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Forecasting for Restaurants: Implications for Inventory and Labor

Restaurant365

Forecasting for restaurants is estimating key metrics like future sales, customer traffic, or menu item ordering mix based on historical sales data, economic trends, or market analysis. How to forecast your restaurant inventory. Inventory Projections. Looking at Past Years and Seasonal Trends. Profit expectations.

Inventory 145
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7 Key Features You Need in a Bar POS System

Lavu

A state-of-the-art restaurant POS System, specifically tailored for bars and restaurants, streamlines transactions, inventory management, and customer service, ensuring that business owners can focus on what they do best—serving their patrons. That’s why inventory management is one of the most important features of a good bar POS system.

POS 164
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Why Restaurant Inventory Management with Excel Doesn’t Work

Xtra Chef

Restaurant inventory management with Excel takes too time and can lose you money. Inventory management with Excel in restaurants is a common food cost control method that helps you order the right amount of food at the right time to minimize waste, reduce food costs, and maximize profits. Here’s a better solution.

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Menu Development: 12 Steps for Success

Apicbase

Whether launching a new concept or expanding into a different market, menu development is critical for a restaurant’s success. That means balancing brilliant ideas with practicality and taking the time to consider all variables that can impact food costs , menu scalability, and customer first impressions. What is Menu Development?

Menu 52
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Seven Traits of Successful Restaurant Owners and Managers

7 Shifts

This process includes focusing on your daily finances , such as cash flow, payroll, and inventory. Invest in Technology Accounting and inventory management software are just a couple of the technologies that small business owners should invest in. Spotting trends and adding them to your menu can also help you succeed.

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12 Tips to Increase Catering Profits This Busy Season

Cheetah

The busy season is underway, and for caterers and restaurants it is the biggest opportunity in the past two years to boost sales and make a hefty profit. Most travel and social distancing restrictions have been lifted and supplier indications point to a record breaking catering season. Reading Time: 4 minutes.

Catering 148
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Giving Your Business a Restaurant Prime Cost Tune-Up

Restaurant365

Your CoGS is made up of the products you purchase to make the menu items you sell. To calculate your CoGS totaled during a given period, you can use the following formula: Beginning Inventory + Additional Purchases Made During the Period — Ending Inventory = CoGS. CoGS (Cost of Goods Sold). Reevaluate Your Cost of Labor.