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.

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Modern Restaurant Management

SEPTEMBER 9, 2022

This article will cover how implementing automation tools like IoT monitoring can save your business money, protect your inventory, and save time. Rising Overhead Costs Are Hiking up Prices. Inflation drives price increases for raw materials and labor costs, which are some of a restaurant's most significant expenses.

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7 Shifts

AUGUST 2, 2024

This number is essential because it helps you determine the price of your food and beverages. “Time, not food, is the ultimate perishable inventory,” Sheryl E. TouchBistro stresses how the importance of this figure can help restaurant owners determine whether or not their food prices need to be adjusted.

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ChowNow

MAY 22, 2024

Running a profitable restaurant isn’t just about selling more food or serving more diners; it’s also about efficient inventory management. Prices of ingredients, supplies, and packaging fluctuate all the time, while impacting the bottom line. Here’s what the experts shared with us.

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Modern Restaurant Management

SEPTEMBER 9, 2021

The data to analyze with food is the following: food sales, food costs, sales mixture, food inventory, cost of goods sold, menu pricing, invoice reviews for accuracy of pricing, stock on hand, beginning and end of day protein counts, and daily sold items. They have to price it on the menu and add it to the inventory.

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Modern Restaurant Management

MARCH 2, 2022

Restaurant menu prices continue upward as the U.S. Operators are being forced to make changes in an effort to navigate the price escalation. Technomic also reported that 45 percent of consumers say they usually pick restaurants with lower prices. Department of Labor reported an inflation rate of 7.5 percent on an annual basis.

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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. The prices of ingredients can fluctuate due to several factors, including seasonality, supply chain disruptions, and changes in demand.

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Hot Schedules

JULY 15, 2021

Mitigating Cost Price Inflation Via Supplier Management. T echnology alone can’t affect the causes of cost price inflation. These allow them to set fixed pricing agreements, such as guaranteed prices for an item over a given period irrespective of market fluctuations, or rebates once certain order quantities have been met.

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Sculpture Hospitality

JUNE 8, 2021

Pricing the drinks in your bar can be tricky. Set your liquor prices too high and you run the risk of driving customers away, but set your drink prices too low and you may not be bringing enough money in to even cover your costs, especially if volume fluctuates.

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Sculpture Hospitality

APRIL 26, 2021

In our previous blog, we discussed how to calculate your bar inventory usage through the use of a simple calculation and a bar inventory management system. This inventory usage data gives your bar insight into how your business is performing, with insightful data such as pour cost, product shrinkage, pricing and much more.

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Sculpture Hospitality

JANUARY 4, 2023

A bar inventory spreadsheet can be used to help you manage your bar's inventory and costs. While it’s not as effective as an inventory management system , with the right setup, you can keep track of stock levels, pricing, and other important information related to running a bar.

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Squirrel Systems

MAY 3, 2024

In today’s competitive dining industry, maintaining profitability while keeping prices stable is a significant challenge for restaurateurs. High operating costs, fluctuating commodity prices, and the ever-evolving preferences of guests can all squeeze margins.

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7 Shifts

AUGUST 18, 2024

Not only do you have to manage many costs including, labor, equipment, and food—but you have to do it while dealing with inevitable price increases. Audit and Improve Processes Analyze all processes such as inventory management and time clocking to see if you can make improvements to boost efficiency. Why is Food Cost Important?

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EATER

SEPTEMBER 20, 2023

In the bread aisle, you see two loaves identically wrapped; both are perfectly edible, but one is a day older and costs half the price. This is a business practice called dynamic pricing, and it may be coming soon to a supermarket near you. The price is changing throughout the [time] horizon.” Which do you choose?

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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. This way, you can decide whether you need to raise your prices or not.

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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.

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Sculpture Hospitality

MARCH 21, 2023

As a business owner or manager, one of your top priorities is ensuring that your inventory is properly managed. Without accurate and up-to-date inventory records, it's impossible to make informed decisions about purchasing, pricing, and sales.

