Remove 2023 Remove Inventory Remove POS
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Five Ways to Use POS Data to Forecast Holiday Demand for Your Restaurant

Modern Restaurant Management

Utilizing insights from your POS data will help you make informed decisions that predict how demand will look in the lead up to the big day. In this article, we delve into five key ways that you should be using your POS data to forecast holiday demand for your restaurant. On the other hand, no restaurant wants to risk overordering.

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Smart Supply Chain Management Can Reduce Food Waste and Improve Margins in Your Restaurant

Modern Restaurant Management

What restaurants can do, however, is re-think how their direct food supply is managed – from transport to inventory control. The Hidden Costs of Food Waste According to the James Beard Industry Report at the end of 2023, more than 50 percent of the restaurants that participated in the survey showed lower profits than the year before.

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Restaurant Giants Declare War on Digital Chaos

Modern Restaurant Management

The 2024 State of the Restaurant Industry report revealed that 22 percent of restaurant operators plan to invest in technology like POS software, back-of-house systems, and data analytics in the near future. Elevate Operations from Adequate to Excellent Over a third (38 percent) of operators say their restaurant was not profitable in 2023.

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2023 Outlook: Trends and Challenges Restaurants Will See, Part Two

Modern Restaurant Management

Modern Restaurant Management (MRM) magazine asked experts for their thoughts on trends and challenges that will affect the restaurant industry in 2023. In 2023, we can anticipate businesses really focusing in on value and doing what they can to attract and retain both employees and guests. For part one, click here.

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Bridging the Gap: Integrating Legal and Insurance Considerations into Restaurant Cybersecurity Response

Modern Restaurant Management

In January 2023, Yum! Golden Corral's August 2023 network breach affected 183,000 current and former employees, with hackers accessing everything from Social Security numbers to health insurance details. Five Guys experienced a breach in September 2022 that compromised job applicants' personal data.

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No Reservations About Putting Restaurants First

Modern Restaurant Management

Now, restaurants across all categories recognize how these features protect their bottom line, especially with ongoing staffing challenges and inventory planning concerns." 4 Based on American Express proprietary data from January 2023 to December 2023. Tock's origin story is all about problem solving.

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On the Road to Relief: Restaurant Trends and Opportunities to Watch

Modern Restaurant Management

According to September 2023 numbers from the National Restaurant Association , 49 percent of restaurants reported year-over-year increases in same-store sales. economy demonstrated resilience in 2023—with GDP, employment rates and consumer spending remaining relatively stable or even growing. Coffee in 2023.

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