7 Shifts

JUNE 4, 2021

Inventory turnover ratio. Your CoGSs is an essential number to have when determining your menu prices, inventory and impacts your net profit margin. To calculate your COGs, you need the following numbers: Beginning Inventory, or the value of the inventory you start with. Ending inventory , or what you have leftover.

Point of Sale 416

Point of Sale Inventory Employee Relations Customer Service 416

Embrace the Suck

APRIL 26, 2020

Cost of goods (COGS) sold refers to the cost required to create each of the food and beverage items you sell to guests. COGS = Beginning inventory + purchased inventory - final inventory. Another Note: Most modern POS systems have CRM built into their platforms today. Prime Cost. What’s Next?

Cash Management 439

Cash Management Point of Sale Inventory Bar 439

Focus POS

JANUARY 15, 2020

When a technology solution affects as many areas of business as your restaurant POS system does, it can be difficult to track the true return on investment (ROI) that it offers. The first step to understanding the true ROI from a restaurant POS system is to determine quantifiable factors that are influenced by the POS.

POS 151

POS Front of House Loyalty Program Inventory 151

Modern Restaurant Management

SEPTEMBER 1, 2023

Inefficient restaurant inventory management practices, improper storage, gaps in inventory logs, theft, and waste can cause even the most successful kitchens to struggle or fail. Below are the top seven inventory management mistakes restaurants are making, and how to correct them.

Inventory 180

Inventory Management Management Cash Management 180

7 Shifts

APRIL 29, 2021

Work with your POS partner to see how they can assist in getting the applications sent as soon as possible. Any establishment that serves food or beverages to guests is eligible. Food and beverage inventory. Externally or internally prepared financial statements such as Income Statements or Profit and Loss Statements.

Restaurant Law 370

Restaurant Law Document Brewery Point of Sale 370

Restaurant365

AUGUST 19, 2021

Restaurant accounting covers all areas of your business, even inventory. While you may think of your restaurant inventory as part of operations, restaurant inventory management should also be considered an accounting function. So, inventory has an important place in your restaurant accounting.

Inventory 147

Inventory Management Management Employee Relations 147

Restaurant365

JANUARY 4, 2022

Restaurant inventory management plays a key role in overcoming rising food prices. As the rising food cost trend continues, it’s time to tighten your inventory control. Automate manual restaurant inventory processes to help overcome rising food prices. Integrate restaurant inventory management with your POS system.

Inventory 148

Inventory Pricing Management Management 148

Focus POS

MAY 5, 2020

POS software for restaurants does more than just process transactions. On the front end, POS software for restaurants empowers employees to do their jobs better, faster, and more accurately. In the back office, the right system can save hours by automating scheduling, payroll, inventory, and more. Create More Detailed Reports.

POS 120

POS Mobile Ordering Point of Sale Inventory 120

Restaurant365

OCTOBER 16, 2019

When most restaurant owners think about how to manage restaurant inventory, they think of food cost control. For restaurant owners, inventory control is closely related to accounting and food cost management. The nuts and bolts of restaurant inventory management. Inventory tracking also includes product transfers between stores.

Inventory 113

Inventory Management Management POS 113

7 Shifts

JULY 20, 2024

Components of a restaurant’s financial report The food and beverage sales report, prime costs report, inventory report, profit and loss (P&L) statement, and cash flow statement are all critical components of a restaurant's financial management. Let's say your restaurant goes through 50 pounds of chicken per week.

2024 221

2024 Cash Management Inventory Waste 221

Modern Restaurant Management

DECEMBER 22, 2021

The POS system works in concert with the smart device at the table, sending the bill directly to the customer. Product & Inventory Tracking. There also are monitoring systems that can track your inventory. For years, we've seen restaurants add small table kiosks or tablets that allow customers to pay for food.

2022 244

2022 Equipment Email Marketing Customer Service 244

Modern Restaurant Management

JANUARY 18, 2022

How to Use Key Metrics for Proper Inventory. Historical sales levels can indicate what food, beverages, and supplies you need to buy for the next comparable sales period. Mastering how to forecast your inventory is just the first step, you almost must control it. Check your inventory against data collected by the POS.

Inventory 212

Inventory Food Order Food Supply POS 212

Restaurant365

JANUARY 28, 2020

Sales forecasts , based on integrated POS data pulled from your restaurant operations software , are particularly powerful tools in the restaurant industry. How to forecast your restaurant inventory. Inventory Projections. Forecasting for restaurants can also help optimize your other main cost, food. . Profit expectations.

