Sculpture Hospitality

JUNE 8, 2021

Pricing the drinks in your bar can be tricky. Set your liquor prices too high and you run the risk of driving customers away, but set your drink prices too low and you may not be bringing enough money in to even cover your costs, especially if volume fluctuates.

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Modern Restaurant Management

MARCH 2, 2022

Restaurant menu prices continue upward as the U.S. Operators are being forced to make changes in an effort to navigate the price escalation. Technomic also reported that 45 percent of consumers say they usually pick restaurants with lower prices. Department of Labor reported an inflation rate of 7.5 percent on an annual basis.

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Sculpture Hospitality

JANUARY 4, 2023

A bar inventory spreadsheet can be used to help you manage your bar's inventory and costs. While it’s not as effective as an inventory management system , with the right setup, you can keep track of stock levels, pricing, and other important information related to running a bar.

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Sculpture Hospitality

APRIL 26, 2021

In our previous blog, we discussed how to calculate your bar inventory usage through the use of a simple calculation and a bar inventory management system. This inventory usage data gives your bar insight into how your business is performing, with insightful data such as pour cost, product shrinkage, pricing and much more.

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Sculpture Hospitality

MARCH 21, 2023

As a business owner or manager, one of your top priorities is ensuring that your inventory is properly managed. Without accurate and up-to-date inventory records, it's impossible to make informed decisions about purchasing, pricing, and sales.

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Hot Schedules

JULY 8, 2021

The Problems with Managing Inventory in Spreadsheets. U sing spreadsheets for hospitality inventory management is inaccurate, inefficient, and unwise. Learn how poor inventory management could be making operators crazy and hurting your business. You’d be hard-pressed to find an operator who actually likes taking inventory.

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Modern Restaurant Management

APRIL 10, 2024

Adapt to Growing Price Fatigue Since the pandemic, controlling food costs has been a major challenge for restaurant operators. When prices for staple ingredients like chicken rose dramatically in 2023, restaurant operators were forced to increase their prices. Full-service menu prices climbed 4.5

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ChowNow

FEBRUARY 11, 2020

After all, the delivery giant more than doubled what they call their “restaurant inventory” in the past quarter. While customers might initially be delighted by the array of choices they have, the prices will leave them shocked and disappointed. Because of this, both consumers and restaurateurs pay the price.

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Restaurant365

MAY 17, 2022

Food inventory management goes way beyond counting the items on the shelves. The most important part of inventory management is understanding how the amount of product relates to your profit margin. Why a POS system is not suitable for inventory management. Best practices for effective food inventory management.

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7 Shifts

JUNE 4, 2021

Inventory turnover ratio. Ideal menu price. Your CoGSs is an essential number to have when determining your menu prices, inventory and impacts your net profit margin. To calculate your COGs, you need the following numbers: Beginning Inventory, or the value of the inventory you start with. Break-even point.

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Restaurant365

SEPTEMBER 10, 2021

However, in between all these tasks, it is critical to devote time and energy into accurate and consistent inventory management. Inventory management tracks what’s going in and out of your restaurant for a specific period, and what product is in your restaurant at any given time. Let’s dive into some helpful tips.

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Restaurant365

JULY 9, 2020

Restaurant inventory management is the process of monitoring the food and beverage ingredients in your restaurant. Monitoring your inventory documents what food and beverage product is coming into your restaurant, what is leaving your restaurant as product sold, and what remains on your shelves and refrigerator. Sitting Inventory.

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Mad Mobile

FEBRUARY 26, 2024

Are you keeping a close eye on your beer, wine, & liquor inventory costs? It also has one of the most complex stock lists. Because liquor, wine, and beer have such wildly varying prices, it pays to keep tight controls on ordering and inventory. Operators who calculate their cost of sales add 2–10% to their bottom line.

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Apicbase

OCTOBER 28, 2022

If CoGs and overheads rise due to inflation, your menu prices should follow. That way, you can keep price increases minimal. In normal circumstances, when menu prices have to be adjusted, it is usually done strategically and with great caution. Drastic price hikes are the last resort for restaurants.

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Restaurant365

JULY 21, 2021

When it comes to restaurant inventory, there are a lot of moving pieces. Understanding how to master restaurant inventory management is an invaluable skill. Your inventory control tracks what is coming in and out of your restaurant and what is left over during a certain period of time.

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Modern Restaurant Management

JANUARY 15, 2024

Is inflation still driving wing prices? The price of many staple items is continuing to increase throughout the beginning of this year. Operators need to invest in a back-of-house technology system that simplifies daily tasks for them, such as inventory and scheduling.

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The Restaurant Times

FEBRUARY 7, 2023

Menu pricing is one of the most underestimated aspects of restaurant management. If your customers don’t think the prices on your menu are reasonable, how great your concept or your food is won’t matter much. This is where the concept of dynamic pricing comes in to help restaurants! What Is Dynamic Menu Pricing?

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Restaurant365

AUGUST 4, 2020

You invest a large amount of your budget in inventory. When that inventory is wasted, stolen or spoiled before it’s sold, it must be written off as an expense in the books. Integrating inventory management with accounting facilitates better inventory control. What is restaurant inventory management?

