With higher minimum wage laws, increased competition for workers, and the rising cost of healthcare, how can your restaurant get ahead?
Stock-counting frequencies vary by organization. Finding an inventory counting method that fits with your operational practices (or even one that aligns with your brand or concept) is crucial to maintaining a healthy bottom line and limiting bad surprises.
As any restaurant operator or manager knows, running the day-to-day comes with a million demands on your time. In an industry with particularly tight margins and volatility, each inefficiency and every wasted second means less profitability.
US Restaurants generate between 22 and 33 billion pounds of food waste every year. This results in an enormous environmental impact, and a big dent to profit margins. All that waste adds up. In fact, the restaurant industry throws away $25 billion worth of food every year.
The process of 3-way invoice matching is simply matching information in a purchase order (PO), a goods received note (GRN), and an invoice. Done manually, it’s quite a lengthy process, so many businesses choose to automate 3-way invoice matching to reduce administration time in accounts payable and provide valuable insights into supplier delivery and pricing compliance.