Hospitality Industry — Dialing-In On Inventory & Purchasing Practices to Slash Food Costs in Your Hotel F&B Operations
Keeping tabs on food costs is essential for hotel profitability. Obviously, you say? Sure, the maths are easy: revenue – CoGS = bottom line. But if you’ve ever been in the trenches of hotel F&B, you know this simple calculation, in reality, equals bloody guerrilla warfare against rising food cost percentages. In this post, I’ll […]
How to Develop a Reliable F&B Inventory Management System for Multi-Unit Restaurants, Catering or Food Delivery businesses
In large-food service operations, food cost accounts for the second-biggest slice of the overall operating cost, right after labour. Food cost can’t be eliminated, in much the same way you can’t fire all your staff to eliminate payroll expenses. But, it can be managed and controlled through a codified and insights-rich restaurant inventory management system. […]
Inventory Turnover Ratio & Days’ Sales in Inventory – The Two Restaurant Inventory Metrics That Will Help You Squash Food Cost & Maximize Profits
Whether you make it or break it ultimately comes down to how expertly you can control your food cost. It doesn’t matter if you’re managing a chain of exclusive restaurants… a dozen hotel eateries… or an award-winning catering service… And how expertly you control food cost ultimately comes down to how expertly you control your […]
Restaurant Food Waste Management — How Smart Operators Drive Down Food Waste & Costs
According to a ReFED report from 2018, in the US, the foodservice industry generates around 11.4 million tonnes of restaurant food waste per year, which translates to $25 billion. In the UK, restaurant food waste clocks in at about one million tonnes (that’s £682 million). Both numbers are so mind-numbingly huge that they almost mean […]
12 Restaurant Inventory Statistics That Highlight Why Inventory Control = Business Success
Inventory losses are still an everyday occurrence for a lot of restaurant owners and operators. A bottle of wine here, a steak there, a couple of onions everywhere… The industry as a whole is making some progress here as more savvy F&B operators realize that by controlling inventory, they’re reining in their biggest cost center […]
5 Restaurant Inventory Challenges That Are Costing You Money (Keep an Eye On #4)
Restaurant inventory challenges are the Gordian knot that almost all restaurant operators struggle with — they’re what keeps even the most experienced owners, F&B managers and chefs up at night, often more so than staff training, admin, or menu engineering. You hack away at them but, try as you might, you just can’t get your […]
5 Restaurant Inventory Best Practices That Will Help You Run A Successful Operation
Start running a successful and profitable operation by adopting some well-known (and some top-secret) restaurant inventory best practices. They might take some getting used to but work at them until they start to feel like a second skin to you and your staff. And then watch in amazement as something complex, daunting, and time-consuming turns […]
Coronavirus: what to do with inventory when your restaurant has to close down suddenly?
The measures to contain the effects of the coronavirus are drastic. Schools are closing, cultural institutions are shutting down, and events are being cancelled or postponed due to the COVID-19 outbreak. In Belgium, France and many other European countries, restaurants and other hospitality businesses are forced to close down. It is likely that food businesses […]
