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Digest: The Digital Age of F&B Industry with Intelligent Dashboards
Case Study: The Changing Future of Food & Beverage Industry with Powerful Dashboard
Restaurant and Bar Inventory data is key to running a business successfully. Over the period, it has been seen that the demand of the F&B (Food and Beverage) Industry is growing continuously. Even during the pandemic, the essential element of human life-the Food has seen massive growth.
This write-up discusses the case study based on the F&B sector, its challenges, solutions, and a unique perspective of tracking progress.
Keep on reading to get a detailed view of the hospitality industry with real-time scenarios.
The F&B Industry
The demand for food and beverages rises in line with the world’s population. But it does not stop here only. Consumers demand more than just meals and drinks. They are looking for a wide range of products and services.
The food and Beverage industry has regulatory guidelines to match, fulfilling consumer demands, minimizing waste, increasing margins, and being prepared for any unanticipated occurrences.
The only approach to overcome these obstacles is to restructure your business. When you use ERP software such as Odoo, you will find it much simpler to endure market demands.
The food beverage industry can be extremely demanding if not highly competitive. Hence, managers and staff need to remove the guesswork from their vocabularies and instead utilize a dashboard app or two that will be able to assist them in running the business effectively, efficiently, and profitably.
Like any other industry, the food and beverage sector can be challenging as well. s a result, managers must avoid the guesswork and instead use a dashboard app. The powerful robust dashboard helps them in operating the organization successfully, efficiently, and financially.
Purpose of Food and Beverage Sales Dashboard
Renowned organizations use Food & Beverage Revenue Dashboards to monitor the revenues. When the dashboard is used as a good business practice, the F&B sector can boost its revenue, reduce costs, and manage its brand image in the marketplace.
Generate Tech Taste in Food and Beverage Industry
As technologies are evolving, the F&B industry can manage its business margins as well.
Dashboards can help you overcome the F&B pain points.
- The Hospitality Business Intelligence dashboard helps you to understand customer purchases needs.
- It gives greater transparency with its graphical data. One can check the inventory and update it anytime or automatically.
- Dashboards will help to understand how much production a company needs to increase to meet customer demand.
- Report creation time is reduced when you use dashboards for the food industry. The F & B industry is a fast working industry, which works 24/7. Therefore, dashboards help in quick report making.
- Keep track of employees’ productivity and sales per employee with dashboards. The restaurant owner can check the performance of its staff and assign work accordingly.
Which Dashboard App to choose?
There may be multiple dashboard applications available in the market to track data visually. But which one is best for your hospitality business?
The Ksolves Dashboard Ninja App
Dashboard Ninja is a business intelligent Odoo application that displays purchase, sales, inventory, and other data through 8 animated charts. The easy-to-read charts provide a detailed graphical representation of how your business is doing and where you need to improve.
This reporting application focuses on important metrics and KPIs (Key Performance Indicators to highlight the strong and weak points of the F&B industry.
With intelligent food & beverage dashboards, you can control the complicated data and get easy visualization of your business performance on a daily, weekly, monthly, & yearly basis.
The dashboard breaks down into 5 predefined categories for the F&B sector.
Point of Sale is a day-to-day activity in the F&B industry. The powerful dashboards make the POS activities smooth with pre-defined dashboard items. The restaurant owner, cafe house manager, and others can keep track of their sale with the help of intelligent dashboards.
Users can create data snapshots to speed up the process of data interpretation. Managers can track their teams’ output on daily basis. The dashboard will include the KPIs (Key Performance Indicators), sales activities, new leads, and details that would be helpful for the restaurant industry.
In the F&B industry, maintaining stocks is essential. Doing this manually can be time-consuming and prone to human error. Dashboards help in managing Restaurant and Bar Inventory easily with visualized data charts. Out-of-stock inventory, excess inventory, Stock availability per location, and more can be checked using the high-end dashboard.
Sale is an important part of every business. Sales dashboards provide the Business KPIs, which show where a company stands in the market. Quotations, sales orders, customer count, top sale orders, and more can be calculated with the Sales dashboards in the F&B industry.
Indeed, the restaurant industry is a business where managers do every possible thing to satisfy their customers. As the demand for food increases, restaurants sometimes face challenges in managing their accounts. With account dashboards, an F&B industry manager can create invoices and keep track of all account activities.
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Key benefits of using a Food & Beverage Dashboard
- Single page view of multiple charts and graphs
Multiple data charts can be seen on a single screen in form of bar chart, line chart, pie chart, doughnut chart, area chart, list view chart, polar chart, and more.
- Create Your Own Solution
With no coding or programming necessary, you can create unique food & beverage dashboard layouts, combine reports, and pick timeframes to better evaluate data.
- Select predefined dashboards
Visualize your business data with 5 predefined dashboards or create a custom one with an appropriate security level.
- Set access control
Admin can set who can access the data and who cannot. This utmost security level provided by a robust Hospitality Dashboard ensures that your business is in secure hands.
The Biggest Challenges Faced By Different Sectors of F&B
The corona outbreak affected many industries around the globe. The food and drink business faces major issues due to new rules and regulations.
As the number of laws that govern the sector increases, the challenges for maintaining the production in F&B sectors increase as well.
The bakery industry, milk production industry, grocery supermarkets, and supplement ingredients markets face various challenges on a day-to-day basis after the post-pandemic.
Let’s see what are the issues every food and drink sector is going through today, and how can these be resolved.
Sector 1– Bakery Industry
In this new era, the bakery industry is strictly following the post-pandemic rules and regulations. Every bakery point has to maintain the high-end ingredients that they use for cooking fresh products daily.