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Hot Schedules

JULY 8, 2021

The Problems with Managing Inventory in Spreadsheets. U sing spreadsheets for hospitality inventory management is inaccurate, inefficient, and unwise. Learn how poor inventory management could be making operators crazy and hurting your business. You’d be hard-pressed to find an operator who actually likes taking inventory.

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7 Shifts

OCTOBER 28, 2024

It just goes to show how important drink pricing and cost management are to maximizing profits. Once you have that total, subtract all of your costs, such as labor, inventory, rent, utilities, and other operating expenses. Bars that effectively manage their inventory and reduce waste tend to maintain higher margins.

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Perfect Daily Grind

APRIL 4, 2022

In the coffee industry, larger roasters generally have a greater capacity to manage price risk, but small and medium-sized roasters also have tools at their disposal. To learn more about how coffee roasters can manage and minimise the impact of price risk, I spoke to some industry experts to learn more. What is price risk?

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Clover - Restaurants

JUNE 5, 2024

If you’re already taking weekly inventories, this hack probably won’t be super helpful. With this restaurant inventory management hack, you can sustainably manage waste, maximize profitability, and wrangle wiley food costs. Use your most recent invoices for up-to-date product prices. Then, you can look at toppings.

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ChowNow

FEBRUARY 11, 2020

After all, the delivery giant more than doubled what they call their “restaurant inventory” in the past quarter. While customers might initially be delighted by the array of choices they have, the prices will leave them shocked and disappointed. Because of this, both consumers and restaurateurs pay the price.

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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. Best practices for effective food inventory management.

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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.

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7 Shifts

JUNE 4, 2021

Inventory turnover ratio. Ideal menu price. 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. Break-even point.

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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. Sitting Inventory.

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Xtra Chef

DECEMBER 2, 2020

Restaurant inventory management with Excel takes too time and can lose you money. Inventory management with Excel in restaurants is a common food cost control method that helps you order the right amount of food at the right time to minimize waste, reduce food costs, and maximize profits. Here’s a better solution.

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Xtra Chef

SEPTEMBER 16, 2020

Every hospitality vet knows that taking inventory sucks. It’s time-consuming to write down the numbers of every single item in the walk-in by jotting notes on a printout, then transferring the notes to an Excel spreadsheet or directly into an old-school inventory management system. So stop taking inventory the old way!

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Restaurant365

JULY 21, 2021

When it comes to restaurant inventory, there are a lot of moving pieces. Understanding how to master restaurant inventory management is an invaluable skill. Your inventory control tracks what is coming in and out of your restaurant and what is left over during a certain period of time.

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7 Shifts

NOVEMBER 15, 2024

They play a big role in overseeing your inventory and attending to customer complaints. In this article: How do you handle inventory management to keep the bar always adequately stocked? What techniques would you use to prevent over-pouring and inventory shrinkage? Another factor to consider is pricing.

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Squirrel Systems

MARCH 3, 2024

In today’s competitive dining industry, maintaining profitability while keeping prices stable is a significant challenge for restaurateurs. High operating costs, fluctuating commodity prices, and the ever-evolving preferences of guests can all squeeze margins.

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7 Shifts

DECEMBER 18, 2023

Inventory management Inventory management software helps you monitor your restaurant’s stock levels. Additionally, inventory management tools can help you prevent unnecessary waste. Leading restaurant inventory management platforms include MarginEdge and MarketMan. Food cost tracking tools include Meez and MarginEdge.

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Apicbase

OCTOBER 28, 2022

If CoGs and overheads rise due to inflation, your menu prices should follow. That way, you can keep price increases minimal. In normal circumstances, when menu prices have to be adjusted, it is usually done strategically and with great caution. Drastic price hikes are the last resort for restaurants.

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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.

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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?

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Clover - Restaurants

MAY 15, 2024

The scanner reads the black lines and white spaces of a barcode to store information such as product details, prices, and inventory levels. When to use a barcode scanner for inventory management Barcode scanners are the best way to track inventory from the receiving dock to checkout.

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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.

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