WEBVTT - SupplyCaddy CEO Stein on Packaging Strategy

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<v Speaker 1>Welcome to Chopping It Up. I'm your host, Mike Halon,

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<v Speaker 1>the senior Restaurant food Service analyst at Bloomberg Intelligence. Our

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<v Speaker 1>research and that of bi's five hundred analysts around the

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<v Speaker 1>globe can be found exclusively on the Bloomberg terminal. If

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<v Speaker 1>you enjoy the pod, please do me a solid and

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<v Speaker 1>give us a five star review on Apple or Spotify.

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<v Speaker 1>Today we're joined by Zachary Stein, co founder and CEO

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<v Speaker 1>at Supply Caddy, a global manufacturer and supplier of custom

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<v Speaker 1>packaging for the food service industry. He also co hosts

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<v Speaker 1>Delivered the Journey of Packaging podcasts with his business partner Bradley.

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<v Speaker 1>Welcome to the pod, Zach.

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<v Speaker 2>What's up, Michael, Hopefully you're staying warn brother.

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<v Speaker 1>Ah, Man, it's cold. I'm trying. I got a big

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<v Speaker 1>jacket today, I got layers on, so I'm surviving. How's

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<v Speaker 1>that Miami weather today?

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<v Speaker 2>To tease you, but my buddy was sending me pictures

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<v Speaker 2>over the weekend, him snowblown his driveway, and I'm texting

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<v Speaker 2>them photos and my boys and I at the pool

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<v Speaker 2>and they jumping in. I'm like, sorry, man, you got

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<v Speaker 2>to make the move.

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<v Speaker 1>Yeah, man, I got a lot of neighbors that are snowbirds.

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<v Speaker 1>I'm ready to join them.

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<v Speaker 2>I think we'll bring you into Miami. It's a good

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<v Speaker 2>food service scene too.

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<v Speaker 1>All right, man, let's get into it. What was the

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<v Speaker 1>gap in the packaging industry that you saw when you

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<v Speaker 1>founded Supply Gen Supply Caddy in twenty twenty. Yeah.

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<v Speaker 2>Man, it's an interesting question. You know, packaging as sort

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<v Speaker 2>of an entire category to me, was always like forgotten about,

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<v Speaker 2>and even though like every single day you're interacting with

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<v Speaker 2>some sort of packaging, right, whether it be your toothpaste,

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<v Speaker 2>whether it be your Amazon, whether it be food service,

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<v Speaker 2>and the food service for us, when we sort of

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<v Speaker 2>did like a holistic look at it, packaging was treated

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<v Speaker 2>like a commodity line item. But for QSR Fast casual,

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<v Speaker 2>it's actually become more like a profit and guest experience

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<v Speaker 2>level because of the complete paradigm shift in the way

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<v Speaker 2>restaurants are run now. Right, seventy five eighty percent of

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<v Speaker 2>restaurant traffic now is off premise, so that experience they're

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<v Speaker 2>having with the packaging has sort of like previously been

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<v Speaker 2>forgotten about, but now it's sort of like the second

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<v Speaker 2>dining room or sometimes even the only interaction the brand

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<v Speaker 2>has to be able to have with their consumers. So

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<v Speaker 2>for us, we saw like this very archaic, non sexy

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<v Speaker 2>business that we said, hey, what can we do different?

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<v Speaker 2>Let's learn more about not only packaging, but the supply

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<v Speaker 2>chain that's directly related to it, and sort of like

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<v Speaker 2>what were the spec management gaps? What were these operators

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<v Speaker 2>really getting challenged with? They were juggling all these dozens

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<v Speaker 2>of skews, whether it be cups and lids and bowls

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<v Speaker 2>and bags, but they had multiple vendors and inconsistent specs

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<v Speaker 2>and lead times and substitutions. And we saw an opportunity

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<v Speaker 2>sort of like to answer your question as a gap

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<v Speaker 2>of like we can be that can solidated resource and

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<v Speaker 2>supplier across all these different SKUs and make packaging so

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<v Speaker 2>it's no longer.