Bakery industry processes on a large scale due to high consumer demand. Almost 54.98% of the population includes bakery products (bread, cakes, doughnuts, and more) in their daily diet.
How can this challenge be tackled?
With the dashboards software, a user can create charts to fulfill the daily production units.
The dashboard will help a bakery manager in keeping track of orders, products, and demand per customer. The interactive data charts will quickly give a glimpse of the bakery to the manager.
Sector 2– Milk Production Industry
87% of the customers consume daily and its products on daily basis. To keep the supply chain going, daily business managers have to maintain their overall production.
From keeping the record of milk mammals to filling milk containers to completing the orders and more is a challenging task. A milk production business owner keeps a checklist of tasks in a manual diary. This data can be lost or destroyed easily.
Thus, to keep the data secure and control your overall milk industry, dashboards are helpful.
How this challenge can be tackled?
With the Dashboard Ninja app for ERP, maintain the number of milk mammals, healthy and unhealthy mammals, how much liters of milk is extracted per day, consumer demand for a particular milk type, and more.
It becomes so easy with engaging dashboard charts to keep a record of every small detail in hand.
Sector 3– Grocery Supermarket
The grocery industry deals with fragile inventory each day. Fruits and vegetables are prone to spoilage, fruit containers are vulnerable to damage, and shortage of employees at times.
The grocery sector goes through four stages–transporting, unloading, packing, and selling of goods. Fruits and vegetables must be delivered from shelves to the consumer’s hands to avoid business loss. But this is the major issue faced by almost every grocery store daily.
How this challenge can be tackled?
Loading and unloading of vegetables and fruits take time. It can be hard for a grocery store owner to track all the fresh fruits and vegetables all the time. It is because the owner focuses mostly on selling the groceries as soon as they arrive at his/her store.
Graphical charts can give grocery owners a quick view of the condition of their store. He can see which fruits and vegetables are two days old and which are new in his store. This way he/she can increase the sell on two days old products and prevent food spoilage.
Sector 4– Supplement Ingredients Markets
Out of 10, 7 people are shifting towards a healthy lifestyle. Most of them are adult people between the ages [24 to 53 years]. The percentage of men and women opting for a healthy dietary lifestyle is in the ratio of ¾.
It has been seen that women are more concerned about the healthy lifestyle of themselves and their families. While picking products from the store, they read the labels carefully.
The changing system of a healthy lifestyle has emerged the alert in the supplement ingredients markets (SIM). this rises the demand for ‘gluten-free products’, ‘dairy-free products’, ‘sugar-free products’ and other healthy variety of products.
The SIM supplies ingredients to a variety of food sectors for different purposes. To maintain this consumer demand, these markets have to ensure their inventory. At any given time, the SIMs must have a full stock of healthy dietary ingredients.
How can this challenge be tackled?
A supplement ingredient industry will always focus on inventory management to stay in the business. Now, manage inventory with powerful business intelligence dashboards.
Stay up-to-date on what is in stock and what is out of stock with the Dashboard Ninja app. Almost many industries are using ERP nowadays. This dashboard application will give you a beautiful and intellectual representation of your inventory data.
Once you have all the data on your screen, you can manage the production, consumer order, and sales.
Hospitality Dashboard Statistics
The hospitality sector is vast and broadens its boundaries based on consumer demands. Including technological skills in this industry will influence the business for good.
Let’s see what this data shows about using Dashboard apps for the hospitality industry.
The Impact of Technology in Dashboard for the Food industry
When technology has not made its place in the human world, everything seems normal. Ever since technology has introduced itself into human lives, our daily activities have changed.
Humans are relying on technology for completing their daily tasks. If we talk about the food sector, technology has impacted it as well. How?
The Food and Beverage Business Intelligence dashboards are helping this sector grow. The following are the digital strategies that were made possible due to visualized dashboards.
- 47% Improved Customer Satisfaction: Orders, customers, products, inventory, and sale charts available on single dashboards. This leads to better demand planning, understanding customers’ priorities, and improving customer satisfaction.
- 79% Increased Inventory Management: Visualized colorful data is much easier to read than long lists of numbers. Keeping track of inventory with just a glimpse will help to run a successful business.
KPIs for Food & Beverage Industry
The KPIs (key performance indicators) show how a business is performing over some time. The F&B industry can use KPIs to measure success and failure. These KPIs can be generated through graphical charts.
Roles of KPIs:
- KPIs can show us the total amount of money related to a particular order.
- Business KPIs can be used to represent the total quantity of items sold by a manufacturer during a certain period.
- KPIs for the beverage industry can show the overall inventory value and variables linked with the firm.
- KPIs can represent the profit margins earned by the firm after it sells the items.
- The total number of orders within a certain period can be identified by KPI.
Key performance indicators are vital factors for the F&B sector and can be achieved by using the Ksolves Dashboard Ninja app.
Dashboard for Food and Beverage Manufacturers is essential to check the business status quickly. Create interactive dashboards, use those dashboards during business presentations, and keep track of every order value with impactful dashboards.
To set up a killer dashboard for visualization of your data, check out the link below.
1. In which sectors of the food and beverage industry dashboard are helpful?
Commercial sectors (hotels, motels, restaurants, and more), the Grocery industry, milk production industry, college cafes, and more can use dashboard ninja.
2. How are KPIs useful in the food and beverage industry?
KPIs (key performance indicators) are used to measure the success or failure of the company. Using the Dashboard Ninja app, the food and drink sector can track its business performance.
3. How Dashboard Analytics is used in the food industry?
Restaurant data analytics are useful for identifying the problem areas. Using Dashboard Ninja, the restaurant owners can manage inventory, invoices, orders, and more. This data analysis will help owners to make the right decisions.