Modern Restaurant Management

APRIL 10, 2024

Restaurant operators have faced stiff headwinds since 2020, with a near-constant swirl of inflation, supply chain and labor challenges. Adapt to Growing Price Fatigue Since the pandemic, controlling food costs has been a major challenge for restaurant operators. Full-service menu prices climbed 4.5

POS Systems 193

POS Systems Back Office Operations Pricing Budgeting 193

SAS

FEBRUARY 1, 2024

Retailers face unprecedented challenges with supply chain volatility, inflation, oil price fluctuations, labor shortages and geopolitical activities, making it difficult to plan across the organization. The emergence of an [.]

Blog 86

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Hospitality Magazine

JANUARY 11, 2023

Suppliers have cited floods, fires and severe weather along with international shortages, supply chain and transport issues as the cause of the problem. Australia’s supply of potatoes has been decimated causing many products to be removed from supply chains and costs to potentially soar.

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Pricing Magazine 246

Modern Restaurant Management

SEPTEMBER 19, 2023

However, the impact that AI is already having on the food industry is without parallel, helping to lower food prices, increase the availability of certain products or ingredients, and prevent supply chain shortages. Optimized Supply Chains Artificial intelligence can also play a huge role in optimizing the supply chain.

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Modern Restaurant Management

NOVEMBER 5, 2021

Food service suppliers have been scrambling to keep pace with fluctuating demand in a supply chain that has been anything but predictable since 2020. How Innovative Supply Chain Technology Can Empower Purchase Decisions. The past year and a half have revealed vulnerabilities in the supply chain.

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Modern Restaurant Management

MAY 10, 2022

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. Here are three ways you can reduce your restaurant supply and labor costs: Use Technology to Streamline Operations. Partner with Supply Chain Experts.

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Modern Restaurant Management

DECEMBER 27, 2023

These factors contribute to a volatile supply chain, influencing everything from ingredient availability to menu pricing strategies. Contemporary menus increasingly feature more plant-based selections and alternative proteins, while also reflecting the demand for locally vetted foods and transparent supply chains.

Pricing 198

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Modern Restaurant Management

APRIL 18, 2024

This makes it tough for companies to capture the market share and have to resort to competitive pricing, complimentary services and providing excellent quality products. The production of fryers can be hit resulting in lesser manufacturing output and less sales, all arising from supply chain irregularities.

Marketing 106

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Modern Restaurant Management

SEPTEMBER 7, 2021

A : Contract overlaps and pricing have a lot of impact on restaurant operators and their business, especially for those without supply chain personnel or who are simply too busy to check or double check pricing contract structures. You must constantly keep track of dates and make sure the right prices are being executed.

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Pricing Document Marketing Magazine 233

Travel Pulse Destinations

MAY 10, 2023

The industry continues to offset capacity constraints and supply-chain issues with higher prices for travelers.

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Pricing 52

Modern Restaurant Management

NOVEMBER 14, 2022

While the rise in construction prices has many confounding factors, it does illustrate how inflation impacts insurance costs. As inflation raises prices, insurers must raise premiums to adequately cover those higher costs, whether they’re construction costs or costs for other products your business uses. Supply Chain Strain.

Information 198

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Modern Restaurant Management

MARCH 21, 2023

Many brands have been experimenting with new technology to help reduce the demand for labor and combat recent price inflation. Smart menus and app-based ordering are examples of platforms that allow brands to relay information to customers in real-time, saving time and resources in communicating or justifying a price change.

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Modern Restaurant Management

OCTOBER 8, 2020

The sunny high desert climate of Yuma, supplied with water from the Colorado river, makes it the perfect lettuce-growing partner. Any weather-related issues can have a dramatic effect on supply and prices as lettuce transitions from one area to the next. As we know, weather is not always predictable.

Pricing 186

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Hospitality Net

MARCH 6, 2024

Volatile prices, extended lead teams for goods and services, and keeping up with guest preferences are just a few challenges that continue to impact hotel supply chains years into pandemic recovery.

Procurement 95

Procurement Pricing 95

Modern Restaurant Management

DECEMBER 21, 2021

While the restaurant industry has experienced major supply chain and labor issues throughout the pandemic, it is now reaching a tipping point. While supply chain issues will likely decrease over the course of 2022, wage inflation represents a new status quo on the bottom line. Optimize the Supply Chain.

Kitchen Operations 192

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Modern Restaurant Management

NOVEMBER 24, 2021

Restaurants have faced labor shortages, supply and equipment shortages, and climbing food prices, with no past playbook on how to navigate the crisis. In fact, according to the National Restaurant Association, 95% of operators said their restaurant has experienced supply chain delays or shortages in recent months.

Pricing 186

Pricing 186

EATER

MARCH 16, 2022

New York City’s City Harvest is one of several organizations experiencing rising costs due to high fuel prices. Amid supply chain challenges and rising food costs, fuel price spikes are yet another headache for food banks If you’re like basically everybody else in America right now, you’re feeling a serious pinch at the gas pump.

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Pricing Budgeting 92

Revenue Hub

NOVEMBER 7, 2022

One of the most important elements of an effective revenue management strategy is offering the right prices. Pricing can be based on cost, competition, or demand. It’s also about adapting your rates to market fluctuations so that you offer the right price, to the right guest, at the right time.

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Modern Restaurant Management

FEBRUARY 16, 2022

Those who don’t are effectively lowering their prices. Understand if your prices are keeping pace with inflation and maintain a markup that matches the costs associated with paying suppliers and staff. Restaurants are dealing with the dual hit of labor shortages and supply chain challenges?

