Latest / Choppin’ It Up by Bloomberg Intelligence / SupplyCaddy CEO Stein on Packaging Strategy

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SupplyCaddy CEO Stein on Packaging Strategy · Choppin’ It Up by Bloomberg Intelligence

• 0:13
  Speaker 1: Welcome to Chopping It Up. I'm your host, Mike Halon,
• 0:15
  Speaker 1: the senior Restaurant food Service analyst at Bloomberg Intelligence. Our
• 0:19
  Speaker 1: research and that of bi's five hundred analysts around the
• 0:22
  Speaker 1: globe can be found exclusively on the Bloomberg terminal. If
• 0:26
  Speaker 1: you enjoy the pod, please do me a solid and
• 0:28
  Speaker 1: give us a five star review on Apple or Spotify.
• 0:31
  Speaker 1: Today we're joined by Zachary Stein, co founder and CEO
• 0:35
  Speaker 1: at Supply Caddy, a global manufacturer and supplier of custom
• 0:38
  Speaker 1: packaging for the food service industry. He also co hosts
• 0:42
  Speaker 1: Delivered the Journey of Packaging podcasts with his business partner Bradley.
• 0:46
  Speaker 1: Welcome to the pod, Zach.
• 0:48
  Speaker 2: What's up, Michael, Hopefully you're staying warn brother.
• 0:51
  Speaker 1: Ah, Man, it's cold. I'm trying. I got a big
• 0:54
  Speaker 1: jacket today, I got layers on, so I'm surviving. How's
• 0:58
  Speaker 1: that Miami weather today?
• 1:00
  Speaker 2: To tease you, but my buddy was sending me pictures
• 1:02
  Speaker 2: over the weekend, him snowblown his driveway, and I'm texting
• 1:05
  Speaker 2: them photos and my boys and I at the pool
• 1:07
  Speaker 2: and they jumping in. I'm like, sorry, man, you got
• 1:10
  Speaker 2: to make the move.
• 1:10
  Speaker 1: Yeah, man, I got a lot of neighbors that are snowbirds.
• 1:14
  Speaker 1: I'm ready to join them.
• 1:15
  Speaker 2: I think we'll bring you into Miami. It's a good
• 1:18
  Speaker 2: food service scene too.
• 1:19
  Speaker 1: All right, man, let's get into it. What was the
• 1:21
  Speaker 1: gap in the packaging industry that you saw when you
• 1:25
  Speaker 1: founded Supply Gen Supply Caddy in twenty twenty. Yeah.
• 1:29
  Speaker 2: Man, it's an interesting question. You know, packaging as sort
• 1:32
  Speaker 2: of an entire category to me, was always like forgotten about,
• 1:36
  Speaker 2: and even though like every single day you're interacting with
• 1:39
  Speaker 2: some sort of packaging, right, whether it be your toothpaste,
• 1:43
  Speaker 2: whether it be your Amazon, whether it be food service,
• 1:45
  Speaker 2: and the food service for us, when we sort of
• 1:48
  Speaker 2: did like a holistic look at it, packaging was treated
• 1:51
  Speaker 2: like a commodity line item. But for QSR Fast casual,
• 1:55
  Speaker 2: it's actually become more like a profit and guest experience
• 1:59
  Speaker 2: level because of the complete paradigm shift in the way
• 2:03
  Speaker 2: restaurants are run now. Right, seventy five eighty percent of
• 2:06
  Speaker 2: restaurant traffic now is off premise, so that experience they're
• 2:11
  Speaker 2: having with the packaging has sort of like previously been
• 2:16
  Speaker 2: forgotten about, but now it's sort of like the second
• 2:18
  Speaker 2: dining room or sometimes even the only interaction the brand
• 2:21
  Speaker 2: has to be able to have with their consumers. So
• 2:26
  Speaker 2: for us, we saw like this very archaic, non sexy
• 2:29
  Speaker 2: business that we said, hey, what can we do different?
