Metrics for the Restaurant Industry
A recent article in CIO Insight on Ruby Tuesday: Feasting on IT Metrics outlined some metrics that could be very useful to the restaurant industry at large. In brief, they were:
- Capital Expenditure as a Percentage of ROI
Is it worth even starting the project? - Voided Orders
This is a good loss performance metric. - Number of credit card transactions
This is simultaneously a performance metric and a loss prevention metric, since credit card payments not only constitute a percentage of business, but potential chargebacks. - Tip Percentages
As well as an indicator of customer service, this can be a leading indicator of customer financial health. (Customers who feel financially secure are more likely to leave a healthy tip.) - Coupon Redemption Rates
An indicator of profitability, it's also a leading indicator of customer financial health.
While a short article, it is an interesting one.
Posted by the doctor at 5/28/2009 1:01 PM 
Categories: Supply Chain, Miscellaneous
Tags: Restaurant Metrics
Categories: Supply Chain, Miscellaneous
Tags: Restaurant Metrics
Based on my time servicing the fine-dine restaurant industry, the number one source of leakage is bartenders. Many veteran bartenders feel that part of their just compensation is a regular skim from the till. Stopping this is virtually impossible, but mitigation techniques include video cameras, customer displays, optical- or magnetic-key recognition for every cash draw opening, metered liquor dispensing systems, and so on. They're all essentially ineffective.
In practice? A bar is only as good as the bartender, and the bartender is only as good as the systems supporting him. A shared cash drawer is a necessity in a busy bar, and there go your fancy controls right out the window. Furthermore, if a bartender can't skim, he'll leave for greener pastures, along with your customers. Keeping the skim reasonable is really the only thing you can do.
Thanks. Though this article is short, it is very informative. It gives food for thought. But where is it possible to find more precise definitions of such metrics. The value of the metrics you give is that they fit for a particular field.