Margins for restaurants are contracting due to inflation. Everything from the price of ingredients to labor are creating an environment for restaurants where their profits are quickly eroding.
Lucky for you, Dining Alliance offers Food Cost Management software FREE to its members. Our goal is to see our restaurant partners succeed and that means providing them with the tools needed to streamline their operations, increase profit and give them the insights to pivot quickly as the market changes.
Below are three tools with our Food Cost Management suite designed to easily help you fight inflation and run a more profitable restaurant!
Ingredient Price Trends Reports
Prices for your ingredients are changing so fast that it’s hard to keep up with. Food Cost Management gives you the reports to see these price changes in real time. Stay on top of inflation by tracking ingredients from all your vendors. Food Cost Management highlights price changes over time so that you can make more strategic decisions about your menu, your recipes and your purchases.
Cost of Goods Sold Reports
If you’re calculating your COGS today, you’re most likely getting these numbers at the end of the month. The problem with this process is that if your COGS were high for that month, it’s too late to course correct and do anything about it.
Food Cost Management gives you a WEEKLY COGS report allowing you to course correct before it’s too late. We’ll even show you which categories and items are pushing your COGS up and provide you with a budget to help with your purchasing.
Knowing your COGS in real-time puts you in the driver’s seat to make immediate changes BEFORE it’s too late.
Understanding your margins on individual plate costs is difficult when times are good. When ingredient prices are constantly rising, it’s even more important to truly understand the menu items that are bringing in money and those that are costing you.
Building a recipe in Food Cost Management solves these problems. As new invoices come into the system, ingredients prices are updated automatically allowing you to know exactly what a recipe is costing you and where you may need to make changes in order to maximize profits.
If you’re ready to start taking control of costs and combat inflation, get set up with Food Cost Management for FREE!