TELL US ABOUT YOUR COMPANY

Sourcebite was formed to reduce food waste, which is a huge problem in Singapore. According to a study conducted by Singapore Environmental Council in 2019,  342,000 tonnes of food is lost before it even reaches consumers.

This food waste problem is excacerbated by the current repetitive and inefficient procurement processes in the F&B industry. Due to the lack of a central gathering system for fresh ingredients, there is a mismatch of information between suppliers and food outlets.

Sourcebite thus seeks to be a B2B smart agregator for food products that addresses fragmentation in the supplier base, efficently connecting trustworthy suppliers and clients. 

Our platform aims to increase ease of information access and transparency in the F&B industry. By easing the flow of procurement, Sourcebite hopes to reduce food waste, industry fragmentation and procurement costs, hence resulting in lower prices for the end-consumers.

HOW DOES SOURCEBITE AIM TO ACHIEVE HER GOALS?

For Sourcebite to achieve her goals, she requires the appropriate technological infrastructure.

Currently, her planned IT system consists of 4 components: a web application, a matching algorithm, a hedging algorithm and a customer relationship management system (CRMS). Of which, Sourcebite is presently focusing on the former 3.

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WHAT WERE SOME CHALLENGES YOU FACED WHEN LAUNCHING SOURCEBITE?

Customer acquisition remains one of our primary challenges as it takes time and effort to reach out to potential partners and communicate what we can do for them. 

CAN YOU SHARE WITH US A FEW STATISTICS ON THE IMPACT OF SOURCEBITE SINCE ITS LAUNCH?

Since its launch, Sourcebite has been able to achieve a 10% cost reduction for her clients and a 15% reduction in food waste for her suppliers.

SINCE THE LAUNCH OF SOURCEBITE, WHAT IS THE GENERAL RESPONSE FROM THE F&B INDUSTRY?

Overall, the general response from the F&B industry has been positive. We managed to onboard 12 clients and 10 suppliers such as Grand Hyatt and Tangs Marriot since our inception.

WHAT ARE SOME OF SOURCEBITE'S FUTURE PLANS?

Moving forward, Sourcebite intends to expand her network of clients and suppliers as well as upgrade her IT system to be able to handle more products.

IF WE ARE INTERESTED IN GETTING INVOLVED WITH SOURCEBITE, HOW DO WE GET STARTED?

If you are interested to engage our services for your F&B business, do visit us at https://www.sourcebite.com/ for more information.