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Here's how you can optimize decision making for successful food and beverage operations.

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In the competitive world of food and beverage operations, making smart, strategic decisions is crucial for success. Whether you're running a cozy cafe or a bustling bar, the choices you make can have a significant impact on your business's bottom line. Optimizing your decision-making process is not just about choosing what's on the menu; it's about considering every aspect of your operations, from supplier selection to customer service strategies. By focusing on key areas and adopting a systematic approach, you can enhance your operations and set your establishment apart from the competition.

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Mohamed Abdel Ghany

Corporate Revenue Management @ Taiba Investments | Skilled Revenue Professional | Hotelier Middle east shortlisted
M. Scott Davis

COO | CEO | CFO | Founder | Board Member
Lucas Sandrini

Body Shop Process Planning Analyst | BMW Group Brasil | Electrical Engineer | Project Management

1 Data Analysis

Harnessing the power of data analysis can significantly improve your decision-making process. By tracking sales patterns, customer preferences, and inventory levels, you can gain valuable insights that inform strategic choices. For example, if a particular dish is consistently a top seller, you might consider featuring it more prominently or exploring variations to keep customers interested. Similarly, analyzing slow-moving inventory can help you adjust orders to reduce waste and increase efficiency. Utilizing point-of-sale systems and inventory management software can make data collection and analysis more streamlined and accurate.

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Mohamed Abdel Ghany

Corporate Revenue Management @ Taiba Investments | Skilled Revenue Professional | Hotelier Middle east shortlisted
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Drawing from your expertise in revenue management, establishing a routine?Food & Beverage revenue meeting?to discuss analytics can indeed be instrumental in boosting performance and profitability. By analyzing F&B metrics by meal period and comparing weekday and weekend performance against historical data, you can gain valuable insights. This practice not only enhances the precision of forecasting but also fosters a collaborative environment where the F&B team and kitchen chiefs can contribute innovative ideas for menu engineering, ultimately driving higher revenue and profit margins. Engaging all stakeholders in this manner ensures a comprehensive approach to improving the F&B operation’s success.

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M. Scott Davis

COO | CEO | CFO | Founder | Board Member
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That is a good start from an analytics point of view. There is an ‘and’ here: augmenting the customer data with seasonality, weather, geographic and demographic to better understand customer behavior. May also consider adjacent social data to account for influence on buying behavior. And determine brand strength along with marketing activity data to drive influence in weak areas. Don’t forget targeted survey data to help fill in the blanks on behavior and presences.

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Logan Miller

Business Analyst
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Starting an analysis with the obvious environmental effects is a good start but real value is created with domain knowledge. Being able to judge the correlation between an action and an outcome. For example, a boost in weekly sales following a new marketing campaign launch seems pretty straightforward, but being aware of the potential effects around your business would make you aware of a local event going on that drove traffic. If your analysis measured internal events to weekly sales changes, you would want to include external events as well to properly measure the value created by internal efforts.

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2 Customer Feedback

Listening to your customers is vital. Their feedback provides direct insight into what's working and what isn't. Establish a feedback system that encourages customers to share their experiences, whether it's through comment cards, online reviews, or face-to-face conversations. Take note of recurring comments or suggestions and consider how these can be translated into actionable improvements. Remember, a customer who feels heard is more likely to become a loyal patron, so treat their input as valuable data for refining your food and beverage offerings.

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Lucas Sandrini

Body Shop Process Planning Analyst | BMW Group Brasil | Electrical Engineer | Project Management
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1)understand customer needs through market research, collection of feedback and contact with stakeholders 2) data analysis and product structuring, identifying the main risks and opportunities 3) definition of the product backlog, project deliverables, definition of the work team according to the characteristics of the product backlog and definition of the project sprints.

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3 Team Input

Your team on the ground often has the best perspective on what's really happening in your operation. Regularly engage with your staff for their observations and suggestions. They can provide real-time feedback on everything from menu items to operational efficiencies. By fostering a culture of open communication, you not only empower your employees but also tap into a wealth of practical knowledge that can lead to improved customer service and smoother daily operations.

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4 Market Trends

Staying abreast of market trends is essential for keeping your food and beverage operations fresh and relevant. This means not only following culinary trends but also being aware of broader shifts in consumer behavior, such as the growing demand for sustainable and locally-sourced ingredients. Adapting to these trends can attract new customers and satisfy existing ones who appreciate your commitment to staying current. Regularly review industry publications and attend trade events to keep your finger on the pulse of the market.

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5 Financial Planning

Effective financial planning is the backbone of any successful food and beverage operation. This involves budgeting, forecasting, and carefully monitoring your cash flow. Make sure you understand your cost structure, including fixed and variable costs, so you can price your offerings appropriately and maintain profitability. Regular financial reviews will help you identify areas where you can cut costs without compromising quality or service, as well as opportunities for strategic investment in your business.

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6 Technology Leverage

Embracing technology can greatly enhance decision-making in food and beverage operations. From reservation systems that optimize seating capacity to digital inventory tracking that helps prevent stockouts, technology can streamline operations and provide actionable insights. Consider investing in customer relationship management (CRM) software to personalize guest experiences or using social media analytics to understand the effectiveness of your marketing campaigns. By integrating technology into your strategy, you can make more informed decisions that drive success.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Here's how you can optimize decision making for successful food and beverage operations.

1

2

3

4

5

6

7

1 Data Analysis

2 Customer Feedback

3 Team Input

4 Market Trends

5 Financial Planning

6 Technology Leverage

7 Here’s what else to consider

Food & Beverage Operations

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Here's how you can optimize decision making for successful food and beverage operations.

1

2

3

4

5

6

7

1 Data Analysis

2 Customer Feedback

3 Team Input

4 Market Trends

5 Financial Planning

6 Technology Leverage

7 Here’s what else to consider

Food & Beverage Operations

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