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Home»Associations»From Inventory To QC, India Is Future-Ready With Procurements Using AI and Block Chain
Associations

From Inventory To QC, India Is Future-Ready With Procurements Using AI and Block Chain

adminBy adminFebruary 27, 2025No Comments6 Mins Read0 Views
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U. Bharath (cbedit@imaws.org)

Dr Nitin Shankar Nagrale, Founder and General secretary of Hospitality Purchase Managers Forum (HPMF), had been a pioneer in his chosen field. HPMF is one of the strongest and most impactful bodies in the hospitality sector both at the national and international levels, with its presence in 5 countries and 6000+ members.

Recipient of many awards for his outstanding contribution to the hospitality sector over the decades, including the Dr. Abdul Kalam Lifetime Achievement Award, Dr. Nagrale had built HPMF brick by brick since its inception in 2010 along with other co-founders. Some of the key elements of HPMF include the training and development of procurement professionals, industry product standardization, volume discounts, improved professionalism in the purchasing process, green initiatives, and CSR.

While speaking with Kitchen Herald, Dr. Nagrale discussed various aspects of hospitality procurement procedures and best practices and elaborated on the future arc the procurement procedures would evolve into.

Role of HPMF

While explaining the role of HPMF for the betterment of procurement practice, he said the forum has built a network of verified suppliers, making it easier for hospitality businesses to access trusted partners. Not only do we organize B2B meetings and buyer-supplier forums to foster direct and productive discussions, but we also conduct supplier evaluation programs to ensure continuous quality improvement. “Through trust, collaboration, and ethical partnerships, we have managed to create long-term value in hospitality procurement”, Dr. Nagrale noted.

Cost efficiency

While speaking more on the issue of cost efficiency, Dr. Nagrale said that the best procurement strategy must be a balance of cost, quality, reliability, and sustainability. “We rely on market intelligence, historical data, supplier benchmarking, and demand forecasting to optimize procurement. Timely supply is ensured by diversifying supplier sources, maintaining strategic supplier partnerships, and leveraging technology-driven inventory planning,” he noted.

Procurement strategy

About the procurement strategy to ensure cost efficiency, he said HPMF facilitates bulk procurement opportunities to help hospitality businesses achieve cost efficiency. While providing members with real-time insights into market price fluctuations and supply chain trends, we also host industry discussions on procurement best practices, helping organizations fine-tune their strategies.

“By combining experience, analytics, and collaboration, we ensure that procurement is not just about cost-cutting but about strategic value creation”, Dr. Nagrale noted.

How to select suppliers?

When asked about the criteria used to evaluate and select suppliers, he observed that supplier selection is based on quality, consistency, compliance, and ethical practices.

We in HPMF assess suppliers based on the following criteria:

Reputation and past performance in the industry
Certifications and regulatory compliance (HACCP, ISO, FSSAI)
Sustainability initiatives (eco-friendly products, waste reduction)
Pricing and value-added services (logistics, after-sales support)

Dr. Nagrale noted that it requires transparency, regular engagement, and fair business practices to build strong professional relationships.

Inventory Management

When asked what systems or techniques are in place to track and manage inventory to prevent overstocking or shortages, Dr. Nagarale noted that we believe in data-driven inventory management. Some of the key techniques we use include:

ABC Analysis to classify inventory based on importance and consumption.
Just-in-Time (JIT) procurement to minimize storage costs and prevent wastage.
Technology-driven inventory tracking using ERP and AI-based forecasting.
Regular stock audits to align demand with supply.

Role played by HPMF:

HPMF will be collaborating with technology providers to educate members on smart inventory solutions.

We aim to offer workshops on automated inventory management systems for efficiency.

We are also determined to create benchmarking reports that will help hotels optimize their procurement cycles.

By leveraging technology and best practices, we ensure a balance between stock availability and cost control.

Quality control

Dr. Nagrale also elaborated on how HPMF is ensuring that purchased products and services consistently meet quality standards.

Quality assurance starts with stringent supplier selection and regular quality checks. We do emphasize the following things:

Pre-purchase product testing to verify quality standards.
Defined SLAs (Service Level Agreements) with suppliers to ensure accountability.
Routine inspections and guest feedback monitoring to refine procurement choices.

Role of HPMF:

Soon, we will be conducting product sampling and quality verification programs for members.
We will facilitate supplier audits and certification programs to ensure high standards.
We provide a platform for procurement professionals to share experiences and discuss quality concerns.

A strong quality-focused procurement strategy is essential to maintain customer satisfaction and brand reputation.

Compliance with laws

On various steps taken to ensure compliance with laws, health & safety regulations, and industry standards, Dr. Nagrale said that we ensure that all industry regulations are followed strictly:

Compliance with FSSAI, HACCP, ISO, and local labor laws.
Vendor audits to confirm legal and safety compliance.
Partnering with suppliers who follow ethical labor and sustainable sourcing

On Role played by HPMF:

HPMF provides legal awareness through digital media platforms for procurement professionals.
We work closely with regulatory bodies to keep the industry updated on new laws.
We encourage eco-friendly and ethical sourcing initiatives through knowledge-sharing forums.

By promoting compliance, safety, and sustainability, we contribute to a responsible hospitality ecosystem.

Future-ready procurement strategies

When asked to respond on how HPMF adapt procurement strategies to meet future industry trends and challenges, Dr. Nagrale said that the hospitality industry is evolving with technology, sustainability, and changing guest preferences. To stay ahead, I focus on:

Adopting AI, blockchain, and automation in procurement processes.
Sourcing sustainable and locally produced goods to align with eco-friendly initiatives.
Building resilient supply chains that can withstand market fluctuations and disruptions.

Road ahead for HPMF:

We conduct research and trend analysis to educate members about future-ready procurement strategies.

We organize conferences and knowledge summits to discuss innovations in procurement and supply chain.

We have already created a community where members can exchange ideas and best practices for evolving market needs.

“Procurement is a strategic function that directly impacts cost control, quality, and customer experience in hospitality. My approach, combined with HPMF’s initiatives, ensures we enhance procurement excellence, promote sustainability, and build stronger industry networks.”, he added.

“At HPMF, we are committed to knowledge-sharing, industry collaboration, and empowering procurement professionals to create a more efficient and sustainable hospitality sector”, Dr. Nagrale noted.

#HospitalityIndustry #HPMF #procurement #Nitin Nagrale #procurement strategy #procurement manager
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