Hospitality Management: Food and Beverage Costs

What is the total cost incurred in purchasing food items for a specific period?

Which of the following is NOT a factor influencing food cost?

What is the process of acquiring goods and services from external sources?

What is one of the ways to cut costs in purchasing and cost control?

What refers to the total expenditure incurred by an organization on its workforce?

What involves overseeing and directing employees to ensure they perform their duties effectively and efficiently?

What is one of the technological applications in procurement?

What is the term for the total cost incurred in purchasing beverages, including alcoholic and non-alcoholic drinks?

What involves the strategic oversight and coordination of an organization's workforce?

Food and Beverage Cost

Food cost refers to the total cost incurred in purchasing food items for a specific period.
Factors influencing food cost:
- Ingredient prices
- Portion sizes
- Wastage
- Inventory management
Beverage cost refers to the total cost incurred in purchasing beverages, including alcoholic and non-alcoholic drinks.

Purchasing and Procurement

Purchasing refers to the principles and strategies guiding the acquisition of goods and services.
Procurement refers to the process of acquiring goods and services from external sources.

Technological Applications in Procurement

Automation
Data Analytics
Supplier Relationship Management

Cost Control Strategies

Cutting Costs

Vendor Consolidation: consolidating purchases with fewer vendors to negotiate better prices.
Inventory Management: implementing efficient inventory management practices to minimize waste.
Negotiation Skills: developing strong negotiation skills to secure favorable terms with suppliers and vendors.

Personnel and Human Resources

Personnel and Human Resources involve the strategic oversight and coordination of an organization’s workforce.

Labor Cost

Labor cost refers to the total expenditure incurred by an organization on its workforce, including wages, salaries, benefits, and related expenses.

Supervision and Staff Management

Supervision and Staff Management involve overseeing and directing employees to ensure they perform their duties effectively and efficiently.

This quiz covers the basics of food and beverage costs in the hospitality industry, including factors that influence costs and procurement strategies.