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<v Speaker 1>Just a cup.

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<v Speaker 2>It's really that guest experience, it's your cost control for

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<v Speaker 2>the restaurant, it's the compliance all wrapped into like one skew.

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<v Speaker 1>Very cool, and why weren't the legacy players willing or

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<v Speaker 1>able to fill that gap?

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<v Speaker 2>Michael's a great question and sort of one that we

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<v Speaker 2>go back and forth every single day, But I would

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<v Speaker 2>say legacy packaging in our industry specifically was really optimized

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<v Speaker 2>for like bulk commodity selling. It was made for like

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<v Speaker 2>very big runs, not made for speed, not made for customization,

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<v Speaker 2>and a lot of this qs R needs is cross

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<v Speaker 2>functional complexity. Right, So these big incumpanies were really great

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<v Speaker 2>at high volume, but standardized programs and QSR as you know,

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<v Speaker 2>needs like frequent iteration. There's so many new menu items,

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<v Speaker 2>ltos delivery optimization, and we saw this opportunity where we

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<v Speaker 2>could come in and not run the same machine on

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<v Speaker 2>the same spec every single time and try to add

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<v Speaker 2>value that if you're Dave's Hot Chicken or you're Sweekering,

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<v Speaker 2>your spec deserves your spec. You're plating your food the

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<v Speaker 2>way that you wanted to be plated. The packaging should

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<v Speaker 2>match that, not just something that's off the shelf from

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<v Speaker 2>one of these legacy players that's trying to throw you

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<v Speaker 2>something that's just running on the machine time and time again.

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<v Speaker 1>Yeah, and starting that the business at a time when

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<v Speaker 1>the global supply chain was a mess. Yeah, it was

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<v Speaker 1>some great timing actually, but man, those first couple of

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<v Speaker 1>years had to be crazy for you and the team.

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<v Speaker 2>It was. It was nuts. Man, I gotta be honest.

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<v Speaker 2>I mean we sort of say we got our street MBA.

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<v Speaker 2>We were very fortunate and that our first client out

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<v Speaker 2>of the gate was Popeyes and this was in the

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<v Speaker 2>very beginning of the pandemic, and this would led us

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<v Speaker 2>to start in the business. Their largest paper bag manufacturer

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<v Speaker 2>turned off their allocation overnight. They were restaurants were closed.

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<v Speaker 2>Third party delivery and pickup was the only way for

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<v Speaker 2>them to get product out the door. And these manufacturers

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<v Speaker 2>were to say, hey, we can charge a premium now.

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<v Speaker 2>But even these guys that were buying in big bulk,

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<v Speaker 2>you know, large orders, couldn't get the products that they

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<v Speaker 2>were trying to get. So it was it was hectic.

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<v Speaker 2>We were bringing product from all over the world. Freight

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<v Speaker 2>was all over the place. It was sort of like

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<v Speaker 2>very fragmented all the way down from the supply chain

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<v Speaker 2>to the operator base. Restaurant procurement is so decentralized, right

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<v Speaker 2>You have franchisees, you have multiple unit groups, some you

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<v Speaker 2>have private equity platforms. So for these legacy suppliers to

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<v Speaker 2>deliver like a consistent experience without like coordination, the layer

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<v Speaker 2>of delivery we saw as like a void and we

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<v Speaker 2>sort of just took that as an opportunity. We're like, heck, man,

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<v Speaker 2>we're gonna jump right in and see what we can do.

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<v Speaker 1>All right.

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<v Speaker 2>Cool?

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<v Speaker 1>Fast forward to today, man, with the proliferation of delivery

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<v Speaker 1>and social media. You know, how important is that custom

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<v Speaker 1>packaging to a restaurant's brand.

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<v Speaker 2>Yeah, it really depends on what they believe in, right.