• 2:33
  Speaker 2: Let's learn more about not only packaging, but the supply
• 2:35
  Speaker 2: chain that's directly related to it, and sort of like
• 2:38
  Speaker 2: what were the spec management gaps? What were these operators
• 2:42
  Speaker 2: really getting challenged with? They were juggling all these dozens
• 2:45
  Speaker 2: of skews, whether it be cups and lids and bowls
• 2:48
  Speaker 2: and bags, but they had multiple vendors and inconsistent specs
• 2:52
  Speaker 2: and lead times and substitutions. And we saw an opportunity
• 2:56
  Speaker 2: sort of like to answer your question as a gap
• 2:58
  Speaker 2: of like we can be that can solidated resource and
• 3:01
  Speaker 2: supplier across all these different SKUs and make packaging so
• 3:07
  Speaker 2: it's no longer.
• 3:07
  Speaker 1: Just a cup.
• 3:08
  Speaker 2: It's really that guest experience, it's your cost control for
• 3:12
  Speaker 2: the restaurant, it's the compliance all wrapped into like one skew.
• 3:16
  Speaker 1: Very cool, and why weren't the legacy players willing or
• 3:19
  Speaker 1: able to fill that gap?
• 3:22
  Speaker 2: Michael's a great question and sort of one that we
• 3:25
  Speaker 2: go back and forth every single day, But I would
• 3:27
  Speaker 2: say legacy packaging in our industry specifically was really optimized
• 3:32
  Speaker 2: for like bulk commodity selling. It was made for like
• 3:36
  Speaker 2: very big runs, not made for speed, not made for customization,
• 3:41
  Speaker 2: and a lot of this qs R needs is cross
• 3:44
  Speaker 2: functional complexity. Right, So these big incumpanies were really great
• 3:48
  Speaker 2: at high volume, but standardized programs and QSR as you know,
• 3:54
  Speaker 2: needs like frequent iteration. There's so many new menu items,
• 3:58
  Speaker 2: ltos delivery optimization, and we saw this opportunity where we
• 4:03
  Speaker 2: could come in and not run the same machine on
• 4:06
  Speaker 2: the same spec every single time and try to add
• 4:08
  Speaker 2: value that if you're Dave's Hot Chicken or you're Sweekering,
• 4:12
  Speaker 2: your spec deserves your spec. You're plating your food the
• 4:15
  Speaker 2: way that you wanted to be plated. The packaging should
• 4:19
  Speaker 2: match that, not just something that's off the shelf from
• 4:22
  Speaker 2: one of these legacy players that's trying to throw you
• 4:25
  Speaker 2: something that's just running on the machine time and time again.
• 4:27
  Speaker 1: Yeah, and starting that the business at a time when
• 4:30
  Speaker 1: the global supply chain was a mess. Yeah, it was
• 4:33
  Speaker 1: some great timing actually, but man, those first couple of
• 4:36
  Speaker 1: years had to be crazy for you and the team.
• 4:39
  Speaker 2: It was. It was nuts. Man, I gotta be honest.
• 4:41
  Speaker 2: I mean we sort of say we got our street MBA.
• 4:43
  Speaker 2: We were very fortunate and that our first client out
• 4:46
  Speaker 2: of the gate was Popeyes and this was in the
• 4:48
  Speaker 2: very beginning of the pandemic, and this would led us
• 4:51
  Speaker 2: to start in the business. Their largest paper bag manufacturer
• 4:55
  Speaker 2: turned off their allocation overnight. They were restaurants were closed.
• 5:00
  Speaker 2: Third party delivery and pickup was the only way for
• 5:02
  Speaker 2: them to get product out the door. And these manufacturers
• 5:06
  Speaker 2: were to say, hey, we can charge a premium now.
• 5:08
  Speaker 2: But even these guys that were buying in big bulk,
• 5:11
  Speaker 2: you know, large orders, couldn't get the products that they
• 5:13
  Speaker 2: were trying to get. So it was it was hectic.
