What did foodservice leaders have to say when asked tough questions about the future of foodservice, including relationships with trading partners? We compiled a number of questions from the attendees at IFMA/IFDA Presidents Conference 2012, the annual event where leaders meet, and will feature the conference panelists' answers here at ifmaworld.com over the next few weeks.
What do you want to ask these industry execs? Tell us!
PRESIDENTS CONFERENCE 2012 PANEL Q&A SERIES: 1 of 4
Bill Hale (BH): Is the traditional model of 3 x's food costs dead?
John Bowie, President, Church's Chicken: I wouldn't say it's dead as that's a good model that works out in the cost structure to make a fair profit. However, the days of developing a product and using the 3X model to price it are dead. We develop products based on research on a number of need states but an important one is price point. If there is a void in the market from a price standpoint then we will go after it. The product development process thus begins with the retail price and is reverse engineered. Depending on the size of the opportunity....