6 minute read
WHAT’S NEW?
01 BOWMORE REVEALS BLACK WARRIO 02 ORKNEY’S J. GOW RUM RELEASE ‘REVENGE’ 03 BENRIACH KEEPS TRADITION ALIVE
Bowmore Islay Single Malt Scotch Whisky has unveiled the third release in its exclusive Chinese Mythical Guardians Series. Bowmore 38-year-old pays homage to the Black Warrior, a dominant figure in Chinese legend and a symbol of longevity, power and tenacity.
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With only 888 bottles available, this rare 38-yearold Bowmore expression invokes the traditions of yesterday to inspire the legends of tomorrow, resulting in a union of flavors both rich and delicately balanced. Meticulously crafted with incredible attention to detail – from the distillery manager’s selection of the finest casks to the striking embellishments on the bottle and box.
04 PERNOD RICARD INTRODUCE JAMESON ORANGE
Jameson Irish Whiskey has introduced a zesty new expression to its core range – Jameson Orange – combining ‘the finest triple-distilled Jameson Irish Whiskey infused with natural orange flavouring.’
Said Ian Peart, Commercial Director at Pernod Ricard UK, “With the popularity of flavoured spirits on the rise and Jameson continuing to fly in the UK, Jameson Orange is perfectly positioned to tap into this growing consumer opportunity.
Orkney distillery J. Gow Rum has just added a three-year-old cask aged pot still rum to its core range. ‘Revenge’ has been distilled in Orkney and then aged in ex-bourbon and virgin oak casks for three years. This is the minimum time a whisky must be aged before it is legally allowed to be called a whisky.
Said distillery owner Collin Van Schayk, “Everything is done on site; from distilling to cask storage to bottling. It’s a tight space but the location is amazing and I love what I do.
05 BENROMACH RELEASES LIMITED EDITION PEAT SMOKE SHERRY 06 BERRY BROS. & RUDD LAUNCHES NEW SPIRITS RANGE
Benromach Distillery in Speyside has launched a new limited edition single malt, Benromach Peat Smoke Sherry Cask Matured, with fewer than 2,000 bottles available in the UK.
Keith Cruickshank, Distillery Manager at Benromach, said, “This small batch vintage expression has been created in a style which is deliberately different to the subtle smokiness Benromach is well-known for. This is only the second time we’ve released a heavily sherried peat smoke expression and we’re very proud of its unique flavour profile.”
Berry Bros. & Rudd has revealed its Summer 2021 spirit range in a new, unique bottle supported by a new ad campaign – Since 1698 - that captures the ‘aspirational world of London’s style and elegance.’
The new bottle is to be used across the entire Berry Bros. & Rudd Spirits portfolio, the labels tailored to the needs of the drinkers with different levels of details as customers move through the price range.
The Summer Release 2021 will be the first to use the new bottle, and then all others in range will follow.I
Celebrating traditional methods dating back to the earliest days of Benriach Distillery, Benriach Malting Season will be the first expression in a century to be produced entirely using barley malted from the Speyside distillery’s historic floor maltings. Said Stewart Buchanan, Global Brand Ambassador at Benriach, “Passed from distiller to distiller throughout the generations, the floor malting process keeps a traditional part of the whisky making process alive with Benriach being one of only seven distilleries in Scotland to continue the practice of floor malting. Distilling spirit from barley malted here on site is a true labour of love and something we are passionate about keeping alive here at Benriach as an ode to our creative whisky making heritage.”
Some great new offerings to let your guests try.
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MANAGING THE TAIL SPEND
Alastair Roy of Aro Procurement takes a look at how you can manage your Tail Spend
What is tail spend? A general definition is small value purchases that are not sufficiently significant to be managed as part of a procurement process, such as a tender. Other connected terms would include maverick or rogue spend, tail of tail and head of tail spend and in many hospitality organisations the ratio of 20% spend with 80% of suppliers would apply to this spend category. When the main procurement focus is typically on adding value and creating savings on 80% spend across 20% of suppliers, it can be easy to overlook a relatively substantial overall amount of spend, diluted amongst a large number of suppliers.
There are usually always valid business reasons for low value tail spend transactions which may include emergency orders or buying items to speed up a process or to facilitate a guest request. However, purchasing the item is the easy part, locating it when it is delivered, reconciling invoices and tracking back why it was purchased in the first place can result in endless frustration and wasted productivity. In addition, if the item is not compliant with company standards, further risk exposures may result. It would be much better to find a way of embedding more tail spend items within managed contracts to improve control.
Ways in which you can manage tail spend more effectively include:
Review annual spend data from the purchase ledger and categorise the 20% tail spend to determine which products can be purchased from existing suppliers.
Aggregate as many spend lines as possible and find ways of buying the items as part of a managed contract.
Provide clear guidelines on what valve can be spent and with which suppliers and introduce a purchase approval mechanism.
Ensure team members are clear on the risk before making a purchase.
Head of tail spend is the top end of the 20% and because the individual transactions seem trivial, they are not always properly scrutinised. The tail of tail spend is where lots of opportunity exists to consolidate and reduce the number of suppliers. Credit card purchases should also be reviewed for tail spend with the focus on switching the spend to a managed contract with credit terms.
Rogue/maverick spend is not necessarily low value but it is spend which has not gone through a proper procurement process sometimes in error and occasionally intentionally. Action should be taken to crack down on rogue spend to ensure costs are correctly negotiated and items are purchased at the best possible cost price.
Tail spend also becomes difficult because it can often circumvent the budgetary process and due to the low value, suddenly a great deal of company cash can be spent without being noticed until the year end accounts are closed. It is always worth remembering that tail spend represents around a fifth of your overall supplier spend. This is likely not an insignificant sum of money and it would be much better allocated in a considered and strategic way to derive maximum bang for your buck.
Collaboration between teams within your organisation is another way to help minimise tail spend to prevent situations where items are bought from the same suppliers independently of each other. If the purchases are consolidated, this creates more leverage to secure more competitive terms.
The main benefit of managing your tail spend is the resultant cost savings which can translate into cash for investment in the business, taking on new revenue generating staff and generally making your hotel, bar or restaurant more efficient. It will also create hidden benefits in terms of increasing productivity by streamlining what to buy from which supplier.
For guidance on how best to manage your tail spend contact alastair@aroprocurement.com