• 5:17
  Speaker 2: We were bringing product from all over the world. Freight
• 5:20
  Speaker 2: was all over the place. It was sort of like
• 5:22
  Speaker 2: very fragmented all the way down from the supply chain
• 5:25
  Speaker 2: to the operator base. Restaurant procurement is so decentralized, right
• 5:30
  Speaker 2: You have franchisees, you have multiple unit groups, some you
• 5:34
  Speaker 2: have private equity platforms. So for these legacy suppliers to
• 5:37
  Speaker 2: deliver like a consistent experience without like coordination, the layer
• 5:42
  Speaker 2: of delivery we saw as like a void and we
• 5:45
  Speaker 2: sort of just took that as an opportunity. We're like, heck, man,
• 5:47
  Speaker 2: we're gonna jump right in and see what we can do.
• 5:49
  Speaker 1: All right.
• 5:49
  Speaker 2: Cool?
• 5:50
  Speaker 1: Fast forward to today, man, with the proliferation of delivery
• 5:54
  Speaker 1: and social media. You know, how important is that custom
• 5:57
  Speaker 1: packaging to a restaurant's brand.
• 5:59
  Speaker 2: Yeah, it really depends on what they believe in, right.
• 6:04
  Speaker 2: I mean, we obviously believe that your brand logo and
• 6:07
  Speaker 2: everything should be on all the packaging, but that's not
• 6:09
  Speaker 2: customization to us. To my point previous, like customization should
• 6:13
  Speaker 2: go on to how you're plating the food, what kind
• 6:17
  Speaker 2: of codings you need, how to transport it correctly custom packaging.
• 6:21
  Speaker 2: Custom packaging is now a brand impression. At scale. It's often,
• 6:26
  Speaker 2: like I was saying, the only dining room moment for
• 6:28
  Speaker 2: off premise. Off premise is the new storefront. The packaging
• 6:32
  Speaker 2: is what the guest sees, it's what they photograph, it's
• 6:34
  Speaker 2: what they associate with quality. You have these instagrammable moments,
• 6:38
  Speaker 2: you know, like quality is retention to these guys, and
• 6:42
  Speaker 2: social media is transforming that. Packaging that prevents sogginess, leakage,
• 6:47
  Speaker 2: temperature loss directly impacts the repeat rate and ratings of
• 6:53
  Speaker 2: what these restaurants are seeing so in and delivery, like
• 6:58
  Speaker 2: packaging is the new platewear, it's their new billboard, Like
• 7:01
  Speaker 2: they have to nail that or you know, you're losing
• 7:04
  Speaker 2: out on possible revenue and gaining those long term customers.
• 7:07
  Speaker 1: Yeah. So when you pull up the supply Caddy website
• 7:09
  Speaker 1: as a picture of a greasy bag of tortilla chips
• 7:12
  Speaker 1: and a slider that shows how the bags, your bags
• 7:15
  Speaker 1: can solve that problem, right, And that really resonated with
• 7:18
  Speaker 1: me because no joke. On Friday, my son brought home
• 7:22
  Speaker 1: leftovers from a local Mexican joint and the bag like
• 7:24
  Speaker 1: grossed me out so bad I just had to I
• 7:26
  Speaker 1: just had to toss it, dude, you know. So, like
• 7:29
  Speaker 1: you know, and to your point that you know, now
• 7:31
  Speaker 1: delivery is such a big part of the business and
• 7:33
  Speaker 1: customization is becoming more more critical and everybody's in it.
• 7:39
  Speaker 1: So you know, there's a lot of different you know, uh,
• 7:42
  Speaker 1: improvements to the packaging that needs to be made to
• 7:45
  Speaker 1: make you know, certain things travel well or better. Right,
• 7:48
  Speaker 1: So I'd have to imagine innovation has really accelerated in
• 7:52
  Speaker 1: your business totally.
• 7:54
  Speaker 2: I mean, you know, the sustainability innovation conversation is like
• 7:58
  Speaker 2: two different ones behind but also sort of all tie
• 8:01
  Speaker 2: back and together. I mean, operators are optimizing for hold time,
• 8:07
  Speaker 2: travel time. Design targets have changed. Steam management goes into
• 8:11
  Speaker 2: it venting grease resistance as we're just talking about stackability
• 8:16
  Speaker 2: of how the packaging looks at the store level. Right,
• 8:19
  Speaker 2: the tamper evidence is so important for all this third
• 8:21
  Speaker 2: party delivery, the speed of packing it on the line
• 8:25
  Speaker 2: to make sure their throughput is improving. I mean then
• 8:28
  Speaker 2: you throw into like the third party delivery commissions. Right,
• 8:32
  Speaker 2: that's a whole other aspect that people weren't incorporating. That
• 8:35
  Speaker 2: goes into can we innovate, can we pay more? Or
• 8:38
  Speaker 2: is that just sustainability sort of effort? These the delivery commissions.