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Restaurant365

APRIL 14, 2020

Successful restaurant operations, in any kind of economy, depend on well-managed restaurant food inventory. Much of the typical food and beverage inventory in restaurants tends to have a relatively short shelf life, making accurate inventory numbers essential to run a functioning kitchen, make economical orders, and adapt to long-term trends.

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The Restaurant Times

JUNE 6, 2023

Restaurant management software revolutionizes food establishments’ operations by providing efficient tools to manage inventory and control costs. With the complexities of running a restaurant, tracking inventory manually can be time-consuming and prone to errors.

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Restaurant365

OCTOBER 16, 2019

When most restaurant owners think about how to manage restaurant inventory, they think of food cost control. For restaurant owners, inventory control is closely related to accounting and food cost management. The nuts and bolts of restaurant inventory management. Inventory tracking also includes product transfers between stores.

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Apicbase

APRIL 18, 2024

A restaurant’s raw data includes sales numbers, inventory data, ingredient pricing, recipe quantities and units, and financial figures. For example, a regular report on your inventory variance tells you the difference between your actual and expected inventory.

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Lavu

NOVEMBER 17, 2023

By staying on top of profit margins, you can make informed decisions about pricing, portion sizes, and operational costs, thereby improving your profit margins. Therefore, exploring effective ways to increase sales and carefully managing expenses, pricing, and menu offerings become vital strategies in maintaining a healthy profit margin.

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Modern Restaurant Management

JANUARY 31, 2024

Despite challenges including inventory costs, commission fees and staff turnover, many restaurant owners are expressing optimism about moving forward, according to TouchBistro’s 2024 State of Restaurants Report. What can restaurant operators do to better handle inventory and labor challenges?

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Restaurant365

MARCH 10, 2020

When you think of your restaurant finances, do you think of your inventory? Your restaurant inventory management is an oft-forgotten component of your finances, but the amount of product you have on hand represents a large part of your budget. What is Restaurant Inventory Management? Sitting Inventory.

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The Restaurant Times

JULY 20, 2020

As inventory is one of the most important aspects of a delivery-only restaurant, there are some key inventory metrics that cloud kitchen operators must track for running a profitable business. Restaurant Inventory Metrics You Should Know While Running A Cloud Kitchen Business. Cost of Goods Sold (CoGS).

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7 Shifts

AUGUST 6, 2021

Staff scheduling, inventory management, menu analysis , guest satisfaction, profitability, and so much more rest on the shoulders of accurate restaurant forecasting. On a micro level, forecasting helps a restaurant plan for inventory orders and how many employees need to work each shift to make and sell food. Inventory Management.

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Evergreen

MAY 30, 2023

Determining the right menu prices is crucial to keeping your business open as a restaurant or bar owner. You want to set prices that ensure profitability, attract customers, and remain competitive. But with so many factors to consider, […] The post How to Simplify Pricing Calculations for Your Bar appeared first on Evergreen.

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Izettle

MARCH 11, 2021

Inventory management is a way for business owners to track the products or goods that they’re going to sell – from sourcing raw materials to storing and selling items in a store. Why is inventory management important? Reliable inventory management can be one of the most valuable assets for a small business. So how do you do it?

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Restaurant365

NOVEMBER 5, 2019

Food cost is heavily influenced by your inventory management. With the restaurant industry’s notoriously razor-thin margins, controlling food costs — and managing your inventory — are essential for a healthy bottom line. There are many opportunities within the inventory lifecycle to apply efficient food cost controls.

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The Restaurant Times

NOVEMBER 8, 2021

You need to carefully price your restaurant menu to make it to the top and earn as much as possible. While it’s understandable that you want to make a profit, being overly aggressive with your menu pricing can drive the customer away. It is about the right balance when applying your pricing strategies. .

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Apicbase

JANUARY 4, 2023

The cost of ingredients and other materials has gone up, making it necessary for restaurateurs to find creative ways to adjust their pricing and make their businesses more efficient. To manage their costs and increase efficiency, more and more food service companies are working with an inventory management system for F&B.

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Restaurant Engine

AUGUST 2, 2020

Restaurant owners implement Enterprise Resource Planning (ERP) solutions for inventory management and real-time low stock notifications. Also, when inventory levels fall below par, an ERP system will prompt a manager to re-stock, or even automatically place an order to a supplier. Stockpile : Stock value of product.

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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. Beyond the menu, we’re also seeing restaurants embrace smart inventory systems and blockchain technology to monitor and optimize the farm-to-fork narrative.

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Xtra Chef

JUNE 25, 2019

Today, we announced that xtraCHEF has reinvented restaurant inventory management software. I wanted to share some thoughts on why we built an Inventory Management product and how our offering is different than any other product available in the market today. Why Build Another Restaurant Inventory Management Software.

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Lavu

FEBRUARY 14, 2024

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.

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Lavu

DECEMBER 20, 2019

Catered specifically to those in the restaurant industry as well as to emerging small businesses, Sourcery has the specialized ordering and inventory receipt capabilities that Bill.com lacks. Bill.com Reviews and Pricing. Pricing plans range from $29 to $59 per month per user, with the latter their most popular plan. Some users.

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