Cost Control in Food & Beverage: How Technology Can Help Maximize Profits
Great food and great service, delivered consistently, are at the heart of any successful restaurant business.
But success — and survival — also depend on being profitable. Every restaurant owner, whether independent or part of a large chain, understands that labor and inventory costs represent a significant variable expense to the business. Keeping control of those costs is as critical as the culinary magic that occurs in the kitchen. After all, how can a restaurant expect to make a profit when they are regularly overstaffing or running out of ingredients?
The same goes for loss prevention — if a restaurant owner is losing money through shrinkage or waste but has no way of tracking it, how can the business succeed?
In this research report, Oracle Hospitality partnered up with Technomic to survey more than 200 independent operators and chains. They wanted to understand how those operators are managing the task of controlling the costs of labor, inventory, and loss prevention. Where do their priorities lie? What are their biggest issues? How can the task of managing costs become more efficient?
By sharing the findings of the research with food and beverage operators globally, Oracle Hospitality aims to show that managing labor, inventory, and loss prevention is a global challenge that can be met by putting cost-control technology at the very heart of your operation.