• 8:42
  Speaker 2: I mean, you know commonly fifteen to thirty percent of
• 8:46
  Speaker 2: order value, which means you can't afford packaging failures at
• 8:50
  Speaker 2: the restaurant side, right, So they're looking for new innovative ways.
• 8:54
  Speaker 2: Sometimes they need to be educated on the way that
• 8:57
  Speaker 2: things can apply to their certain type of food. But
• 9:00
  Speaker 2: that drive through plus speed service pressure like brands measure
• 9:05
  Speaker 2: like obsessively on how to get that small packing friction
• 9:10
  Speaker 2: the volume spikes. They need to be able to consider
• 9:13
  Speaker 2: all this and innovation isn't just like new materials Michaels,
• 9:16
  Speaker 2: It's like shaving seconds and saving remakes to make sure
• 9:21
  Speaker 2: that the packaging is just not failing at the end
• 9:24
  Speaker 2: of the day.
• 9:25
  Speaker 1: Cool, and you touched on sustainability. Is that still top
• 9:29
  Speaker 1: of mind for you for your US customers or has
• 9:32
  Speaker 1: its importance faded in the last year.
• 9:34
  Speaker 2: Yeah, I think it's a great question. I think sustainability
• 9:37
  Speaker 2: became a hot topic and it was sort of driven
• 9:40
  Speaker 2: by a lot of these gen zers that are out there.
• 9:42
  Speaker 2: I don't think sustainability it hasn't faded, but it's shifted
• 9:46
  Speaker 2: from in my opinion, marketing to more of like risk
• 9:50
  Speaker 2: management and compliance, you know, with cost of living pressure
• 9:54
  Speaker 2: shaping consumer behavior right now, Like they have to make
• 9:57
  Speaker 2: sure that the you know, the regulatory and the risk
• 10:02
  Speaker 2: side is there because consumers still care. But at the
• 10:05
  Speaker 2: end of the day, where the economy is, they want
• 10:07
  Speaker 2: affordability and they want clarity, and with all these new
• 10:11
  Speaker 2: regulations that are out there in our industry, it's called
• 10:13
  Speaker 2: EPR Extended producer responsibility, Like you have to look at
• 10:18
  Speaker 2: it from an operator's lens, and sometimes sustainability decisions require
• 10:22
  Speaker 2: like does it work operationally before we're meeting sort of
• 10:26
  Speaker 2: these sustainability initiatives, And I think sustainability is less a
• 10:31
  Speaker 2: slogan now, it's just really driven on the core of compliance, procurement, discipline,
• 10:37
  Speaker 2: brand trust. At the end of the day.
• 10:38
  Speaker 1: Cool. You know, due to the inflation we've seen over
• 10:43
  Speaker 1: the last handful of years, a lot of the companies
• 10:45
  Speaker 1: we cover talking about achieving supply chain efficiencies more than
• 10:49
  Speaker 1: I've ever heard. And I started covering this industry in
• 10:52
  Speaker 1: twenty twelve. So how have purchasing habits changed since twenty
• 10:57
  Speaker 1: twenty and how important is priced to your customer's purchasing decisions?
• 11:01
  Speaker 2: Yeah, man, another great question. I think you know better
• 11:04
  Speaker 2: than anyone. I mean, when your profit is x sense
• 11:06
  Speaker 2: on a dollar, especially in the restaurant world, every single
• 11:09
  Speaker 2: basis point matters, right, I mean, no matter what. So
• 11:13
  Speaker 2: to us, purchasing and packaging has become very much finance driven.
• 11:19
  Speaker 2: Operators are optimizing their total landed costs and they're protecting
• 11:24
  Speaker 2: a very thin margin. Value wars came to be as
• 11:28
  Speaker 2: we've all seen it for a lot of the restaurants
• 11:30
  Speaker 2: some that you cover. Consumers are more price sensitive there's
• 11:35
  Speaker 2: more transparency. They expect you know, premium you know package
• 11:39
  Speaker 2: premium quality for something that you know might not have that.
