Remove Cash Management Remove Customer Service Remove Inventory Remove Loyalty Program
article thumbnail

2024 Outlook: Restaurant Trends and Challenges, Part Three

Modern Restaurant Management

Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their views on what trends and challenges owners and operators can expect to see in 2024. Consider, for instance, a scenario in which your Point of Sale (POS) system can forecast the popularity of a new dish based on historical customer behaviour.

2024 215
article thumbnail

Consumer Habits Are Changing — What’s Next for Restaurant Tech?

Modern Restaurant Management

Many food and beverage establishments have seen success with technology — such as contactless options, automation to support changing workforces and innovative customer loyalty strategies — in their endeavors to meet the demand for safer and more convenient dining experiences. Gone are the days of cash-only transactions.

Insiders

Sign Up for our Newsletter

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

Trending Sources

article thumbnail

Everything You Need To Know About the Increasing Role of AI in Restaurants

Modern Restaurant Management

For now, restaurants are using AI (Artificial Intelligence) and ML (Machine Learning) to streamline operations and improve customer service in a much less tech-savvy environment. AI is a program developed by humans to respond to a set of instructions under specific environments. What are AI and ML?

article thumbnail

What Is a POS System? A Guide for Restaurants and Small Businesses.

SpotOn

While those classic cash registers did wonders back in the day, point-of-sale (POS) systems have now become the industry standard for small businesses and restaurants. Alongside transactions, modern POS systems run software applications to help businesses manage their employees, reach new customers, and encourage existing ones back in.

article thumbnail

8 Ways to Navigate The Restaurant Staff Shortage

Lavu

According to the Bureau of Labor Statistics July 2023 Job Openings and Labor Turnover Summary , the number of job openings in the food services and drinking places industry was 1.9 This means that there were 600,000 more job openings than hires in the food services and drinking places industry in July 2023.

article thumbnail

How to Write a Restaurant Business Plan [with Sample]

7 Shifts

The management team. Speak to what sets you apart from the pack, what food you'll serve, the service style (fast-food, fast casual, fine dining, etc.) Management team. This covers the customer base you're hoping to appeal to, your position in said market, and what you'll do to catch people's eyes. Mission Statement.

article thumbnail

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. " – John Oakes, Revenue Management Solutions CEO. Slow movers tie up inventory -and the cash needed to by that inventory. For part one, click here.

2023 197