Food Costing & Physical Inventory
The MAX Hospitality Food Costing Module helps you understand the relationship between the customer and the company. It helps you understand what items the customers love, and how this is related to your cost of providing each item. Of the items the customer purchases the most, which are the most profitable for the company? This allows you to target popular, high-profit items and eliminate unpopular low-profit items.
Menu Item Profitability
The Food Costing Module facilitates understanding the profit contribution of each menu item, taking into account the number of items sold. With this information, you can intelligently make menu changes and decide which items to eliminate (low volume, low-profit items), and which items to encourage, for example, with table tents (high volume, high-profit items). With the help of MAX Hospitality, understanding your costs and your customer preferences, you can better serve your customers while simultaneously being more profitable.
It is easy to compute the cost of a recipe or the cost of a menu plate, based on a recipe. The MAX Hospitality System makes entering recipes easy. The system offers various units of measure, making it easier to specify the ingredients you need for the recipe, e.g., the units of measure can be what a cook is used to, e.g., the blue measuring cup, the yellow measuring cup, etc. This provides the ultimate convenience for the restaurateur.
The MAX Hospitality System covers the requirements of more complex operations. This includes the flexibility of handling multiple costs for the same item. Costs are typically different in multi-state chains, especially for items like produce. The MAX Hospitality System includes the support of standard costs (for all properties), regional costs (for a group of properties), and property-specific costs (for the once-off case). Such detailed and accurate costs can be derived from a variety of sources. Electronic Data Interchange (EDI) is the best way to build costing data because there is no manual entry. Alternatively, the costs can be manually updated, or detailed purchase costs can be entered on Accounts Payable Invoices. The goal for our cost features is to provide the hospitality businesses the tools to easily and quickly determine profitability.
The MAX Hospitality Physical Inventory Module supports “shelf to sheet” entering of inventory counts via a tablet. The physical inventory can be entered weekly and can be used in Weekly Financial Statements or can be entered at the end of the period.