• 11:44
  Speaker 2: So it's more competitive bidding than I've ever seen. It's
• 11:48
  Speaker 2: shorter commitment windows in a much more sort of Voldo
• 11:52
  Speaker 2: category and packaging with tariffs coming into play, lead time,
• 11:56
  Speaker 2: more frequent spec and product reviews i've ever seen, especially
• 12:01
  Speaker 2: with sustainability and regulation change. So yeah, price matters, but
• 12:06
  Speaker 2: I would say predictability matters more. So we're measured on
• 12:10
  Speaker 2: fill rates and lead times, in quality, consistency, avoiding stockouts
• 12:15
  Speaker 2: more than anything. These brands will invest so much in
• 12:18
  Speaker 2: branded packaging, the last thing they need is wrong or
• 12:21
  Speaker 2: miss forecasts and then they have a stock out and
• 12:24
  Speaker 2: their whole brand message goes out the windows. So yeah,
• 12:26
  Speaker 2: I mean price is still a big conversation, and I
• 12:29
  Speaker 2: would say every basis point matters, especially on the public
• 12:33
  Speaker 2: side for these companies.
• 12:36
  Speaker 1: Yeah, for sure. And you know supply Caddy is offering
• 12:39
  Speaker 1: some price certainty for your clients, right, and so can
• 12:42
  Speaker 1: you talk a little bit how you're doing that.
• 12:44
  Speaker 2: Yeah, I mean we will. We're pretty maniacal about demand forecasting,
• 12:48
  Speaker 2: so we get a lot of we extract a lot
• 12:50
  Speaker 2: of data from our clients, and we're investing in that
• 12:52
  Speaker 2: raw material, so we're getting a year's worth of commitment,
• 12:56
  Speaker 2: will go out and procure that, sit on it, store
• 12:59
  Speaker 2: it to make sure that their price is not rising. Now,
• 13:02
  Speaker 2: there's obviously fluctuation and transportational logistics costs that we can't control,
• 13:06
  Speaker 2: but from the raw goods or landed costs, like we
• 13:10
  Speaker 2: know that we can fix that price. It gives them
• 13:13
  Speaker 2: some stability knowing that we're not going to be throwing
• 13:16
  Speaker 2: out price increases every single month because a lot of
• 13:18
  Speaker 2: people don't want to go that extra step, I would say,
• 13:21
  Speaker 2: and invest into all the raw materials. So that's sort
• 13:23
  Speaker 2: of been a differentiator for us. A lot of capital
• 13:26
  Speaker 2: outlay from us. We have really good investment partners behind
• 13:29
  Speaker 2: us to allow us to do this, but it gives
• 13:31
  Speaker 2: them some stability for at least this line item on
• 13:34
  Speaker 2: their p and L that they can have some certainty
• 13:36
  Speaker 2: around it outside of another pandemic.
• 13:38
  Speaker 1: Hap. Yeah, So we're seeing in the general commodities for restaurants,
• 13:43
  Speaker 1: you know, we're seeing some easing and food commodities, which
• 13:47
  Speaker 1: which is nice. Oil Unfortunately, it's it's much lower than
• 13:51
  Speaker 1: it was a year ago, but it's starting to poke
• 13:52
  Speaker 1: its head up. We'll see see if oil decides to
• 13:56
  Speaker 1: break out or not. But what are you seeing in
• 13:58
  Speaker 1: terms of inflation and pricing packaging in twenty twenty six.
