article thumbnail

How F&B Companies Can Mitigate Some of the Industry’s Biggest Risks

Modern Restaurant Management

Additionally, partnering with an unreliable supplier can lead to significant supply chain risks. Any disruptions to their business can lead to disruptions to yours, whether it’s a transportation issue or challenges procuring raw materials.

article thumbnail

Pandemic Pivots Don’t Offset Restaurants’ Need to Manage Looming Risks

Modern Restaurant Management

In this environment, smart and strategic risk management has never been more important. Independent drivers, though, should be advised to procure their own coverage. Pandemic Pivots Still in Play. Are third party deliveries making a big difference in the bottom line or just driving incremental revenue?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Serving Up Protection: Navigating Liquor Liability in the Restaurant Industry

Modern Restaurant Management

However, relying solely on liquor liability insurance may leave businesses exposed to costly risks. The Challenges of Procuring Liquor Liability Insurance The inherent risks associated with selling alcohol make obtaining the right insurance coverage both essential and expensive.

article thumbnail

FutureLog Awarded Prestigious International Standard on Assurance Engagements ISAE 3402 Type I and II Certifications

Hospitality Net

FutureLog, the leading provider of innovative cloud-based procure-to-pay solutions for the hospitality industry, is proud to announce that it has achieved the prestigious International Standard on Assurance Engagements (ISAE) 3402 Type I and Type II certifications.

article thumbnail

Synergy achieves silver EcoVadis rating

Serviced Apartments

Criteria is evaluated across 21 elements and the four pillars of environmental sustainability, human rights, ethics and sustainable procurement. Charlotte Winter, sustainability co-lead and general manager at Synergy , said: “Achieving a top 15 per cent rating via EcoVadis is a testament to Synergy’s commitment to sustainability.

article thumbnail

Key Ingredients for Effective Vendor Management in Food Service

Synergy Suite

Proactive risk management measures, such as supplier diversification, further buffer the restaurant from unexpected vendor-related challenges. Know Who To Call Effective communication is the cornerstone of vendor management, ensuring all parties stay aligned and issues are addressed promptly for seamless operational flow.

article thumbnail

Hotel insurance: Costs, coverage, and requirements

SiteMinder

Procure multiple quotes : To get the most appropriate coverage and the best deal, you should contact at least a few providers to see what they can offer. Worker’s compensation insurance provides a safety net for both the employer and the employee. Remember to read the fine print.