Food procurement is a key function of the food service business. As a food buyer, you can access a range of amazing vendors. Here are some food procurement tips for your restaurant to help you find and source the best products. These tips will help you make the best decisions for your restaurant’s future. Find here a list of reputable food procurement platforms.
Inventory management is one of the most important things to keep track of when running a restaurant. Inventory sheets should be regularly updated and detail everything you have on hand. It is also necessary to create a schedule for checking different items. For example, you should conduct a weekly inventory of perishable items and a monthly or quarterly inventory of bulk items.
Proper inventory management also helps you avoid over-purchasing. Most restaurants end up with more inventory than they can sell, so keeping an eye on your inventory and budget for replenishment is crucial. Inventory management can also prevent capital waste from ineffective items. If you purchase less inventory, you may have to sell your goods at a discount, reducing your profit margin and saving money.
Keep a track record of the cost of goods sold:
Keeping track of your Cost of goods sold (COGS) is critical to managing your restaurant business. Your COGS is directly related to your pricing decisions, and any mistakes can affect your bottom line. But, it can be easy – if you follow a few basic procedures, COGS should be simple to calculate.
If you are running a restaurant, you should know about KPIs for food procurement. They help you measure the effectiveness of your food purchasing process. A good KPI should be specific, measurable, and drive results. In addition, it should be easy for your team to understand. It should also have someone accountable for the results.
When deciding if it’s time to outsource food procurement for your restaurant, it’s important to weigh the pros and cons of doing it yourself. Whether the product’s quality, a better service, or increased revenue, you’ll need to evaluate which steps are best left in-house or outsourced. The pros and cons of outsourcing food procurement depend on your specific needs, so you’ll want to find a partner who understands your goals.