• 14:01
  Speaker 2: It's a big conversation on import versus domestic. The ever
• 14:04
  Speaker 2: changing landscape of tariffs has been a very challenging market
• 14:10
  Speaker 2: to manage. We were pretty much all import from everything
• 14:15
  Speaker 2: that we were sourcing on. Then we went from sort
• 14:17
  Speaker 2: of a geographical region in the Middle East to becoming
• 14:20
  Speaker 2: multinational to support everything that's going on and trying to
• 14:23
  Speaker 2: move as much as we can domestic. A lot of
• 14:26
  Speaker 2: people don't see sort of like the hitting cost of
• 14:29
  Speaker 2: importing the raw material even though it's produced domestically. You
• 14:32
  Speaker 2: might be pulling in raw material from Finland or China
• 14:35
  Speaker 2: or India, et cetera, and the importers a record still
• 14:39
  Speaker 2: have to account for the landed costs because they're paying
• 14:41
  Speaker 2: for that. They're not, you know, relaying it onto the consumers.
• 14:43
  Speaker 2: So I think packaging, the food service packaging industry is
• 14:48
  Speaker 2: at an all time high. I think it's hitting above
• 14:50
  Speaker 2: one trillion dollars, and then you look at all the
• 14:52
  Speaker 2: other subverticals in and around it CpG, that's taking off
• 14:57
  Speaker 2: all these influencers launching, you know, brands themselves. That's all
• 15:00
  Speaker 2: coming into whether it be the plastic commodity, whether it
• 15:03
  Speaker 2: be the paper commodity. I think that it's going to
• 15:07
  Speaker 2: stabilize domestically, and I think people are going to start
• 15:10
  Speaker 2: looking for a more hybrid approach of how can we
• 15:13
  Speaker 2: import and use some domestic to freshen up sort of
• 15:17
  Speaker 2: that lead time. Hey, we'll do the first two three
• 15:19
  Speaker 2: runs here domestically to lower our lead time and backing
• 15:22
  Speaker 2: up our cost on our specific balance sheet by importing product.
• 15:27
  Speaker 1: As we both know, the restaurant supply chain is highly fragmented.
• 15:31
  Speaker 1: What do most operators underestimate about how much time and
• 15:34
  Speaker 1: money they're losing out managing suppliers?
• 15:37
  Speaker 2: Man topic of conversation daily and our executive leadership meetings.
• 15:43
  Speaker 2: I'd say they underestimate the hidden labor cost and really
• 15:48
  Speaker 2: the downstream cost of errors really created by fragmentation. Right,
• 15:53
  Speaker 2: the time tax, vendor onboarding, spec sheets, invoices, credits, substitutions,
• 15:59
  Speaker 2: delivery windows, the error tax, which is essentially what will
• 16:03
  Speaker 2: categorize as wrong fit. Right, you might have a cup
• 16:06
  Speaker 2: and a lid that doesn't fit, and then you have
• 16:08
  Speaker 2: inconsistent portion packaging or missing skews, remakes, refunds. The working
• 16:13
  Speaker 2: capital aspect super challenging, and I think just benchmarking, framing
• 16:20
  Speaker 2: sort of. The labor is one of the biggest cost
• 16:23
  Speaker 2: lines in restaurants, and that's not dissimilar to your packaging supplier.
• 16:29
  Speaker 2: I mean, the cost isn't just the SKU price. It's
• 16:32
  Speaker 2: the operational drag of managing thirty small problems every single week, right,
• 16:37
  Speaker 2: And sometimes you might not have lumpers at the warehouse.
• 16:40
  Speaker 2: Sometimes freight will go up, and I think that that
• 16:43
  Speaker 2: labor cost is one that's very volatile, tough to manage
• 16:46
  Speaker 2: in something that needs to be on the forefront.
• 16:48
  Speaker 1: Great. From your perspective, where is the biggest inefficiency in
• 16:52
  Speaker 1: restaurant procurement?
• 16:54
  Speaker 2: Oh Man, another challenging question to answer. I would sayment
• 17:01
  Speaker 2: the procurement job is shifted. It isn't just to find
• 17:04
  Speaker 2: the cheapest cup or the cheapest bag. It's really to
• 17:08
  Speaker 2: deliver the lowest total cost per guests served, right, and
• 17:13
  Speaker 2: that comes into the total package of whatever is being delivered.
• 17:16
  Speaker 2: The biggest inefficiency is from our perspective, is buying on
• 17:21
  Speaker 2: unit price. Everyone gets you know, deer in headlights when
• 17:24
  Speaker 2: they see a unit price instead of a total costs
• 17:27
  Speaker 2: to serve, and not standardizing specs across all these different locations.
