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restaurants
Food is money, yet around 22 to 33 billion pounds of food waste is generated by U.S restaurants alone each year. The primary reasons behind these shocking figures are over-purchase and lack of adequate storage. Speaking statistically, food wastage is one of the main drivers of diminishing revenues and elevated food costs, which lead to restaurants eventually shutting down.
The added disposal and labor costs associated with food wastage are among the largest expenses for restaurants. However, they don’t have to be. With proper planning and efficient inventory management, you can reduce food wastage significantly.
Portion Control
It’s vital to keep a check on the portion size of the items you serve. This helps you reign in food costs and minimizes food wastage on the customer’s end. You can control size by using equipment such as ladles and scoops when preparing plates.
Another efficient way of keeping food costs in check is the standardization of recipes. A well-designed recipe management software can help you determine the precise ingredient amounts required for each dish.
Adequate Storage
Another major cause of food wastage in restaurants is inadequate storage. When raw materials aren’t stored properly, they go bad and have to be thrown out to prevent fresh food cross-contamination. Food items also need to be stored at the proper temperature.
Another factor that’s critical to efficient restaurant inventory management is keeping tabs on the shelf-life of perishables. Food items have a certain shelf life and shouldn’t be consumed after that. The FIFO (First-In-First-Out) approach, where raw materials that are purchased earlier are used first, can work great here.
Inventory Management Software
When it comes to minimizing food wastage, a robust food inventory management platform is a restaurant’s best friend. Integrated with a recipe management module, a well-designed inventory management software provides you advanced reports on when to purchase, what to purchase, and how much to purchase.
It can also be programmed to send you reminder alerts to purchase items when stocks reach a particular level. Not only does it prevent you from overstocking, but it also helps you avoid the embarrassment of certain menu items going out of stock.
SweetData Concepts offers custom inventory management software for food industry, labor scheduling platform, recipe structuring, and much more at reasonable rates! Contact us today for expert consulting services for your food and beverage business!
You can’t ignore industry trends if you wish to succeed in your business. For those in the food and industry, this means catering to the changing demands of consumers and adapting the safest and healthiest practices to continue providing food services that will be a hit among customers.
In the first blog of this two-part series, we discussed a few trends the food and beverage industry should expect to see next year. Here are some more trends you know about.
Keto Foods
The keto diet has seen a revival in the last few years. The high-fat and low-carb diet is seen as a quick and effective way to lose weight, which explains its growing popularity. The food and beverage industry cannot ignore this, considering the enormous market for keto foods and products.
In 2021, the keto market is expected to expand even more. Several restaurants are already offering special keto menus, and many food manufacturing companies have been producing keto-friendly products. Since keto foods mostly include widely available items, there’s a high chance of more restaurants and food chains getting on board this trend.
Global Cuisines
Gone are the days when consumers wanted “authentic” American flavors alone. Today, people want to try out new flavors and get a taste of what’s served beyond the US borders.
For the food and beverage industry, this means taking more creative liberty and introducing international foods and flavors. Americans particularly enjoy Chinese, Mexican, and Italian cuisines. Japanese, South Asian, and Middle Eastern food have gained popularity too in recent years, thanks in part to social media and the mouthwatering food pictures and vlogs consumers get to see online. 2021 is all about global cuisines.
Instagrammable Meals
Speaking of social media, there’s something to be said about “instagrammable meals.” The popular picture-sharing platform has led to a new trend of visually appealing foods and drinks deemed worthy of being photographed and posted online by consumers.
In recent years, this trend of instagrammable food has exploded. Every day, millions of people take out their phones to capture the perfect picture of their meal. The more visually attractive it is, the more they’re likely to post it on their Instagram account. For the food and beverage industry, especially restaurants, this is a great way to market their products online and attract more customers.
In 2021, it’s time to get creative with your food aesthetics. Add more colors and textures to your food to make it stand out. Make use of unique ingredients. Come up with crazy (but appetizing) food combinations. Instagrammable food isn’t something that’s dying out anytime soon.
SweetData Concepts can help you manage your restaurant successfully and keep up with industry trends with its food and beverage inventory management software. Reach out to us today for more details about our restaurant management platform.
