THE PROBLEM OF EFFECTIVE COST MANAGEMENT IN THE RESTAURANT INDUSTRY IN THE CONTEXT OF DEVELOPMENT TRENDS OF MODERN SOCIETY
Abstract
The article examines key aspects of effective cost management in the restaurant industry at the current stage of society's development through the prism of the specifics of integrating digital technologies into the activities of a restaurant establishment. It was found that in the era of the digital society, the integration of leading innovative information and communication technologies (from digital means of communication, document management, digital tools for accumulating and analyzing information, to digital platforms, software products, etc.) into the cost management process of restaurant establishments is of particular relevance. It was found that digital solutions in the modern restaurant industry directly affect profits due to better cost control and revenue optimization, and restaurant establishments that use technology are ahead of their competitors in the modern digital world. Improving POS systems transforms the process of managing operations and interacting with customers in the restaurant industry. It was found that the main trends in restaurant technology that create the basis for success in the restaurant industry at the current stage are: automated digital menus and self-service kiosks, augmented reality (AR) and virtual reality (VR), robotic kitchens, AI-Power, hyper-personalized experiences, smart restaurant management and IoT, rethinking the organization of events and private dining: three-seaters, eco-friendly technologies, online ordering platforms, hiring and scheduling technology, contactless and mobile payment solutions, improvements to POS systems, reservation and booking systems, food and beverage cost solutions, Wearable Tech. Digital tools that contribute to improving the efficiency of the cost management process in the restaurant industry using the example of back-of-house (BOH) are analyzed. It was found that a significant advantage of implementing digital tools in the back-of-house is the ability to easily access the restaurant's digital footprint, which stores, analyzes, and interprets data from all critical processes in a catering establishment.
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Matsenko, O., Kubatko, O., Bardachenko, V., Demchuk, K. (2021). Transformation of the RestaurantBusiness as a Result of the COVID-19 Pandemic: Improving the Security of Service and Maintaining theHealth of Human Capital. Health Economics and Management Review. Issue 3. pp. 27-38.
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Sánches-Escalante, J. M. (2021). Estrategias gerenciales para la optimización de los costos en restaurantes gourmet. Revista Gestión y Desarrollo Libre. Vol. 6(12). рр. 1-30.
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