iTradeNetwork, Inc. (ITN), the leading global provider of on-demand supply chain management and intelligence solutions to the food industry, today announced the signing of a multi-year contract with the European Independent Purchasing Company Limited (EIPC) – a European SUBWAY® franchisee-owned purchasing and supply management organization. Using ITN’s Spend Management solution, EIPC will be able to identify SKU and manufacturer optimization opportunities and compliance problems while also helping to uncover new saving opportunities for their more than 2,000 SUBWAY® stores in the EU.
“A significant area where we are working to improve practices for SUBWAY® franchisees in Europe is within purchasing and supply chain management with a special focus on managing the distribution channel,” said Ben Fricke, Commercial Director for EIPC. “Using ITN’s services, we can manage contract compliance between distributors and stores to analyze total system-wide purchases for more effective contract negotiations. As the SUBWAY® chain’s purchasing volumes increase, the value of world-class information systems allows us to identify and realize savings for franchisees. We expect to generate significant cost-savings on the money that SUBWAY® stores spend on food.”
This agreement also comes at a pivotal time for the SUBWAY® chain as the company continues its explosive growth, having opened hundreds of new stores across Europe.
“For more than ten years, ITN has been helping leading food companies manage costs and grow their businesses more effectively,” said Rob Bonavito, CEO of ITN. “Our partnership with EIPC to support the SUBWAY® stores in the UK and EU validates the effectiveness of our solutions on a global scale.”
About European Independent Purchasing Company (EIPC)
EIPC (European Independent Purchasing Company) is a SUBWAY® franchisee-owned purchasing and supply chain management organization that works on behalf of SUBWAY® franchisees in the markets throughout Europe. EIPC’s mission is to negotiate the lowest cost for purchased goods and services, improve quality, enhance competitiveness and ensure the best value to SUBWAY® franchisees.
About the SUBWAY® Chain
The SUBWAY® chain is the world’s largest submarine sandwich franchise, with over 30,000 locations in over 87 countries. In 2009, the SUBWAY® chain was ranked the number one franchise opportunity by Entrepreneur Magazine. Headquartered in Milford, Connecticut, SUBWAY® was co-founded by Fred DeLuca and Dr. Peter Buck in 1965. That partnership marked the beginning of a remarkable journey, which has made it possible for thousands of individuals to build and succeed in their own business. SUBWAY® is a registered trademark of Doctor’s Associates, Inc. For more information about the SUBWAY® chain please visit www.subway.co.uk
About iTradeNetwork, Inc.
iTradeNetwork, Inc. is the leading global provider of on-demand supply chain management and intelligence solutions to the retail, hospitality and foodservice industries. Built upon deep industry expertise, a rich data foundation and our industries’ most extensive trading partner network, ITN’s collaborative solutions allow distributors, manufacturers, operators retailers, suppliers and wholesalers of all sizes to reduce cost, grow revenue and strengthen trading partner relationships. Today, ITN’s growing customer list includes over 5,500 global companies. For more information, visit www.itradenetwork.com .