The restaurant industry is highly unpredictable and can be influenced by various factors outside the restaurant owner’s control. Poor economy, falling grocery prices, and health concerns can all lead to a decline in restaurant visits resulting in decreased profitability or, in some cases, a loss for the restaurant.
What Is Inventory Control?
One of the key factors that impact the profitability of any restaurant is inventory control or inventory management. An average restaurant spends around 25 to 35% of its operational budget on inventory every year.
Inventory control is the process of managing the available stock and ensuring the restaurant has enough quantities of food ingredients, such as seasoning, garnishes, drinks, meats, and vegetables, as well as other items required to prepare and present the food such as napkins, straw, disposable cutlery, and paper placemats.
Every restaurant must have a proper inventory management process to keep track of the items used each day, how much is being ordered, and how much food is wasted. The process can include everything, from the initial order for raw ingredients to the final order fulfillment of the customer. Inventory control also allows restaurants to maintain the right balance of stock by taking into account various internal and external factors that impact the supply and demand.
Importance of Effective Inventory Control for Restaurants
The more effective a restaurant’s inventory management system is, the smoother their food production and customer service processes will be. By keeping better track of the inventory through various policies and streamlining the process of ordering new items, restaurants can prepare more food, serve more customers, and replace used supplies quickly. Inventory control also helps maintain minimum inventory levels, which will help keep the costs down, improve the liquidity situation, maximize profits, and keep the customers satisfied by avoiding running out of key ingredients.
Better Inventory Control Through Inventory Management Software
With the recent advancements in modern technology and the introduction of innovative IT solutions for restaurant management, restaurant owners can incorporate inventory management software to ensure effective inventory control. The software allows them to keep track of the stock in real-time and forecasts demand to avoid running out of various items.
Inventory management software also prevents food wastage by ensuring there is no double ordering and keeping the staff aware of when certain items will expire. The software also helps cut labor expenses by reducing the number of hours spent manually updating the inventory database!
SweetData Concepts can help you boost your bottom line and manage your restaurant business successfully with our advanced food and beverage inventory management software. Reach out to our team today for more details about the features of our exclusive restaurant management platform and the latest restaurant industry trends.
Mismanaged inventory costs retailers trillions of dollars globally. An estimated 81% of consumers experience situations where the product they’re looking for is out of stock, which can result in lost sales and increase the risk of losing customers for the business.
Inventory management is one of the biggest issues faced by restaurant owners. Poorly managed inventory can result in increased costs and food wastage for the restaurant. Even the most experienced restauranteurs experience challenges when it comes to keeping track of inventory. Effective inventory management can ensure efficient day-to-day operations and provide better cost control over the whole operation.
Here are some expert tips for restaurant inventory management form successful restaurant owners in the country:
Establish Strict Policies and Procedures
According to statistics, 75% of the restaurants struggle with making a profit because of the increasing cost of food. The first step to ensuring effective inventory management is establishing strict policies and procedures regarding the use of food products and the reordering process.
Restaurant managers should assign the task of inventory management to a responsible person. But they should also make sure they verify this work regularly to ensure they’re following all the established protocols.
Maintain A Consistent Schedule
Restaurants allocate about 25 to 35% of their operating budget on food purchases. Not taking proper inventory of the items that need to be ordered can result in over-ordering and increases the operational costs.
Following a set schedule allows restaurant owners to accurately understand and keep track of all the supplies and ingredients that are utilized during a specific period. A consistent schedule enables them to check different items, such as perishables, non-perishables, and bulk-order items regularly. This way, they’ll be able to identify patterns of usage and adjust future orders accordingly.
Get the Right Software
Technology is an essential component of the modern restaurant business and can be incorporated into all aspects of running a restaurant. Advanced technological solutions for filing invoices can save restaurants 50% of the labor required for processing them.
The biggest benefit of technology is keeping accurate and up-to-date data on the inventory through advanced inventory management software. Getting the right software for your business will help you easily keep track of all the items in your inventory, whether you have a small restaurant with a few dozen items or a larger operation with several hundred inventory items.
SweetData Concepts can help you manage your restaurant business successfully and keep up with the latest industry trends with our innovative food and beverage inventory management software. Reach out to our team today for more details about our exclusive restaurant management platform.