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As a hospitality brand, managing preferred vendors is crucial to ensure that your franchisees have access to the right products from the right suppliers. This helps maintain consistent brand standards and ensures that guests have a great experience, regardless of where they stay.
One way to streamline the vendor management process – and therefore a preapproved FF&E and OS&E list – is by using Fohlio, a comprehensive platform that provides a one-stop solution for design, procurement, and specification needs.
Fohlio makes it easy to create and manage your approved vendor list by providing a centralized platform where you can add, update, and track your preferred vendors and their respective FF & E and OS&E offerings.
The first step in managing preferred vendors is to create an approved vendor list. This list should include suppliers that meet your brand's quality standards, pricing requirements, and delivery timelines.
By creating an approved vendor list, you can ensure that your franchisees have access to a consistent range of products from trusted suppliers.
When creating an approved vendor list, there are several criteria that you’ll want to consider, like: compliance rate, quality of products, percentage of defects, and more. You can take a look at our guide for step-by-step instructions on how to build your list.
Learn more: Step Up Your Procurement Game with an Approved Vendor List
Once you have created your approved vendor list, the next step is to enforce brand guidelines that are specific to your vendors. These guidelines should outline the specific product specifications and design requirements that your vendors need to meet to ensure consistency across all your properties.
Having a template with very specific guidelines is a big help. Include details like color palettes, fabric, images, descriptions, and more.
Make this template easily accessible to all your stakeholders for easy reference and to keep everyone on the same page.
As an extra layer of quality assurance, you can have an assigned team member approve proposed FF&E and OS&E before making them available to hotel franchisees.
Another important aspect of managing preferred vendors is the ability to update vendor product lists and alternatives quickly. This ensures that your franchisees have access to the latest product offerings and can easily switch to alternative suppliers if necessary.
Fohlio provides a collaborative platform for designers, purchasers, and third-party team members, allowing you to update product lists and alternatives in real-time, ensuring that your franchisees always have access to the latest offerings.
You can invite all your collaborators to the platform, each with their own sets of permissions. That means vendors can be allowed to edit and update their own items but not see those of other suppliers, or view brand standards but not edit them.
Once you have your approved vendor list and approved products in one place, you can share this with franchisees. From here, they can easily select the necessary items from a pre-approved list – meaning there’s no need to painstakingly pick out FF&E and OS&E from a bigger list, or double check after selection.
By using Fohlio as your vendor and supplier management system, you can create a trusted vendor list that ensures your franchisees have access to the right products from the right suppliers. With a single source of truth for all design, procurement, and specification needs, you can enforce brand standards, lower procurement costs, and reduce delays. This makes it easy to make your guests feel at home and create memorable experiences wherever they travel, rest, work, and play.
In conclusion, managing preferred vendors is critical to maintaining brand standards and ensuring a consistent guest experience across all your properties. Fohlio provides a vendor management solution that helps streamline the vendor management process, allowing you to create an approved vendor list, enforce brand guidelines, and update vendor product lists and alternatives in a snap. With Fohlio, you can provide consistently superior and memorable experiences that represent your identity and values.
Learn how to:
- Save days of work with faster specification
- Create firm-wide design standards
- Automate and centralize procurement
- Keep your whole team on the same Page
- Manage product data
- Track budget against cost in real time.
- Prepare for asset valuation
Published Feb 16, 2023