Purchasing and Cost Control in Hospitality
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Questions and Answers

What is food cost?

  • The process of acquiring goods and services from external sources
  • The total cost incurred in purchasing beverages
  • The total cost incurred in purchasing food items for a specific period (correct)
  • The total expenditure incurred by an organization on its workforce

    • What is procurement?

  • The principles and strategies guiding the acquisition of goods and services
  • The process of acquiring goods and services from external sources (correct)
  • The total cost incurred in purchasing food items for a specific period
  • The total cost incurred in purchasing beverages

    • What is the purpose of vendor consolidation?

  • To develop strong negotiation skills
  • To increase the number of vendors
  • To consolidate purchases with fewer vendors to negotiate better prices (correct)
  • To implement efficient inventory management practices

    • What is labor cost?

    <p>The total expenditure incurred by an organization on its workforce</p> Signup and view all the answers

    What is supervision and staff management?

    <p>Involves overseeing and directing employees to ensure they perform their duties effectively and efficiently</p> Signup and view all the answers

    What is the purpose of inventory management?

    <p>To implement efficient inventory management practices to minimize waste</p> Signup and view all the answers

    What is the benefit of developing strong negotiation skills?

    <p>To secure favorable terms with suppliers and vendors</p> Signup and view all the answers

    What is beverage cost?

    <p>The total cost incurred in purchasing beverages, including alcoholic and non-alcoholic drinks</p> Signup and view all the answers

    What is the purpose of automation in procurement?

    <p>To automate procurement processes</p> Signup and view all the answers

    Study Notes

    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.

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    Description

    This quiz covers the concepts of food and beverage cost, factors influencing cost, and purchasing concepts in the hospitality industry.

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