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<v Speaker 2>I mean, we obviously believe that your brand logo and

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<v Speaker 2>everything should be on all the packaging, but that's not

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<v Speaker 2>customization to us. To my point previous, like customization should

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<v Speaker 2>go on to how you're plating the food, what kind

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<v Speaker 2>of codings you need, how to transport it correctly custom packaging.

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<v Speaker 2>Custom packaging is now a brand impression. At scale. It's often,

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<v Speaker 2>like I was saying, the only dining room moment for

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<v Speaker 2>off premise. Off premise is the new storefront. The packaging

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<v Speaker 2>is what the guest sees, it's what they photograph, it's

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<v Speaker 2>what they associate with quality. You have these instagrammable moments,

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<v Speaker 2>you know, like quality is retention to these guys, and

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<v Speaker 2>social media is transforming that. Packaging that prevents sogginess, leakage,

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<v Speaker 2>temperature loss directly impacts the repeat rate and ratings of

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<v Speaker 2>what these restaurants are seeing so in and delivery, like

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<v Speaker 2>packaging is the new platewear, it's their new billboard, Like

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<v Speaker 2>they have to nail that or you know, you're losing

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<v Speaker 2>out on possible revenue and gaining those long term customers.

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<v Speaker 1>Yeah. So when you pull up the supply Caddy website

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<v Speaker 1>as a picture of a greasy bag of tortilla chips

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<v Speaker 1>and a slider that shows how the bags, your bags

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<v Speaker 1>can solve that problem, right, And that really resonated with

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<v Speaker 1>me because no joke. On Friday, my son brought home

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<v Speaker 1>leftovers from a local Mexican joint and the bag like

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<v Speaker 1>grossed me out so bad I just had to I

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<v Speaker 1>just had to toss it, dude, you know. So, like

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<v Speaker 1>you know, and to your point that you know, now

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<v Speaker 1>delivery is such a big part of the business and

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<v Speaker 1>customization is becoming more more critical and everybody's in it.

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<v Speaker 1>So you know, there's a lot of different you know, uh,

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<v Speaker 1>improvements to the packaging that needs to be made to

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<v Speaker 1>make you know, certain things travel well or better. Right,

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<v Speaker 1>So I'd have to imagine innovation has really accelerated in

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<v Speaker 1>your business totally.

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<v Speaker 2>I mean, you know, the sustainability innovation conversation is like

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<v Speaker 2>two different ones behind but also sort of all tie

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<v Speaker 2>back and together. I mean, operators are optimizing for hold time,

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<v Speaker 2>travel time. Design targets have changed. Steam management goes into

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<v Speaker 2>it venting grease resistance as we're just talking about stackability

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<v Speaker 2>of how the packaging looks at the store level. Right,

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<v Speaker 2>the tamper evidence is so important for all this third

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<v Speaker 2>party delivery, the speed of packing it on the line

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<v Speaker 2>to make sure their throughput is improving. I mean then

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<v Speaker 2>you throw into like the third party delivery commissions. Right,

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<v Speaker 2>that's a whole other aspect that people weren't incorporating. That

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<v Speaker 2>goes into can we innovate, can we pay more? Or

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<v Speaker 2>is that just sustainability sort of effort? These the delivery commissions.

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<v Speaker 2>I mean, you know commonly fifteen to thirty percent of

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<v Speaker 2>order value, which means you can't afford packaging failures at

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<v Speaker 2>the restaurant side, right, So they're looking for new innovative ways.

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<v Speaker 2>Sometimes they need to be educated on the way that

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<v Speaker 2>things can apply to their certain type of food. But

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<v Speaker 2>that drive through plus speed service pressure like brands measure

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<v Speaker 2>like obsessively on how to get that small packing friction

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<v Speaker 2>the volume spikes. They need to be able to consider

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<v Speaker 2>all this and innovation isn't just like new materials Michaels,

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<v Speaker 2>It's like shaving seconds and saving remakes to make sure

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<v Speaker 2>that the packaging is just not failing at the end

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<v Speaker 2>of the day.

