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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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CoralTree debuts vacation rental collection

Hotel Business

Among the services provided by the CoralTree Residence Collection are owner relations and renovation services; accounting and financial services; guest/concierge services; front desk and amenity management; maintenance and capital project oversight; marketing; distribution and pricing; housekeeping; asset management; and procurement.

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

Modern Restaurant Management

Nobody has time for that when there is a crowded dining room, to-go orders flying out the window and customers complaining about their favorite menu items going up in price. It can take hours to manually figure out things like recipe costs, ingredient prices and inventory counts. Leverage Purchasing Data.

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Gross Profit Margin: A Guide for Restaurants

Synergy Suite

Gross profit margin is a fundamental financial metric that reveals the percentage of revenue left after accounting for the cost of goods sold (COGS). Analyze the gross profit margin to understand how efficiently you’re managing costs and pricing your menu items.

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How to Wield Restaurant Food Costs to Your Advantage

MBB Hospitality

It involves tracking the cost of each ingredient, understanding seasonality, and recognizing price fluctuations. This granular approach helps in making informed decisions about menu design, portion sizes, and pricing, ensuring that each dish contributes positively to your bottom line.

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Restaurateurs Foresee Bright Future as Fine Dining Turns Vegan

Modern Restaurant Management

Plant Based Protein accounted for US$ 11.3 Vegan restaurants are hit hard as their raw material procurement is very specific and relatively complex. The low prices of fast food chains will help attract customers, including those who usually order meat options. Now, there's no denying that there's money in this segment.

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How Restaurant Management Software Can Help You Manage Inventory and Control Costs

The Restaurant Times

With this information readily available, you can make informed decisions regarding pricing and menu engineering to maximize profitability. Vendor Management and Price Comparison Maintaining strong relationships with vendors and suppliers is essential for any restaurant.