BMT 580 01 NCC - Management Systems

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Inventory Timeliness-Restaurant There are 5 replies:
Marco Antonio Zabaneh Students Author: Marco Antonio Zabaneh, Email: MAZabaneh@owls.williamwoods.edu   Show MyInfo popup for Marco Antonio Zabaneh
Inventory Timeliness-Restaurant Original post: Mon 10/10/2011 at 11:40 PM

Inventory for a restaurant is what makes or breaks the business.  Keeping inventory in real time for a restaurant is critical.  Restaurants need to make sure that they have enough inventory to make the necessary meals and keep customers happy.  Ensuring that when they are starting to run out of something that the supplier knows and can replace it quickly, will keep the restaurant running successful. Also, keeping close tabs on when inventory expires and getting replacement products, will help with inventory management.  Using a real-time inventory system will help restaurants to keep control over how much inventory they need to keep on hand.  Keeping too much on hand could cost them more money if it isn’t used or expires and having too little on hand could cause them to have un-happy customers.  Both being very costly to the business

Large restaurant and chains use data warehouses to trend eating patterns and are able to use the data for many different planning and reporting purposes.  Data warehouses help places like Applebee’s to increase sales and cut costs.  This helps them to individualize and customize the restaurant in each market making it more appealing to the consumer.  Data warehouses also help in labor management, developing marketing plans to increase sales, and determine estimate/actual costs of foods and different ingredients. Updates to the data warehouse need to be made daily, so that information is always up to date and accurate.  Outdated information could be very costly for the restaurant.

Having a backup plan and keeping it updated frequently could be very helpful.  If a restaurant is using a web-based inventory system and the internet goes down then the restaurant needs a backup plan. Having a place where the reports feed into where they can access them without internet connection would be helpful.  This would serve two purposes and if the internet went down, they could turn to the offline copy. 

Keeping data as accurate and timely can be very beneficial to a restaurant.  Accurate information can go a long way in determining future promotions and labor management saving the company in the long-run!

Timothy Ray Eckhardt Students Author: Timothy Ray Eckhardt, Email: tim.eckhardt@dotfoods.com   Show MyInfo popup for Timothy Ray Eckhardt
Re: Inventory Timeliness-Restaurant Posted: Sun 10/16/2011 at 2:42 PM, in reply to Marco Antonio Zabaneh

Marco,

It is amazing the way resturants collect and use data, especially with inventory.  Most resturants use a inventory system that has set ounces and pieces of every product that goes into making a order on the menu.  Inventory is then subtracted when a customer orders that paticular item.  This inventory system is what is helping resturants profitable, plus it gives them a truly accurate cost of goods sold.  You used Applebee's as an example of using this information to increase sales and cut costs.  Accurate data now gives them the opportunity to monitor and manage usage throughout their chain and manage costs they had no control of earlier.

Emily Jane McLaughlin Students Author: Emily Jane McLaughlin, Email: EJMcLaughlin@owls.williamwoods.edu   Show MyInfo popup for Emily Jane McLaughlin
Re: Inventory Timeliness-Restaurant Posted: Sun 10/16/2011 at 7:32 PM, in reply to Marco Antonio Zabaneh
Marco,
You mentioned real time inventory...how often should the restaurant update the inventory?  In my mind real time means they should update it as they go.  Is this a realistic expectation for a busy restaurant?  Most restaurants seem to be the busiest on weekends.  Do you think it would be better if they updated their inventory once or twice during the week?  
Marco Antonio Zabaneh Students Author: Marco Antonio Zabaneh, Email: MAZabaneh@owls.williamwoods.edu   Show MyInfo popup for Marco Antonio Zabaneh
Re: Re: Inventory Timeliness-Restaurant Posted: Sun 10/16/2011 at 9:08 PM, in reply to Emily Jane McLaughlin

Emily Jane McLaughlin wrote:

Marco,
You mentioned real time inventory...how often should the restaurant update the inventory?  In my mind real time means they should update it as they go.  Is this a realistic expectation for a busy restaurant?  Most restaurants seem to be the busiest on weekends.  Do you think it would be better if they updated their inventory once or twice during the week?  
Emily,
 
I definately think that is is realistic to update inventory everyday.  If they have a rush of people come in and all the chicken and fish are out of inventory they need more meat the next day. By having this contact with the supplier will ensure they are ready for business the next day. These days internet and technology can make this have very easy.  Like Tim said by measuring ounces and pieces going into a meal it will help the restaurant to always be prepared and ready for business!
Nichole Sheree Williams Students Author: Nichole Sheree Williams, Email: NSWilliams@owls.williamwoods.edu   Show MyInfo popup for Nichole Sheree Williams
Re: Inventory Timeliness-Restaurant Posted: Sun 10/16/2011 at 7:50 PM, in reply to Marco Antonio Zabaneh
How often do you go to a specific restaurant for a specific food they prepare better than any other place in town and they are out of it? Not something that happens very often and that is because of all the reasons you state in your post Marco. The importance of inventory timeliness in the restaurant business is crucial to the success of that restaurant. If they are constantly running out of items on their menu people are going to stop going and find somewhere else to dine out at that doesn't have that problem.