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<v Speaker 1>Cool, and you touched on sustainability. Is that still top

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<v Speaker 1>of mind for you for your US customers or has

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<v Speaker 1>its importance faded in the last year.

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<v Speaker 2>Yeah, I think it's a great question. I think sustainability

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<v Speaker 2>became a hot topic and it was sort of driven

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<v Speaker 2>by a lot of these gen zers that are out there.

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<v Speaker 2>I don't think sustainability it hasn't faded, but it's shifted

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<v Speaker 2>from in my opinion, marketing to more of like risk

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<v Speaker 2>management and compliance, you know, with cost of living pressure

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<v Speaker 2>shaping consumer behavior right now, Like they have to make

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<v Speaker 2>sure that the you know, the regulatory and the risk

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<v Speaker 2>side is there because consumers still care. But at the

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<v Speaker 2>end of the day, where the economy is, they want

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<v Speaker 2>affordability and they want clarity, and with all these new

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<v Speaker 2>regulations that are out there in our industry, it's called

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<v Speaker 2>EPR Extended producer responsibility, Like you have to look at

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<v Speaker 2>it from an operator's lens, and sometimes sustainability decisions require

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<v Speaker 2>like does it work operationally before we're meeting sort of

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<v Speaker 2>these sustainability initiatives, And I think sustainability is less a

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<v Speaker 2>slogan now, it's just really driven on the core of compliance, procurement, discipline,

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<v Speaker 2>brand trust. At the end of the day.

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<v Speaker 1>Cool. You know, due to the inflation we've seen over

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<v Speaker 1>the last handful of years, a lot of the companies

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<v Speaker 1>we cover talking about achieving supply chain efficiencies more than

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<v Speaker 1>I've ever heard. And I started covering this industry in

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<v Speaker 1>twenty twelve. So how have purchasing habits changed since twenty

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<v Speaker 1>twenty and how important is priced to your customer's purchasing decisions?

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<v Speaker 2>Yeah, man, another great question. I think you know better

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<v Speaker 2>than anyone. I mean, when your profit is x sense

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<v Speaker 2>on a dollar, especially in the restaurant world, every single

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<v Speaker 2>basis point matters, right, I mean, no matter what. So

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<v Speaker 2>to us, purchasing and packaging has become very much finance driven.

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<v Speaker 2>Operators are optimizing their total landed costs and they're protecting

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<v Speaker 2>a very thin margin. Value wars came to be as

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<v Speaker 2>we've all seen it for a lot of the restaurants

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<v Speaker 2>some that you cover. Consumers are more price sensitive there's

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<v Speaker 2>more transparency. They expect you know, premium you know package

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<v Speaker 2>premium quality for something that you know might not have that.

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<v Speaker 2>So it's more competitive bidding than I've ever seen. It's

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<v Speaker 2>shorter commitment windows in a much more sort of Voldo

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<v Speaker 2>category and packaging with tariffs coming into play, lead time,

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<v Speaker 2>more frequent spec and product reviews i've ever seen, especially

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<v Speaker 2>with sustainability and regulation change. So yeah, price matters, but

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<v Speaker 2>I would say predictability matters more. So we're measured on

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<v Speaker 2>fill rates and lead times, in quality, consistency, avoiding stockouts

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<v Speaker 2>more than anything. These brands will invest so much in

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<v Speaker 2>branded packaging, the last thing they need is wrong or

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<v Speaker 2>miss forecasts and then they have a stock out and

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<v Speaker 2>their whole brand message goes out the windows. So yeah,

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<v Speaker 2>I mean price is still a big conversation, and I

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<v Speaker 2>would say every basis point matters, especially on the public

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<v Speaker 2>side for these companies.

