Restaurants carry
out the process of sales forecasting. Many of them follow a regular process of
going through the sales report from the previous year and choose a specific time
frame in order to know the performance. Now keeping the report in mind and
setting it as a benchmark, you can check your sales performance for the current
year for the same said time-frame.
The issue with this
process is that there are a number of factors that result in growth and failure
of a business. Just by looking at the sales report for last year will not give
you all the information. Might be a huge impact on the sales of your business
by factors like local or international events, holidays, location of your
restaurant, and weather conditions. When you consider all such factors into
your report, then you will be able to come up with a sales report which is more
accurate. Machine Learning is something that helps with such a thing.
AI Used to Reduce Food
Waste
Wastage of food is
not a personal issue of a restaurant. It is a global issue that affects the
environment and has to be tackled by the collective efforts of restaurants,
businesses, suppliers, and yes, customers too.
Now when we look at
things from the perspective of the restaurants, checking this issue is good for
them as they will be able to control their expenses and save money.
It is observed
that, when a restaurant gears up to spend even a single dollar towards reducing
the wastage of food, they end up getting seven dollars back on their
investment. Sounds good, right!
Start thinking
about the fact that how much food wastage can be reduced when restaurants can
make use of forecasting! You can plan your inventory stocks by making use of
historical data of sales and weather conditions. This will help you buy things
that you will actually need to meet the needs of your customers. This single
step helps them to get rid of the risk of spending unnecessarily on the raw
materials.
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