How Recipe Management Helps With Accurate F&B Sales Forecasting

How Recipe Management Helps With Accurate F&B Sales Forecasting

The accuracy with which a business can forecast future sales directly impacts its operational costs. This is especially true for food and beverage sales because of the perishability of the inventory — you don’t want to stock up on ingredients that might get wasted because of low demand. On the other hand, you also don’t want to miss out on a bump in demand by not having enough ingredients in stock. The solution to this dilemma is Recipe Management. 

Entertainment venues across the world have been using the comprehensive Parafait eZeeInventory module from Semnox, for everything from seamless Stock Control to Purchase Order & Receiving Process Management. Now, the latest Recipe Management add-on to this module makes it possible to forecast future sales, plan for them, and manage F&B stock with a level of accuracy that was not possible before! Let’s take a look at how this works.

Using Historic Data to Forecast Future F&B Sales

Recipe Management is an add-on to the Parafait eZeeInventory module, which is integrated with the Food & Beverage sales module at the POS. The add-on uses historic sales data to give users the ability to forecast, plan, and prepare the sales forecast of food and beverages. Let’s take the example of a pizza counter in the food court of an amusement park. The Recipe Management add-on will use past sales data to tell you the days or weeks during which you can expect more pizzas to be sold and which types of pizzas will sell more.

This type of forecasting is made possible by tracking inventory at the level of ingredients for each food or beverage sold, thereby helping businesses manage stock purchases effectively. The add-on supports a multi hierarchy Bill of Materials structure — so our hypothetical pizza counter will be able to forecast how much of each ingredient is needed to make pizzas for the coming days and weeks.

Kitchen Print Notes (KPN) for Food Preparation 

The Recipe Management add-on gives you the option to raise both manual and automated Kitchen Print Notes (KPN) to manage preparation and inventory. These notes are displayed in the Kitchen Production Sheet, where the information can be updated if needed by manually entering the actual quantity used in the preparation. The system automatically handles the deduction of the inventory during the sales process.

Any wasted products can be updated in the waste management section and they will be deducted from the stock inventory for the given day. This ability to track wastage during the preparation and sales process further helps save operational costs that would otherwise slip under the radar. And so, the Parafait eZeeInventory module is now more powerful with the Recipe Management add-on, giving you the opportunity to fine-tune the stock purchasing process and streamline your business operations. 

Do you manage an entertainment venue that needs F&B sales forecasting? Do you wish you could reduce wastage by having greater control over the stock purchase process? Then the Parafait eZeeInventory module with its Recipe Management add-on is the answer to your problems! Reach out to a Semnox representative to learn more — email us at sales@semnox.com or call us.