A Guide to Productivity Apps for Restaurants  Ask any restaurant manager and they’ll make it clear that running a restaurant is no easy job. Long hours, staff management and customer complaints are just a part of it. Luckily, as technology advances, schedules have been streamlined, work simplified, and management activities coordinated. There’s an app for almost everything these days, and restaurants are not being left behind in the software, technology, and services available. There are many productivity apps for restaurants. But, just as you can have too many chefs in the kitchen, using ..read more

What Does Backorder Mean? If you’re wondering, “What is a backorder?” then we’re here to help clear things up for you! A backorder is an order for a product that is currently out of stock but will be available at a later date.  Backorders can send mixed signals regarding how well a business is doing. Some companies wear it as a badge of honor because backorders show customers that their products are in high demand. When overdone, however, backorders can also be a sign of more significant problems in the company’s operations. Today, we’ll discuss questions about this crucial supply chain c ..read more

5 KPIs You Should Follow to Have a Successful High-Converting eCommerce Store The popularity of eCommerce can be explained by many factors. Simplicity is one of them. In alignment with the idea of simplicity, this post will focus on a few simple KPIs for eCommerce operators.  So, what’s simple about eCommerce? It is easier to set up a site than it is to find a perfect location and pay tons for decorating and premises. It is much easier to let the technology do the checkout. And it’s never been easier to measure your KPIs and or identify major problems. In fact, you have all the needed dat ..read more

What is Inventory Management? Inventory or stock management is one of the most critical aspects of most modern businesses. In a nutshell, it’s a system for monitoring, purchasing, producing, and selling of any physical stock in your operation. It can be either for raw materials, finished goods, or both. The inventory management definition might be simple, but the process gets more complex with larger companies. There are many components involved that are both within and beyond your control. That’s why one of the most critical areas of good inventory management is proper tracking. Effectively m ..read more

Attracting a lot of customers is definitely one of the hardest, but also most important tasks for e-commerce. And once you’ve attracted shoppers, customer retention is fundamental as well. Customer retention strategies are the most efficient and cost-saving solution for turning the new customers into loyal, regular patrons. This blog post will explore some of the strategies you can explore for customer retention at your business.  E-commerce Growth Strategies  Specialists define two of the most important strategies for growing an e-commerce business. These are customer acquisition an ..read more

How to Calculate Safety Stock Level for Retail Businesses  Supply chain problems happen all the time. Machinery breakdowns, adverse weather, a surge in product demand, or a pandemic are all unpredictable events that could lead to your products being unavailable. In all cases the impact on a business will be negative. But business owners can’t just cross their fingers and hope for the best when it comes to determining safety stock levels that will help them when disasters strike. How do you protect your business against such unforeseen circumstances? Retailers know that simply back-orderin ..read more

How to Start a Restaurant If food is your passion, there’s a chance you’ve thought about how to start a restaurant business. Food is an excellent concept for a business: though certain trends come and go, the desire to have great food and share it with other people is a timeless human tradition. Many Americans don’t have the time or inclination to cook, and in pre-pandemic times, they averaged dining out 5.9 times a week. While it’s a popular option to eat out, being on the other side of the counter can seem a daunting venture. A restaurant business comes with intensive work and razor-thin mar ..read more

Inventory Turnover Ratio: What It Means For Your Business  In any industry, inventory management is a key business operation. For one, knowing your inventory turnover directly impacts sales, business costs, and financial projections. It helps you price your products correctly, make production more efficient and streamline warehouse operations. On the other hand, a business that stays on top of inventory management is more successful in the long run because of the trust established with its customers and the ability to make smarter decisions based on clear insights. In short, it’s critica ..read more

How to Calculate Labor Cost: A Guide for Restaurant Owners Business owners have to deal with a number of major operational costs: rent or mortgage payments, inventory costs, labor costs, and a few others depending on the industry. This post will focus on the last item in the list, and explore all the steps involved in how to calculate labor cost.  In the restaurant industry, average labor is about 30-35 percent of business revenue, making it one of the most costly expenses.  From the staff to cook and serve the food, to those who handle cleaning and management, the cost of labor ..read more

What is Mobile Pay? Digital payment methods continue evolving with every new technology introduced, and the hottest trend today is mobile pay. The idea of using your mobile phone to make payments is especially attractive to today’s connected consumers. But what is mobile pay, and is your business ready for it? Today we’ll talk about mobile payments and why you need to offer them to your customers. We’ll also talk about how you can quickly implement this in your retail store or restaurant. What is Pay Mobile? Mobile pay, or mobile payment systems, is a general term that describes purchase trans ..read more