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

Modern Restaurant Management

FEBRUARY 4, 2022

A short menu can slim down the food costs through streamlined inventory management, as well as reduced food waste. Consider, removing processed or pre-packaged ingredients from their inventory. Ghost kitchens of 2019 almost exclusively referred to restaurants that worked only through third-party delivery services.

2022 547

2022 Customer Service Online Ordering Website Management 547

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

Goliath Consulting

SEPTEMBER 27, 2020

Up to Date Inventory. POS systems that manage inventory and purchasing capabilities are already well established by now, but we expect AI to optimize these capabilities with the use of RFID (Radio Frequency Identification) tags which use electromagnetic fields to identify and store information about the object the tag is affixed to.

Technology 397

Technology Mobile Ordering Food Safety Customer Service 397

7 Shifts

MAY 31, 2021

For example, kitchen managers rely on software to let them know how much expected inventory they have in stock. Inventory was ordered based on par levels, which are set based on sales forecasts, which are in turn determined by how many guests you'll serve and what they'll order. All tasks in a restaurant are interconnected.

Operations 363

Operations Inventory Hiring Customer Service 363

7 Shifts

AUGUST 7, 2024

But there's more to it than adding up your inventory bill and comparing it to your sales. This is commonly referred to as a percentage. Food cost percentage is the ratio of the cost of food inventory to the amount of revenue it generates. Beginning inventory + monthly purchases - ending inventory = total food and beverage cost.

Food 370

Food Seasonal Menu Inventory Pricing 370

7 Shifts

AUGUST 6, 2021

Staff scheduling, inventory management, menu analysis , guest satisfaction, profitability, and so much more rest on the shoulders of accurate restaurant forecasting. On a micro level, forecasting helps a restaurant plan for inventory orders and how many employees need to work each shift to make and sell food. Inventory Management.

Seasonal Menu 370

Seasonal Menu Point of Sale Inventory Food Supply 370

SpotOn

OCTOBER 14, 2024

The POS system is a restaurant's command center. If you run a restaurant, you know this, so you're probably weighing the many options for POS systems carefully. There are the features, support, hardware, and software, upfront POS hardware costs, and monthly subscription fees. What does a POS system do?

POS 52

POS Loyalty Program Website Management Cash Management 52

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. Food and beverage inventory. Legal and other matters referred to in this article are based on 7shifts' interpretation of laws existing at the time and should not be relied on in place of professional legal advice.

Restaurant Law 370

Restaurant Law Document Brewery Point of Sale 370

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

Lavu

NOVEMBER 30, 2024

Proper cost tracking helps you set profitable menu prices, cut expenses, and manage inventory efficiently. How to track costs : Use tools like POS systems to record prices, calculate recipe costs, and update data regularly. For example, check high-cost items daily, count inventory weekly, and review prices monthly.

Seasonal Menu 78

Seasonal Menu Waste Inventory Cash Management 78

Restaurant365

SEPTEMBER 10, 2021

However, in between all these tasks, it is critical to devote time and energy into accurate and consistent inventory management. Inventory management tracks what’s going in and out of your restaurant for a specific period, and what product is in your restaurant at any given time. Let’s dive into some helpful tips.

Inventory 138

Inventory Management Management Point of Sale 138

7 Shifts

DECEMBER 11, 2019

Example: KFC In 2018, about two-thirds of KFCs in the United Kingdom had to temporarily close due to an inventory issue. One way to simplify this is through integrated restaurant technology, such as POS and employee scheduling software. These decisions can have a strong impact on franchisees, for better or worse. The result?

Franchising 435

Franchising Franchise Email Marketing Communication 435

Culinary Cues

MARCH 9, 2021

This is a place where the pressure of the clock still exists, where orders off the POS seem to stream just as relentlessly, and where impatient servers tap their shoes and stare just as mercilessly as they do on the hot line. This is the home of Garde Manger, or pantry, or simply – the cold kitchen.

Presentation 436

Presentation Fine Dining Seasonal Menu Design 436

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. When you’ve defined how much staff you require at different sales data periods, you should also reference visiting your sales per labor hour (SPLH) and labor percentage goals.

Inventory 145

Inventory Seasonal Menu Employee Relations Customer Experience 145

ChowNow

JULY 17, 2024

Objectives Organizational structure Standard operating procedures (SOPs) Inventory management Staffing and Training Technology and Equipment Quality Control and Continuous Improvement Define Your Objectives Start by clearly defining the objectives of your restaurant operations plan. Check out this article for sample interview questions.

Operations 195

Operations Kitchen Safety Front of House Food Safety 195

Modern Restaurant Management

DECEMBER 21, 2022

Instead, as these solutions advance, companies should refer to their technology as “Smart Carts,” or something in the same vein, to give a more accurate representation of what they provide and come off as warm and welcoming tools designed to elevate hospitality. – Richard Patrick, Co-Founder of Cathead Distillery.

2023 493

2023 Loyalty Program Mobile Ordering Customer Experience 493

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. Innovating: Identify issues in your restaurant—whether inventory or systems-related— and be willing to create solutions and processes to improve efficiency.

Management 284

Management Management 2019 Employee Relations 284

7 Shifts

MAY 23, 2024

Create a restaurant operations manual A restaurant operations manual ensures that your business procedures are well-documented, concise, and readily available for your employees' reference. This is important, especially if you're training and hiring new employees.

