article thumbnail

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.

article thumbnail

All-in-One Restaurant Management System: How the Pieces Fit

Synergy Suite

The integration between inventory management and purchasing allows for seamless procurement of ingredients and supplies, automating the purchasing process based on inventory levels and pre-set reorder points. Accounting and Financial Management Vendor and purchasing data are essential for accurate accounting and financial management.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What is Restaurant Management Software? Definition and Benefits

Synergy Suite

It helps minimize waste, optimize inventory levels, and streamline the procurement process. Employee Scheduling, Timekeeping, and HR: Employee scheduling software helps with creating and managing staff schedules, tracking employee attendance, and facilitating labor cost optimization.

article thumbnail

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

The Restaurant Times

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. Also, create a clear staff policy about scheduling shifts to reduce the potential for overtime. Implement an Automated Accounting Process. Keep Food Costs Under Control.

article thumbnail

Proven Ways To Establish Restaurant Cost Controls

7 Shifts

First, you'll want to ensure that your restaurant employee scheduling software reflects the updated wages. Use a procurement management app like Bluecart to keep track of food costs, monitor supply levels, and save time managing inventory. You'll be wise to schedule mindfully, since labor budgets are notoriously thin and inflexible.

article thumbnail

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

The Restaurant Times

This allows you to keep track of vendor information, including pricing, terms, and delivery schedules, all in one place. The software facilitates automated purchase order generation and tracking, ensuring efficient procurement processes.

article thumbnail

Prime Costs: Understanding and Application for Restaurants

Synergy Suite

Understanding and managing prime costs is vital for several reasons: Profitability: Prime costs, comprising both the cost of goods sold (COGS) and labor expenses, typically account for the largest portion of a restaurant’s expenses. Be prepared to adjust your calculations to account for seasonal fluctuations.