COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--FSIC, the premier technology-enabled restaurant supply chain visibility solution, announced today that Restaurants Unlimited, Inc. (RUI), a Seattle-based restaurant group, signed a four-year extension of their partnership. RUI was FSIC’s first client and is its longest-tenured partner, with the two companies enjoying a 16-year relationship to date.
RUI first reached out to FSIC in 2001 when seeking visibility to better manage its supply chain. RUI has 20 brands, including Henry’s Tavern, Kincaid’s, Palomino and Portland City Grill, which were purchasing disparate items. The company sought to reduce the number of products purchased across their brands and restaurants to reduce costs.
“Initially, our purchasing department had too many SKUs that were not cost effective or efficient,” said Jim Eschweiler, President & CEO of Restaurants Unlimited, Inc. “FSIC helped consolidate and leverage our purchasing power by combining SKUs. They are a vital extension of our supply chain department and bring high-level talent and expertise across a variety of supply chain functions.”
Through its proprietary IntelliSpendTM software, FSIC audits distributor invoices for product and price compliance. FSIC ensures that contracts are being executed properly by distributors, communicates products out of spec and negotiates credits with distributors when restitution is due as well as negotiates contracts with manufacturers.
FSIC monitors every aspect of RUI’s supply chain, including specialty distributors, providing insight that RUI was unable to achieve with prior vendors. Together, examples of the partnership’s results include:
- RUI continues to hold low COGS despite its complexity and geographic diversity.
- Increased products under contract from 7% to 80%.
- Annual rebates FSIC negotiated with distributors and manufacturers continue to be material to the business.
“We are proud to have maintained such a long, productive relationship with RUI, and are thrilled to continue to support them in their ongoing success,” said Jerry Wilhite, President and CEO of FSIC. “We are a relationship business, with a team of expert resources providing RUI with additional supply chain visibility and management. Our IntelliSpend software provides visibility and a single source of truth as to what is happening in their supply chain. Our long-standing relationship demonstrates the need for resources such as ours. Restaurant groups today just don’t have the time to load and analyze data. We can provide all of those services, and at a much lower cost than they could achieve in-house.”
“FSIC ensures the health of our business, and provides transparency that we have yet to find from another company,” said James Miller, EVP of RUI. “We don’t see FSIC as a consultant. It is a vital partner for our supply chain and critical to our success.”
FSIC is a professional services company that currently works with more than 150 restaurant brands, utilizing experienced supply chain professionals and its own proprietary technology, IntelliSpend™ to help improve purchasing and reduce cost of goods. FSIC brings clarity to the buying process from manufacturer through distributor to the operator, via the utilization of their proven technology to assist clients in purchasing the exact products needed to operate their businesses at the least possible cost. For more information, please visit http://fsici.com, or on social media on Facebook @FSICI, Twitter @FSICI and LinkedIn @FSIC, Inc.
About Restaurants Unlimited, Inc.
Since opening its first restaurant in 1969, Restaurants Unlimited, Inc. (RUI) has brought its talent for bringing the finest food to some of the best possible locations across the nation. RUI operates 20 different restaurant brands in 45 locations throughout the U.S. Unique concepts include Portland City Grill, Manzana Grill, Palisade, Cutters Crabhouse and Skates on the Bay. Multi-unit brands include Stanford's, Henry's Tavern, Kincaid's, Palomino Restaurant & Bar and Portland Seafood Company. The restaurants are located in 10 states, including Alaska and Hawaii. RUI is headquartered in Seattle and owned by private equity firm Sun Capital Partners. Additional details are available at www.restaurantsunlimited.com.