GPO Hot Topic: Manage soaring beef prices with the help of Entegra

Beef prices continue to rise as cattle inventory continues to decrease.

The Entegra Cost Outlook includes quarterly prices and forecasts for beef as well poultry, fish, pork, vegetables, grains, fuel and more. The Cost Outlook is now available to download for free.

Take action to optimize your beef buys

“The cutting process has been rigorous, detailed and comprehensive. It has been critical to pursue this endeavor with our partners at Entegra, and their culinary leadership has made our decisions resolute and complete.” -Olivier Gaupin Corporate Executive Chef

“With several critical ingredients on the rise, including beef, 2024 is a good time to look at menu engineering,” says Chef John Csukor, Entegra’s Head of Culinary.

Did you know that Entegra offers food service consultation from tenured culinary experts?

Every Entegra client can access the following advisory services as part of an Entegra engagement. Services include:

• Product cutting: What is it?
  Product cutting is a process Entegra uses to help determine the best overall value for your needs by reviewing several products in the same category.
  
  Product cutting in action
  View and assess a four-ounce ribeye from several purveyors at once. Are they uniformly shaped? What percentage of the protein is fat? What are the per case comparisons?
• Product matching: What is it?
  Product matching helps clients save money and, in many cases, raise quality by reviewing current spend to match on-contract items.
  
  Product matching in action:
  ​For example, if your customers love your prime-grade burgers, you need to remain consistent on quality and flavor. Knowing that premium quality is paramount, the Entegra Value Analysis team will find and present money-saving, Entegra-contracted options for your consideration that meet – or exceed – your standards.

You can also take advantage of menu development and ideation, menu pricing engineering and more. Find out more from your National Account Executive or reach out to one of our advisors at CallCenterUSA@entegraPS.com or 1-855-ENTEGRA.

Here are some beef cost-cutting measures you may want to consider:

• A trio of steak cuts — mix a few ounces of sirloin, tenderloin and ribeye—for better customer value that still keeps satisfaction levels high
• Off-cuts for tasty, trendy appetizers — add caramelized onions and tomato to thinly sliced tenderloin atop flat breads for a shareable, low-cost starter.
• Substitutions — Swap beef with lower cost chicken or pork. For example, consider a Hawaiian Luau burger that includes 75% turkey, 25% pork mix. Angle the menu descriptor towards the nutritional value of turkey, spiked with the flavor of high-quality pork.

Get more food-related inflation reporting in Cost Outlook

“We continue to operate in an inflationary environment,” says David Kourie, Chief Purchasing Officer and Senior Vice President, Supply Management for Entegra. No stranger to supply chain challenges, Kourie encourages Entegra clients to use the Entegra Cost Outlook to “pivot and adjust” to actively manage bottom lines.

Interested in exploring cost-cutting culinary services? Call us at 833-977-1765 or contact us to get more information about putting Entegra’s purchasing power and business performance improvement solutions to work for you.

Sources:
Beef prices are at record highs – how much pricier will your steak get?
Meat prices up, down as grilling season kicks off - AgriLife Today (tamu.edu)