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<v Speaker 1>Yeah, for sure. And you know supply Caddy is offering

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<v Speaker 1>some price certainty for your clients, right, and so can

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<v Speaker 1>you talk a little bit how you're doing that.

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<v Speaker 2>Yeah, I mean we will. We're pretty maniacal about demand forecasting,

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<v Speaker 2>so we get a lot of we extract a lot

0:12:50.720 --> 0:12:52.640
<v Speaker 2>of data from our clients, and we're investing in that

0:12:52.720 --> 0:12:56.640
<v Speaker 2>raw material, so we're getting a year's worth of commitment,

0:12:56.800 --> 0:12:59.360
<v Speaker 2>will go out and procure that, sit on it, store

0:12:59.360 --> 0:13:02.199
<v Speaker 2>it to make sure that their price is not rising. Now,

0:13:02.400 --> 0:13:06.720
<v Speaker 2>there's obviously fluctuation and transportational logistics costs that we can't control,

0:13:06.800 --> 0:13:10.360
<v Speaker 2>but from the raw goods or landed costs, like we

0:13:10.480 --> 0:13:13.199
<v Speaker 2>know that we can fix that price. It gives them

0:13:13.240 --> 0:13:16.200
<v Speaker 2>some stability knowing that we're not going to be throwing

0:13:16.200 --> 0:13:18.719
<v Speaker 2>out price increases every single month because a lot of

0:13:18.720 --> 0:13:21.839
<v Speaker 2>people don't want to go that extra step, I would say,

0:13:21.840 --> 0:13:23.960
<v Speaker 2>and invest into all the raw materials. So that's sort

0:13:23.960 --> 0:13:26.800
<v Speaker 2>of been a differentiator for us. A lot of capital

0:13:26.800 --> 0:13:29.559
<v Speaker 2>outlay from us. We have really good investment partners behind

0:13:29.600 --> 0:13:31.160
<v Speaker 2>us to allow us to do this, but it gives

0:13:31.160 --> 0:13:34.040
<v Speaker 2>them some stability for at least this line item on

0:13:34.080 --> 0:13:36.320
<v Speaker 2>their p and L that they can have some certainty

0:13:36.360 --> 0:13:38.360
<v Speaker 2>around it outside of another pandemic.

0:13:38.480 --> 0:13:43.560
<v Speaker 1>Hap. Yeah, So we're seeing in the general commodities for restaurants,

0:13:43.559 --> 0:13:47.760
<v Speaker 1>you know, we're seeing some easing and food commodities, which

0:13:47.800 --> 0:13:50.960
<v Speaker 1>which is nice. Oil Unfortunately, it's it's much lower than

0:13:51.000 --> 0:13:52.400
<v Speaker 1>it was a year ago, but it's starting to poke

0:13:52.360 --> 0:13:56.079
<v Speaker 1>its head up. We'll see see if oil decides to

0:13:56.120 --> 0:13:58.080
<v Speaker 1>break out or not. But what are you seeing in

0:13:58.200 --> 0:14:01.440
<v Speaker 1>terms of inflation and pricing packaging in twenty twenty six.

0:14:01.760 --> 0:14:04.800
<v Speaker 2>It's a big conversation on import versus domestic. The ever

0:14:04.920 --> 0:14:10.240
<v Speaker 2>changing landscape of tariffs has been a very challenging market

0:14:10.280 --> 0:14:15.200
<v Speaker 2>to manage. We were pretty much all import from everything

0:14:15.200 --> 0:14:17.360
<v Speaker 2>that we were sourcing on. Then we went from sort

0:14:17.400 --> 0:14:20.280
<v Speaker 2>of a geographical region in the Middle East to becoming

0:14:20.360 --> 0:14:23.800
<v Speaker 2>multinational to support everything that's going on and trying to

0:14:23.840 --> 0:14:26.360
<v Speaker 2>move as much as we can domestic. A lot of

0:14:26.360 --> 0:14:28.680
<v Speaker 2>people don't see sort of like the hitting cost of