Inventory 145

Inventory Seasonal Menu Employee Relations Customer Experience 145

7 Shifts

SEPTEMBER 6, 2024

The cost of goods sold (COGS) is a restaurant metric that shows you the cost of all ingredients used to prepare a menu item, including the food, beverage costs, and other direct expenses. COGS is based on your inventory, meaning it includes the value of what you start with, what you purchase, and what’s left at the end of the period.

2024 195

2024 Seasonal Menu Inventory Audits 195

7 Shifts

SEPTEMBER 19, 2019

Inventory management: Monitor and maintain food and beverage stock levels. You'll need to be tech-savvy with using POS hardware, scheduling tools , and other operational software. Use the right inventory management systems. Review labor and sales reports on your POS. Reduce food waste.

Management 284

Management Management 2019 Employee Relations 284

Restaurant365

MARCH 10, 2020

When you think of your restaurant finances, do you think of your inventory? Your restaurant inventory management is an oft-forgotten component of your finances, but the amount of product you have on hand represents a large part of your budget. What is Restaurant Inventory Management? Sitting Inventory.

Inventory 103

Inventory Management Management Waste 103

Modern Restaurant Management

DECEMBER 30, 2020

Those are just a few of the ways in which 2020 changed the food, beverage, and grocery industries, according to the data put together by foot traffic analytics firm Placer.ai. POS Software Market. NCR Corporation leads the global restaurant point-of-sale (POS) software market according to research and consulting firm RBR.

2020 211

2020 Merchandise Retail Point of Sale 211

Modern Restaurant Management

NOVEMBER 11, 2021

The goal for every food and beverage company is to synchronize supply and demand. In order to reduce cost, waste, and optimize inventory, the process begins with planning and forecasting. Operators need to monitor revenue, cost, and inventory daily so they can remain agile and iterate on new concepts. Planning and Forecasting.

Supplies 218

Supplies Management Management Food Supply 218

Restaurant365

JANUARY 2, 2020

Whether you’re wondering how much inventory to order next week, or how many employees should be scheduled over the holidays, a restaurant sales forecast, driven by POS data, can help you make better data-driven decisions. The importance of your POS data. Using POS data for accurate restaurant sales forecast.

POS 97

POS Point of Sale Inventory Information 97

Restaurant365

JULY 9, 2020

Restaurant inventory management is the process of monitoring the food and beverage ingredients in your restaurant. Monitoring your inventory documents what food and beverage product is coming into your restaurant, what is leaving your restaurant as product sold, and what remains on your shelves and refrigerator.

Inventory 78

Inventory Management Management Food Supply 78

7 Shifts

OCTOBER 8, 2021

Food and Inventory Costs. Cost of goods sold is the raw material cost of your beverages and food, and labor cost is made up of payroll, employee benefits, taxes, and bonuses. By combining inventory management tools with restaurant employee scheduling software , you can get a better grip on the costs you can control.

Seasonal Menu 195

Seasonal Menu Consumer Goods Food Supply Inventory 195

Restaurant365

AUGUST 4, 2020

You invest a large amount of your budget in inventory. When that inventory is wasted, stolen or spoiled before it’s sold, it must be written off as an expense in the books. Integrating inventory management with accounting facilitates better inventory control. What is restaurant inventory management?

Inventory 78

Inventory Management Management Cash Management 78

Restaurant365

APRIL 14, 2020

Successful restaurant operations, in any kind of economy, depend on well-managed restaurant food inventory. Much of the typical food and beverage inventory in restaurants tends to have a relatively short shelf life, making accurate inventory numbers essential to run a functioning kitchen, make economical orders, and adapt to long-term trends.

Inventory 109

Inventory Delivery Management Management 109

7 Shifts

JULY 16, 2021

Many coffee shops also sell pastries such as croissants, muffins, cookies, and brownies for guests to enjoy alongside their beverages. POS system which includes both the hardware and software to process orders, manage staff and run your business. Your POS should not just take orders and process payments. Online Ordering.

License 459

License Hiring Equipment Small Business 459

Goliath Consulting

JULY 8, 2020

When the dust clears and a proper inventory of each order is finally manageable, the frustration of back ordered product sets in. With the increasingly frustrating variables in the current restaurant industry, beverage supply chain does not need to be the straw that breaks the camels back. Start with the basics of operating a bar.

