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How to Avoid the Top Seven Restaurant Inventory Management Mistakes

Modern Restaurant Management

Mistake #1: Inconsistent Counts To ensure inventory information is useful and accurate, schedule routine counts. Forecasting tools enable managers to purchase food, beverage, and supplies at the right level. Restaurant-specific accounting technology automates the journal entry process.

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How to Read a Restaurant Profit and Loss (P&L) Statements

7 Shifts

Boost profits on food and other items As you review your restaurant P&L regularly, you can see which areas of your business are performing well and which could be improved. Reviewing and optimizing staff schedules can make a big difference. You may need to adjust your staff schedules to align better with peak dining times.

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Understanding Restaurant Finances & Financial Statements in 2024

7 Shifts

or 70% This means that the restaurant's prime costs account for 70% of its total sales. Additionally, use restaurant scheduling software to match staff levels to customer demand, avoiding overstaffing during slow periods. Having the right schedule ensures you aren’t paying employees to stand around when business is slow.

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F&B Trends for 2021

Modern Restaurant Management

This comprehensive annual report identifies key influences in restaurants, hotels, food, beverage, and hospitality marketing. So, in response, it’s imperative that restaurants realign their budgets and labor structures to account for increased third-party service even when in-person dining returns.

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Ultimate Guide To Restaurant Cost Of Goods Sold (COGS) in 2024

7 Shifts

The cost of goods sold (COGS) is a restaurant metric that shows you the cost of all ingredients used to prepare a menu item, including the food, beverage costs, and other direct expenses. Start by counting all the food, beverages, and other ingredients in your inventory. What is cost of goods sold (COGS)?

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2023 Outlook: Trends and Challenges Restaurants Will See, Part One

Modern Restaurant Management

Restaurant labor overall, however, may continue to morph over the coming years into more of a gig economy rather than the stable workforce of old aided by technology, especially in fast food and fast casual. Workers will access apps to take a shift or two rather than working a consistent schedule.

Pricing 167
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MRM Research Roundup: Top F&B Trends to Watch

Modern Restaurant Management

2023 Trends at a Glance Persistent Planners : When life gets busy, DoorDash’s schedule ahead feature makes it even easier to check everything off your list and ensure it arrives right when you need it. Walk-in parties accounted for almost three-quarters of restaurant tables and were twice as common as reservations.