash flows. This is done by negotiating payment terms with suppliers, and to build an effective supplier relationship.

The full content is only visible to SIPMM members

Already a member? Please Login to continue reading.

Jeremy Ng, DPSM
Jeremy Ng has substantive years of experience in the food, beverage and hotel industry, performing leadership roles leading and supporting project, operation and procurement management specialising in contracts, compliance management, sourcing and tendering process. He is a member of the Singapore Institute of Purchasing and Materials Management (SIPMM). He completed the Diploma in Procurement and Supply Management (DPSM) on June 2020 at SIPMM Institute.

Most Read