0:14:29.040 --> 0:14:32.640
<v Speaker 2>importing the raw material even though it's produced domestically. You

0:14:32.720 --> 0:14:35.560
<v Speaker 2>might be pulling in raw material from Finland or China

0:14:35.720 --> 0:14:39.040
<v Speaker 2>or India, et cetera, and the importers a record still

0:14:39.040 --> 0:14:41.080
<v Speaker 2>have to account for the landed costs because they're paying

0:14:41.120 --> 0:14:43.560
<v Speaker 2>for that. They're not, you know, relaying it onto the consumers.

0:14:43.600 --> 0:14:48.880
<v Speaker 2>So I think packaging, the food service packaging industry is

0:14:48.920 --> 0:14:50.760
<v Speaker 2>at an all time high. I think it's hitting above

0:14:50.840 --> 0:14:52.880
<v Speaker 2>one trillion dollars, and then you look at all the

0:14:52.920 --> 0:14:57.040
<v Speaker 2>other subverticals in and around it CpG, that's taking off

0:14:57.080 --> 0:15:00.360
<v Speaker 2>all these influencers launching, you know, brands themselves. That's all

0:15:00.760 --> 0:15:03.360
<v Speaker 2>coming into whether it be the plastic commodity, whether it

0:15:03.360 --> 0:15:07.040
<v Speaker 2>be the paper commodity. I think that it's going to

0:15:07.120 --> 0:15:10.840
<v Speaker 2>stabilize domestically, and I think people are going to start

0:15:10.880 --> 0:15:13.320
<v Speaker 2>looking for a more hybrid approach of how can we

0:15:13.440 --> 0:15:17.400
<v Speaker 2>import and use some domestic to freshen up sort of

0:15:17.400 --> 0:15:19.400
<v Speaker 2>that lead time. Hey, we'll do the first two three

0:15:19.440 --> 0:15:22.720
<v Speaker 2>runs here domestically to lower our lead time and backing

0:15:22.800 --> 0:15:26.960
<v Speaker 2>up our cost on our specific balance sheet by importing product.

0:15:27.280 --> 0:15:30.720
<v Speaker 1>As we both know, the restaurant supply chain is highly fragmented.

0:15:31.200 --> 0:15:34.280
<v Speaker 1>What do most operators underestimate about how much time and

0:15:34.360 --> 0:15:36.600
<v Speaker 1>money they're losing out managing suppliers?

0:15:37.360 --> 0:15:42.680
<v Speaker 2>Man topic of conversation daily and our executive leadership meetings.

0:15:43.160 --> 0:15:48.120
<v Speaker 2>I'd say they underestimate the hidden labor cost and really

0:15:48.160 --> 0:15:52.680
<v Speaker 2>the downstream cost of errors really created by fragmentation. Right,

0:15:53.240 --> 0:15:58.960
<v Speaker 2>the time tax, vendor onboarding, spec sheets, invoices, credits, substitutions,

0:15:59.200 --> 0:16:03.200
<v Speaker 2>delivery windows, the error tax, which is essentially what will

0:16:03.240 --> 0:16:06.280
<v Speaker 2>categorize as wrong fit. Right, you might have a cup

0:16:06.320 --> 0:16:07.960
<v Speaker 2>and a lid that doesn't fit, and then you have

0:16:08.040 --> 0:16:12.920
<v Speaker 2>inconsistent portion packaging or missing skews, remakes, refunds. The working

0:16:13.000 --> 0:16:20.600
<v Speaker 2>capital aspect super challenging, and I think just benchmarking, framing

0:16:20.800 --> 0:16:23.160
<v Speaker 2>sort of. The labor is one of the biggest cost

0:16:23.280 --> 0:16:29.160
<v Speaker 2>lines in restaurants, and that's not dissimilar to your packaging supplier.