• 17:31
  Speaker 2: So you know, there's a lot of challenging parts with
• 17:36
  Speaker 2: the restaurant procurement. Sometimes you have PE owned platforms, sometimes
• 17:41
  Speaker 2: you have corporate owned platforms. Sometimes you have GPOs that
• 17:44
  Speaker 2: come in and sometimes they benefit from harmonizing all those
• 17:47
  Speaker 2: skeus together, and sometimes they're independent. So really, just looking
• 17:52
  Speaker 2: at the data of how you're purchasing team is giving
• 17:56
  Speaker 2: the supplier all the information that they need. It's just
• 18:01
  Speaker 2: the data and the visibility to make sure most operators
• 18:04
  Speaker 2: have a tight sort of tie loop between packaging choice
• 18:08
  Speaker 2: and the KPIs that really matter.
• 18:10
  Speaker 1: So you, Bradley and the team, you've accomplished a lot, man.
• 18:13
  Speaker 1: You have some major major restaurant clients, man, which is
• 18:18
  Speaker 1: very cool to see. I'm sure made in the USA
• 18:21
  Speaker 1: right one of your manufacturing facilities is here in the States.
• 18:24
  Speaker 1: I'm sure that's helping you out right now. But what
• 18:27
  Speaker 1: future opportunity for supply Caddy excites you the most?
• 18:33
  Speaker 2: I will tell you we have become intoxicated with the
• 18:38
  Speaker 2: food service industry. Getting to work with really cool, emerging
• 18:42
  Speaker 2: growth brands is fulfilling, right. You invest in them, they're
• 18:47
  Speaker 2: investing in you. I mean we all know, like the
• 18:49
  Speaker 2: Dave's Hot Chicken story, for example, we were with them
• 18:52
  Speaker 2: when they had thirty forty stores. Now they're at three
• 18:54
  Speaker 2: hundred and you know, one of the fastest growing brands
• 18:57
  Speaker 2: out there. Not just similar to another concept we have
• 19:00
  Speaker 2: called Swig. I'm sure you're familiar with Swing Drinks. So
• 19:04
  Speaker 2: it's exciting working with these amazing brands. I mean, that's
• 19:09
  Speaker 2: what gets us up in the morning, which just gets
• 19:13
  Speaker 2: us excited on sort of allowing us to come up
• 19:17
  Speaker 2: with cool ideas that haven't been seen before. Really excites
• 19:20
  Speaker 2: the team of engineers that we have on staff. But
• 19:23
  Speaker 2: I think probably the bigger opportunity that we see is
• 19:26
  Speaker 2: using the built infrastructure that we have to go into
• 19:30
  Speaker 2: other verticals within the packaging space. So we talk about retail,
• 19:33
  Speaker 2: we talk about CpG, we talk about pharmaceutical, healthcare. It
• 19:37
  Speaker 2: all stems from the same raw material supply chain logistics platform.
• 19:41
  Speaker 2: And if we can perfect what we do in food service,
• 19:44
  Speaker 2: I think we can go into those other verticals. And
• 19:47
  Speaker 2: to us, that's super exciting and I think we're on
• 19:51
  Speaker 2: our path to do that. We just owe it to
• 19:52
  Speaker 2: the brands that we're working with now to make sure
• 19:54
  Speaker 2: that we're kicking ass on exactly what their expectations are,
• 19:59
  Speaker 2: and then we'll go into the other stuff as the
• 20:00
  Speaker 2: time comes.
• 20:01
  Speaker 1: Love it, man, exciting stuff. Thanks for doing this.
• 20:04
  Speaker 2: I appreciate Michael, Thank you, brother, you got it.
• 20:06
  Speaker 1: And I want to thank the audience for tuning in.
• 20:07
  Speaker 1: If you'd like to learn more about supply Caddy, go
• 20:10
  Speaker 1: to supply caddy dot com. If you liked our discussion,
• 20:12
  Speaker 1: please share with your friends and colleagues. Check back soon
• 20:15
  Speaker 1: for an interview with Juwan George, partner and co founder
• 20:18
  Speaker 1: at eight five eight Partners.