SOURCE CODE

Five benefits of Finlays' distinctive coffee sourcing model

Words: Thomas Blackwall

CAPPUCCINO, COLD BREW, LONG BLACK, FRAPPUCCINO… GLOBALLY WE CONSUMER OVER 400 BILLION CUPS OF COFFEE EACH YEAR. AND, OF COURSE, WE ALL LIKE TO DRINK OUR COFFEE IN DIFFERENT WAYS. BUT TO DO SO, WE ALL RELY ON THAT HUMBLE GREEN BEAN WHICH HAS TAKEN YEARS TO GROW AND HAS OFTEN BEEN SHIPPED MANY THOUSANDS OF MILES TO GET TO YOUR CUP.In 2023, however, the ability to sustainably and consistently source coffee has never been more challenging. Supply chains are increasingly complex, coffee growing regions are struggling with the effects of climate change and socio-economic insecurity, while green coffee prices are increasingly unstable. This creates a high degree of risk in terms of price and logistics, as well as quality, food safety and ethics. And ultimately, a threat to the long-term prosperity of our industry.The question is how best to manage this risk. At Finlays, our sourcing model is focused on building strong and collaborative partnerships in which both we and our suppliers are equally committed to each other’s success. A key element of our approach is our Supplier Relationship Management (SRM) programme. This is based on a four-step programme which sees us build and maintain close relationships with trusted suppliers, create continuous improvement and collaboration initiatives and invest into their future businesses to create mutual value, ensuring that we are their buyer of choice.