0:16:29.280 --> 0:16:32.640
<v Speaker 2>I mean, the cost isn't just the SKU price. It's

0:16:32.680 --> 0:16:37.240
<v Speaker 2>the operational drag of managing thirty small problems every single week, right,

0:16:37.440 --> 0:16:40.240
<v Speaker 2>And sometimes you might not have lumpers at the warehouse.

0:16:40.280 --> 0:16:43.640
<v Speaker 2>Sometimes freight will go up, and I think that that

0:16:43.720 --> 0:16:46.960
<v Speaker 2>labor cost is one that's very volatile, tough to manage

0:16:46.960 --> 0:16:48.400
<v Speaker 2>in something that needs to be on the forefront.

0:16:48.600 --> 0:16:52.720
<v Speaker 1>Great. From your perspective, where is the biggest inefficiency in

0:16:52.760 --> 0:16:54.200
<v Speaker 1>restaurant procurement?

0:16:54.600 --> 0:17:01.000
<v Speaker 2>Oh Man, another challenging question to answer. I would sayment

0:17:01.800 --> 0:17:04.520
<v Speaker 2>the procurement job is shifted. It isn't just to find

0:17:04.560 --> 0:17:08.280
<v Speaker 2>the cheapest cup or the cheapest bag. It's really to

0:17:08.480 --> 0:17:12.959
<v Speaker 2>deliver the lowest total cost per guests served, right, and

0:17:13.000 --> 0:17:16.680
<v Speaker 2>that comes into the total package of whatever is being delivered.

0:17:16.720 --> 0:17:20.800
<v Speaker 2>The biggest inefficiency is from our perspective, is buying on

0:17:21.359 --> 0:17:24.360
<v Speaker 2>unit price. Everyone gets you know, deer in headlights when

0:17:24.359 --> 0:17:26.960
<v Speaker 2>they see a unit price instead of a total costs

0:17:27.320 --> 0:17:31.080
<v Speaker 2>to serve, and not standardizing specs across all these different locations.

0:17:31.119 --> 0:17:35.919
<v Speaker 2>So you know, there's a lot of challenging parts with

0:17:36.520 --> 0:17:41.080
<v Speaker 2>the restaurant procurement. Sometimes you have PE owned platforms, sometimes

0:17:41.080 --> 0:17:44.800
<v Speaker 2>you have corporate owned platforms. Sometimes you have GPOs that

0:17:44.840 --> 0:17:47.960
<v Speaker 2>come in and sometimes they benefit from harmonizing all those

0:17:47.960 --> 0:17:52.520
<v Speaker 2>skeus together, and sometimes they're independent. So really, just looking

0:17:52.520 --> 0:17:56.800
<v Speaker 2>at the data of how you're purchasing team is giving

0:17:56.960 --> 0:18:01.280
<v Speaker 2>the supplier all the information that they need. It's just

0:18:01.359 --> 0:18:04.280
<v Speaker 2>the data and the visibility to make sure most operators

0:18:04.720 --> 0:18:08.159
<v Speaker 2>have a tight sort of tie loop between packaging choice

0:18:08.160 --> 0:18:10.160
<v Speaker 2>and the KPIs that really matter.

0:18:10.760 --> 0:18:13.200
<v Speaker 1>So you, Bradley and the team, you've accomplished a lot, man.

0:18:13.280 --> 0:18:18.000
<v Speaker 1>You have some major major restaurant clients, man, which is

0:18:18.119 --> 0:18:21.360
<v Speaker 1>very cool to see. I'm sure made in the USA

0:18:21.520 --> 0:18:24.320
<v Speaker 1>right one of your manufacturing facilities is here in the States.

0:18:24.359 --> 0:18:27.480
<v Speaker 1>I'm sure that's helping you out right now. But what

0:18:27.920 --> 0:18:32.080
<v Speaker 1>future opportunity for supply Caddy excites you the most?

