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Managing Inventory with Quality Data and Automation

Modern Restaurant Management

Accurate inventory management is crucial to running a successful business because it directly impacts a company’s bottom line and is key to maximizing profits. Having an accurate handle on inventory enables a business to become more resilient and know what they can sell and when they can sell it, helping mitigate out-of-stock scenarios.

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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." Data refers to both Resy and Non-Resy Users with an American Express Consumer Card in the US. Refers to Card Members with dining spend in the last 12 months.

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How Real-Time Inventory Tracking Helps Restaurants Cut Food Costs

Lavu

Real-Time Inventory Tracking offers a powerful solution by giving operators instant visibility into whats in stock, whats being used, and what needs to be reordered. With real-time data guiding inventory decisions, restaurants can take tighter control of their food costs and boost long-term profitability.

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How to Turn Your Menu into a Marketing Tool

Modern Restaurant Management

Use Strategic Placement (The Golden Triangle Rule) The middle, top right, and top left areas of the menu are the three sections that hold the most attention and are collectively referred to as the Golden Triangle. These spots should feature bestselling items to boost your sales.

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Why Building Business Credit Should Be a Priority for Your Restaurant

Modern Restaurant Management

Business Credit Creates a Valuable Asset Your restaurant isn't just your passion—it's also an asset that has value beyond its physical inventory and real estate. In industry terms, these are referred to as tradelines.) Look for net-30 accounts with food, beverage, packaging and/or equipment vendors.

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Restaurant Accounting: A Comprehensive Guide

7 Shifts

Below are some key restaurant metrics you should be tracking for your restaurant: Cost of goods sold (COGS) The cost of goods sold refers to the amount it costs to produce an item on your menu. Table turnover rate The table turnover rate refers to the number of times you have served new customers at the same table.

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Reporting Best Practices in the Restaurant Industry

Modern Restaurant Management

ERP systems streamline and automate inventory management, provide real-time low-stock notifications, allow users to download critical data, and improve overall visibility into the business. Owners and managers can justify adding or dropping menu items after referring to CoGS and P&L reports. Top menu groups, items, and modifiers.