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Modern Restaurant Management

DECEMBER 28, 2021

Labor shortages and other factors are affecting the global supply chain in never-before-seen ways, and certain commodities are intermittently not available, or if they are, they’re expensive. More recent price increases have nearly doubled this number. According to a report from S&P Global Market Intelligence, U.S.

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Hospitality Net

MAY 9, 2023

This trend, along with supply chain issues, led to a noticeable increase in the cost of goods and services.In response to the inflationary pressures resulting from these factors, the United States Federal Reserve System (known as the Fed) has embarked on an interest rate-hike cycle in an effort to taper inflation.

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Les Roches

JANUARY 17, 2024

Strategic decisions about menu design, customer de­mographics, and pricing strategies also play critical roles. By unde­rstanding effective pricing strate­gies, restaurants can achieve a sustainable balance betwe­en profitability and memorable customer experience. Bachelor in Hospitality Management.

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Modern Restaurant Management

OCTOBER 24, 2022

“This could be driven, in part, by ongoing supply chain issues impacting the costs of materials for these businesses. It’s possible that price fluctuation for specific goods and materials have disproportionately impacted some restaurants.” percent from 2022,” added Mudan. ”

Budgeting 179

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Modern Restaurant Management

JUNE 1, 2022

How value engineering can be a restaurant construction solution in the face of rising prices and unpredictable supply chains. As the prices of construction materials skyrocket due to rising inflation and supply chain woes, budgeting for commercial development has become significantly more challenging.

Budgeting 204

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Modern Restaurant Management

FEBRUARY 15, 2022

Certainly one thing on everyone’s mind today is price. Inflation, scarcity in the supply chain, and labor constraints have tacked on dollars. Avocados have a long supply chain with many links because the fruit comes in from Mexico, Chile, and Peru. It is when these costs sneak in that margins go down.

Front of House 186

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Modern Restaurant Management

DECEMBER 22, 2022

clustered as the next three issues of concern, followed by supply chain issues around food items. Staff retention and supply chain issues around non-food items fell lower on the list. . What were common menu items where prices were raised? . Why do you feel restaurant owners are optimistic for 2023?

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Modern Restaurant Management

DECEMBER 1, 2021

We’re in an unusual time when troubled supply chains are suddenly top of mind for the average American: supply chain woes have become fodder for late-night television hosts, and countless headlines warn us that we should’ve started our holiday shopping yesterday.

Communication 192

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Modern Restaurant Management

DECEMBER 20, 2022

The restaurant industry once again proved its resilience in 2022 as it dealt with ongoing obstacles like inflation, supply chain, labor shortages and more. Additionally, we’ve extended our happy hour offerings to last all day, giving our customers the chance to enjoy beverages and bites at a reduced price, any time.

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Modern Restaurant Management

DECEMBER 27, 2022

We’re still facing product shortages, exacerbated by ongoing supply chain interruptions and the Russian-Ukrainian war stalling food shipments – including 9.5 Inflation is causing food prices – and food insecurity – to soar. . Manage Suppliers All Along the Supply Chain. million tons of grain.

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Hospitality Net

AUGUST 4, 2023

We can no longer expect the travelling customer to willingly accept the excuses around supply chain issues and labor shortages. My focus this blog has shifted to international travel to include what is touted as experiential cruises, which fall into the posted price, before any discounts, of $6,500 to 10,000 per person!

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Modern Restaurant Management

MAY 11, 2022

. “Conducting inventory would take two to three hours per restaurant per week, assuming there weren’t any mistakes,” said Rick Buttner, senior director of supply chain operations at IPC. “Franchisees had to pull pricing from their latest invoices and add up all the dollar figures. Inventory Automation.

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Modern Restaurant Management

APRIL 4, 2022

Restaurateurs and operators need to act now to cover costs by increasing menu prices —even if you have adjusted prices recently — and looking for opportunities to save on food costs. In addition to a surge in demand, supply chain bottlenecks continue to impact supply for a variety of products.

Pricing 198

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Modern Restaurant Management

JULY 25, 2023

Inventory management becomes a breeze with AI-driven tools that assist in supply chain forecasting. RMS relies on its patented AI models to analyze these mountains of transactional data, helping restaurants optimize menu pricing, group menu items, and customize pricing based on location or region.

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Hotel Owner

JUNE 22, 2023

However, it said CPI inflation is still expected to fall “significantly further” during the course of the year, mainly reflecting developments in energy prices. It noted core goods CPI inflation is expected to decline later this year, supported by developments in cost and price indicators earlier in the supply chain.

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Modern Restaurant Management

MARCH 21, 2022

Even after the pandemic-fueled tumult of 2020, few would have predicted the extent to which the industry has been shaped in 2021 by such factors as a major labor shortage, supply-chain issues, and soaring inflation. Even in the best of times, commodity prices change on a daily basis. Back-Office Tech Plays a Critical Role.

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Modern Restaurant Management

MAY 2, 2022

Soaring prices, continued supply chain disruptions, and ongoing staffing shortages are creating a perfect storm for restaurants. Additionally, supply chain disruptions remain a huge problem, with 96 percent of restaurant operators saying they experienced supply delays or shortages last year.

Training 216

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Lodging Magazine

NOVEMBER 15, 2022

Challenged by both price increases and supply chain disruptions, buyers do well to exercise all the best practices at their disposal, including flexibility in product selection when possible, closely monitoring price fluctuations, exploiting volume buys, and maintaining regular communications with suppliers.

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