0:18:33.720 --> 0:18:38.600
<v Speaker 2>I will tell you we have become intoxicated with the

0:18:38.600 --> 0:18:42.840
<v Speaker 2>food service industry. Getting to work with really cool, emerging

0:18:42.880 --> 0:18:47.359
<v Speaker 2>growth brands is fulfilling, right. You invest in them, they're

0:18:47.400 --> 0:18:49.720
<v Speaker 2>investing in you. I mean we all know, like the

0:18:49.800 --> 0:18:52.320
<v Speaker 2>Dave's Hot Chicken story, for example, we were with them

0:18:52.359 --> 0:18:54.800
<v Speaker 2>when they had thirty forty stores. Now they're at three

0:18:54.920 --> 0:18:57.960
<v Speaker 2>hundred and you know, one of the fastest growing brands

0:18:57.960 --> 0:19:00.840
<v Speaker 2>out there. Not just similar to another concept we have

0:19:00.920 --> 0:19:04.000
<v Speaker 2>called Swig. I'm sure you're familiar with Swing Drinks. So

0:19:04.840 --> 0:19:08.440
<v Speaker 2>it's exciting working with these amazing brands. I mean, that's

0:19:09.240 --> 0:19:13.440
<v Speaker 2>what gets us up in the morning, which just gets

0:19:13.480 --> 0:19:17.840
<v Speaker 2>us excited on sort of allowing us to come up

0:19:17.880 --> 0:19:20.959
<v Speaker 2>with cool ideas that haven't been seen before. Really excites

0:19:20.960 --> 0:19:23.320
<v Speaker 2>the team of engineers that we have on staff. But

0:19:23.400 --> 0:19:26.200
<v Speaker 2>I think probably the bigger opportunity that we see is

0:19:26.400 --> 0:19:29.840
<v Speaker 2>using the built infrastructure that we have to go into

0:19:30.040 --> 0:19:33.400
<v Speaker 2>other verticals within the packaging space. So we talk about retail,

0:19:33.520 --> 0:19:37.719
<v Speaker 2>we talk about CpG, we talk about pharmaceutical, healthcare. It

0:19:37.760 --> 0:19:41.480
<v Speaker 2>all stems from the same raw material supply chain logistics platform.

0:19:41.840 --> 0:19:44.280
<v Speaker 2>And if we can perfect what we do in food service,

0:19:44.480 --> 0:19:47.359
<v Speaker 2>I think we can go into those other verticals. And

0:19:47.440 --> 0:19:51.040
<v Speaker 2>to us, that's super exciting and I think we're on

0:19:51.080 --> 0:19:52.840
<v Speaker 2>our path to do that. We just owe it to

0:19:52.880 --> 0:19:54.920
<v Speaker 2>the brands that we're working with now to make sure

0:19:54.960 --> 0:19:58.280
<v Speaker 2>that we're kicking ass on exactly what their expectations are,

0:19:59.119 --> 0:20:00.600
<v Speaker 2>and then we'll go into the other stuff as the

0:20:00.640 --> 0:20:01.119
<v Speaker 2>time comes.

0:20:01.320 --> 0:20:03.800
<v Speaker 1>Love it, man, exciting stuff. Thanks for doing this.

0:20:04.119 --> 0:20:06.080
<v Speaker 2>I appreciate Michael, Thank you, brother, you got it.

0:20:06.119 --> 0:20:07.879
<v Speaker 1>And I want to thank the audience for tuning in.

0:20:07.920 --> 0:20:10.199
<v Speaker 1>If you'd like to learn more about supply Caddy, go

0:20:10.240 --> 0:20:12.840
<v Speaker 1>to supply caddy dot com. If you liked our discussion,

0:20:12.880 --> 0:20:15.600
<v Speaker 1>please share with your friends and colleagues. Check back soon

0:20:15.640 --> 0:20:18.680
<v Speaker 1>for an interview with Juwan George, partner and co founder

0:20:18.720 --> 0:20:21.320
<v Speaker 1>at eight five eight Partners.