Digital hospitality platform Ordermentum has introduced a Coffee Index that can provide valuable real time data about coffee prices nationally.

The Coffee Index outlines the volumes and price of wholesale specialty coffee sold across Australia. The index is designed to analyse blends, decaf coffee beans and single origins, on a weekly basis, built on business-to-business orders from cafés to suppliers.

This can provide meaningful insights for suppliers as they can better understand the week-to-week ups and downs in the context of the wider market. For example, data can precisely pinpoint periods where increases in coffee purchases occurred over the past year, with the total amount up 3.5 per cent on the previous year.

Trend reports like this are able to provide Australian coffee roasters and wholesalers a real time global index. The available data has been curated from 12 per cent of all specialty coffee roasters throughout Australia who are currently using the Ordermentum platform. This equates to 10 per cent of all coffee traded in Australia.

The purpose of this index is to provide Australian roasters and wholesalers the technology to accurately forecast consumption and predictive ordering. The technological advantage of Ordermentum has already attracted large coffee roasters to the platform such as Proud Mary, Ona Coffee, Little Marionette and Gabriele.

Key qualities of the service include:

Quality: The index addresses quality by assisting in managing coffee freshness. Best consumed between 4 and 14 days from roast, a more consistent production plan will help to limit the variation in roast dates that the retailer receives, which ultimately results in happy customers.

Customer Service: The demand forecast is comprehensively moderated by market movements for holidays and days of the week trading variances to ensure there is always stock available.

Commercial viability of the wholesalers: More accurate demand forecasts allow roasters to hold lower par levels for stock, improving working capital and reducing wastage.

Ordermentum are developing data that, up until now, has been reserved only for the grocery sector and multinational manufacturers via expensive scan sales reports. Ordermentum anticipates to open the data to open to wider markets, including a specialty bread index, a milk index, and wider hospitality index later in 2018.

To find out more abouter Ordermentum visit the website here.

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