Supplies 156

Supplies Bar Management Management 156

Focus POS

AUGUST 26, 2020

Your inventory is your largest asset. Keep track of every single dollar you spend on your inventory, and make sure you always know how much of each product is on hand at all times. Make sure your POS tracks your inventory in real time, so that you can stay informed of discrepancies within your inventory counts. .

Management 128

Management Management Bar Inventory 128

Restaurant365

SEPTEMBER 23, 2021

For instance, since restaurants primarily sell food and drink, inventory turns over at a very frequent rate, and sales are made up of a high number of transactions. Between inventory, sales, and other data points like labor, restaurants generate an enormous amount of data. Record Daily Sales Through Your POS.

Cash Management 147

Cash Management Point of Sale POS Inventory 147

Restaurant365

MAY 17, 2022

Food inventory management goes way beyond counting the items on the shelves. The most important part of inventory management is understanding how the amount of product relates to your profit margin. Why a POS system is not suitable for inventory management. The POS system doesn’t do analysis. That’s great.

Inventory 78

Inventory Management Management Food 78

Restaurant365

OCTOBER 29, 2021

You can use back-office restaurant technology to support a positive guest experience in areas such as payment, inventory and food costs, and staff scheduling. POS integration enables flexible payment options. With these POS integration connections, you can enable flexible payment options that meet customer needs.

Customer Experience 158

Customer Experience Technology Mobile Ordering Inventory 158

7 Shifts

JANUARY 23, 2020

Everyone can sell food and beverages, the differentiation is in the details. Use a pos system and 7shifts scheduling. Maintain your inventory costs and labour costs without affecting service and presentation. Make sure you’re building a restaurant of the future not the past. Katy, Cartago. Focus on your service concept!

2020 335

2020 Hiring Cash Management Education 335

Restaurant365

FEBRUARY 25, 2020

Your restaurant profit margin can be influenced by food and inventory trends, your geographic location, the state of the broader economy, and a wide range of other factors. Cost of goods sold (CoGS) refers to the total cost of the inventory used to create food and beverage items during a specific period of time.

Loyalty Program 183

Loyalty Program Point of Sale Fast Casual Online Ordering 183

7 Shifts

JULY 25, 2024

One of the best things to do is to find additional revenue streams to supplement your core food and beverage sales. Research and compare different online ordering platforms and other point-of-sale (POS) systems like Toast, TouchBistro, and Square. The average pour cost of an alcoholic beverage is 20% , which generates 80% gross profit.

2024 243

2024 Loyalty Program Point of Sale Online Ordering 243

Modern Restaurant Management

AUGUST 16, 2023

Many food and beverage establishments have seen success with technology — such as contactless options, automation to support changing workforces and innovative customer loyalty strategies — in their endeavors to meet the demand for safer and more convenient dining experiences.

Loyalty Program 167

Loyalty Program Mobile Ordering Dietary Restrictions Customer Experience 167

Restaurant365

NOVEMBER 5, 2019

Food cost is heavily influenced by your inventory management. With the restaurant industry’s notoriously razor-thin margins, controlling food costs — and managing your inventory — are essential for a healthy bottom line. There are many opportunities within the inventory lifecycle to apply efficient food cost controls.

Inventory 74

Inventory Technology Management Management 74

Restaurant365

MARCH 10, 2020

When you think of your restaurant finances, do you think of your inventory? Your restaurant inventory management is an oft-forgotten component of your finances, but the amount of product you have on hand represents a large part of your budget. What is Restaurant Inventory Management? Sitting Inventory.

Inventory 78

Inventory Management Management Waste 78

Modern Restaurant Management

MAY 19, 2022

Train Staff on the Importance of Restaurant Inventory Control. Training staff on inventory control provides value to your entire organization. Forecasting enables you to purchase food, beverage, and supplies at the right level. You can also compare AvT across multiple locations to focus on the locations that need the most help.

Food Supply 187

Food Supply Waste Point of Sale Inventory 187

7 Shifts

AUGUST 18, 2024

To apply for a liquor license, consult the Alcohol Beverage Control (ABC) Agency) in your state. Sourcing the Right Equipment Your budget, target market, and concept will dictate your equipment needs.

Bar 370

Bar License Email Marketing Customer Service 370