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Survey finds the food and beverage industry in poor shape
June 29, 2016
Inefficiency and carelessness are plaguing the food industry, according to a survey of more than 200 independent restaurants and chains by collaborators Oracle Hospitality and Technomic. The survey focused on how individual businesses manage labor and inventory — and the results were less than desirable.
Oracle and Technomic found that 66 percent of independent operators spend an exorbitant amount of time (three hours a week) managing inventory, and 60 percent do not use forecasting systems to reduce waste, automate stock management and create a more accurate ordering process.
The report said that one-third of the polled food and beverage businesses found food waste and over-portioning to be their two biggest factors for loss. Half of the independent operators polled said they do not track prepared waste, despite this being a top concern.
The report emphasizes the need for responsible management of labor and inventory, saying that it is the key to long-term survival for restaurants.
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Oracle
Oracle helps ambitious food and beverage providers transact in new ways, prioritize guests, and deliver great experiences. With Simphony Cloud, an open and extensible digital transaction platform, NetSuite for business management, and CrowdTwist for loyalty, thousands of operators worldwide automate operations and elevate personalized guest experiences with Oracle.
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