Operations 221

Operations Kitchen Safety Food Safety Restaurant Law 221

SpotOn

FEBRUARY 26, 2025

For weekly or more in-depth reporting, accounting software that integrates with your POS system is recommended.  Your P&L line items should be consistent with the ones on different platforms—POS, inventory management, and accounting software. Those sales line items should match the ones in your POS reporting.

Point of Sale 88

Point of Sale License Insurance POS 88

Culinary Cues

APRIL 1, 2024

There would be two Secret Service Agents who would purchase all the ingredients separate from our normal storeroom inventory and would be stationed in the kitchen watching my every move. They could not take any chances when it came to the safety of the second person in line of succession to the presidency.

Back of House 376

Back of House Kitchen Safety Hotels Front of House 376

7 Shifts

SEPTEMBER 6, 2024

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. COGS can be expressed as a percentage of your sales, often referred to as the COGS ratio. The formula includes the beginning inventory, purchased goods, and ending inventory.

2024 195

2024 Seasonal Menu Inventory Audits 195

7 Shifts

MAY 1, 2024

On a similar note, when searching for a modern cloud-based POS system to keep track of your sales, look for one that can be integrated into other restaurant software. Some of the best POS systems you can try include Toast, TouchBistro, and Square. Doing so helps measure how efficiently your restaurant is using its inventory.

Cash Management 221

Cash Management Inventory Employee Relations Beverage 221

Focus POS

DECEMBER 8, 2021

During a “normal” year, restaurant owners and operators face issues such as cash flow and capital, inventory management, hiring and training and providing excellent customer service. How the right POS system overcomes restaurant challenges. As far as restaurant challenges go, inventory mistakes can be some of the costliest.

Mobile Ordering 148

Mobile Ordering Point of Sale Online Ordering Cash Management 148

7 Shifts

OCTOBER 31, 2022

You'll have a document to reference during the planning or opening of your restaurant. Here is also a good time to discuss processes you plan to adhere to in the back of the house, such as food cost control methods and who your inventory suppliers are. Inventory management systems. Restaurant technology. Point of Sale Systems.

Point of Sale 397

Point of Sale Back of House Document Download 397

7 Shifts

JULY 16, 2021

Reference secondary research studies or create your surveys and questionnaires to send out to a select group of people! 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. How can you conduct this research?

License 459

License Hiring Equipment Small Business 459

Restaurant365

FEBRUARY 22, 2022

While restaurant reporting refers to your numbers, restaurant analytics, on the other hand, provide actionable insights. Similarly, analyzing your operations data and making critical business decisions regarding labor and inventory can improve operational efficiency. The importance of POS integration in restaurant data collection.

Point of Sale 147

Point of Sale POS Inventory Seasonal Menu 147

7 Shifts

AUGUST 20, 2021

Note: As the year continues, you can refer to The Economic Policy Institute's Minimum Wage Tracker for up-to-date information on wage changes. POS systems. Use a procurement management app like Bluecart to keep track of food costs, monitor supply levels, and save time managing inventory. Track inventory and food costs.

Inventory 195

Inventory Food Supply Seasonal Menu Food Order 195

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

Lavu

MARCH 9, 2020

Inventory management is at the heart of running a successful restaurant business. With food ingredients costing a dime and requiring frequent replenishment, a restaurant inventory management system is necessary. It ensures that your chefs and cooks keep track of the available ingredients and can tell how much more inventory is needed.

Inventory 78

Inventory Management Management Point of Sale 78

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

Restaurant365

JANUARY 4, 2022

Restaurant inventory management plays a key role in overcoming the rising cost of food. As the rising food cost trend continues, it’s time to tighten your inventory control. Automate manual restaurant inventory processes. Your team must still take manual inventory by hand to account for spoilage, improper portioning, and waste.

Inventory 15

Inventory Management Management Food 15

Open for Business

NOVEMBER 21, 2022

If you’re a relative newbie to the restaurant industry or a die hard traditionalist, you may be wondering what a POS system is for a restaurant. POS stands for point of sale, and it refers to the transactional moments when a guest orders and pays for their meal. What is a POS system for a restaurant? POS terminals.

POS 78

POS Mobile Ordering Point of Sale Food Truck 78

Restaurant365

JANUARY 11, 2022

With POS integration, you can easily access information like total daily sales, check count and labor data. Make sure you note it in your manager log, so that you have the inventory and labor to meet the demand. Record ongoing issues in your restaurant manager log so you can reference it later.

Management 158

Management Management Employee Relations Communication 158

7 Shifts

SEPTEMBER 6, 2024

Before the shift starts, a barback should check bar inventory , making sure that all liquor bottles are topped up, mixers are ready, and garnishes like lemons and limes are prepped. Reach out to industry associations, local bartender groups, or culinary schools to see if they can refer qualified candidates.

Demo 195

Demo Hiring Customer Experience Bar 195

Restaurant Engine

AUGUST 2, 2020

Restaurant owners implement Enterprise Resource Planning (ERP) solutions for inventory management and real-time low stock notifications. Also, when inventory levels fall below par, an ERP system will prompt a manager to re-stock, or even automatically place an order to a supplier. Below are a few checkpoints to note. Recipe Management.

Inventory 80

Inventory Management Management Point of Sale 80

Xtra Chef

OCTOBER 28, 2020

Restaurant inventory management is not the most enjoyable restaurant task. Inventory management is a cost management strategy that influences your restaurant food costs , revenue, profitability, and cash flow. But having too little inventory makes it difficult to meet customer demand. Part 2: Why Inventory Management Matters.

Inventory 78

Inventory Management Management Cash Management 78