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How to Leverage Data to Optimize Inventory for Profitability

Revenue Hub

NB: This is an article from Craftable Subscribe to our weekly newsletter and stay up to date Optimizing back-of-house processes like procurement and using data to manage current inventory and help predict future trends can help operators control purchase orders, reduce financial risks and anticipate and adjust to future needs based on past trends.

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My One Piece of Advice For The Restaurant Industry

Modern Restaurant Management

As I sat down to write this article, all I could think about was how the foodservice industry is so vital to our daily lives. Think of all the hours you spend counting inventory, placing orders, and managing your accounts payable. When we don’t want to cook, we call our favorite restaurant. The unknown is always scary.

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What Can I Do to Reduce My Restaurant Supply and Labor Costs?

Modern Restaurant Management

We’re going to park this one here until a little later in this article. With the right food cost management technology, you can automate and manage tasks such as recipe costing, accounting, and purchasing, all in real-time. And don’t even get me started on the purchasing data your restaurant is producing all day every day.

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Four Hidden Costs of Turnover and Tangible Strategies to Increase Retention

Modern Restaurant Management

Accounting for inflation, $1.00 This, combined with the unrealized WOTC credits, these two factors alone account for over $60,000 annually. I’ve previously written an article on my thoughts regarding those topics. in 2006 is equivalent to about $1.38 today, making the current cost roughly $8,092 per employee.

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Tech-Driven Hospitality Trends to Expect in 2024 and Beyond

Revenue Hub

NB : This is an article from Infor Subscribe to our weekly newsletter and stay up to date The good news is that the outlook remains promising, with recent Expedia data revealing that almost half of people prioritize travel more now than they did pre-pandemic, and nearly 80% plan to embark on leisure travel into 2024.

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How Dark Kitchen Businesses Can Recoup Their Start-Up Costs and Reach Break-Even Faster

The Restaurant Times

With the help of the strategies and tips mentioned in this article, a stable dark kitchen business can quickly reach operating break-even and generate profits. . Rather than procuring raw materials on credit from your suppliers, check if they are willing to offer a discount if you make an immediate payment.

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What is Restaurant Management Software? Definition and Benefits

Synergy Suite

In this article, we’ll go more in-depth about what a restaurant management software is, and the features and benefits you should be looking for. It helps minimize waste, optimize inventory levels, and streamline the procurement process. What is Restaurant Management Software?