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Forecasting: Predict future demand — and optimise your operation

October 10, 2022 |   | 
Alex Ponomarev

Alex Ponomarev

Accurate forecasting ensures you can minimise waste and take full advantage of sales opportunities. You don’t need to guess how busy you’ll be over coming weeks. With accurate forecasts, you can optimise your staff rota, ordering and kitchen prep. You can also see the direction of your business and make more informed strategic decisions.

Key benefits

  • Reduce waste, increase profit: Predict the number of transactions, sales and order types with 95-99% accuracy, thanks to sales data interpreted by AI
  • Gain customer insights: Understand how holidays, traffic, weather, sports matches on TV, cultural events and seasonal changes impact your sales
  • Optimise inventory, prep and staffing: Minimise food waste, while ensuring you don’t run out of popular dishes and lose revenue. Align your staff schedule accurately with expected demand
  • Optimise budgets and plan with confidence: Use forecasts to make more informed decisions about spending, investment, expansion and other key changes to the business

Accurate sales forecasts

Syrve automatically calculates your likely spend and sales over the next six weeks, using clever AI of your actual run-rate for the past six weeks and beyond. There’s no need to try to think back — or sift through piles of paperwork — to figure out whether your staffing and inventory levels are correct for the weeks ahead.

Key benefits

  • Get forecasts automatically: Syrve collects sales data and automatically creates an accurate forecast to show your income and what’s likely to be selling, based on the previous periods
  • Minimise waste, maximise profit: With Syrve, it’s possible to predict the number of transactions, sales and order types to obtain forecasts with 95-99% accuracy
  • Add your local knowledge: Factor in seasonal adjustments like holidays, local events and weather — or big sports occasions on TV — to fine tune your forecasts
  • Plan with confidence: Schedule the right number of staff and prepare enough food. Don’t get caught out by spikes or troughs in demand

Optimise inventory and stock levels

Use the system to manage your inventory levels, based on current stock and accurate forecasts — so you don’t waste money over-ordering or miss sales opportunities and disappoint customers by running out of their favourites. Your Syrve platform will tell you what needs purchasing.

Key benefits

  • Purchase with confidence: While there will always be a certain degree of unpredictability in sales, your forecasts can give you an informed starting estimate for ordering
  • Save time: Go with solid, dependable data rather than gut instinct or having to plough through old paperwork to create realistic orders
  • Streamline your inventory: Minimise food waste and spoilage, while also ensuring you don’t run out of popular dishes and lose revenue
  • Use automated ordering: If you wish, go hands-free and let the system place orders for you with preferred suppliers whenever your inventory level parameters are crossed

Gain deeper customer insights

Understanding sales fluctuations allows you to better capitalise on opportunities, ensuring adequate staffing and inventory for outlier periods. With Syrve, you can see the impact of special promotions, changes in seasons and local events on demand at your restaurant.

Key benefits:

  • Understand sales patterns: POS data can provide insight into customer behaviour at different times of the year and how it affects your sales
  • See the impact of events: Understand how holidays, traffic, weather, sports matches on TV, cultural events and seasonal changes affect your sales
  • Factor in the success of promotions: Assess the impact on demand for specific menu items
  • Use the data: Build on your system-generated forecasts with these other factors — to maximise accuracy when it comes to staff scheduling and inventory levels

Improve staffing decisions

As labour costs are one of the biggest expenses for your restaurant, you’ll want to make data-driven, informed decisions about staffing levels. Using forecasts from the Syrve platform, you can align your staff schedule and Cost of Labour (CoL) more accurately with expected demand.

Key benefits:

  • Free up time: Avoid spending hours of valuable time in the back office, figuring out staff schedules and using spreadsheets. Let Syrve do the heavy lifting for you
  • Control costs: Rely on AI sales forecasting driven by your Syrve POS data. Check your forecasts and deliver the optimal guest experience at the lowest cost
  • Protect the customer experience: Ensure you have enough people on duty — with the right mix of skills — when busy times are forecast, so you don’t erode sales and customer loyalty
  • Build cost-effective schedules: Ensure every working hour is used effectively. As you make changes, the schedule planner displays your labour costs, so you can stay on budget

Improve kitchen prep

Based on accurate forecasts, your Syrve system can generate your prep and batch plans automatically — so kitchen teams can get to work immediately and everything is ready on time and waste is minimised. You can eliminate guesswork about how much to produce. The system will plan ahead for you.

Key benefits

  • Save time: The system does the thinking for you, creating prep plans automatically, including batch production throughout the day
  • Reduce food waste: Forecasts accurately specify the quantities you’ll need ready, but any waste from expired batches can be monitored and costs calculated
  • Keep production moving: Everyone stays on track without needing a manager to prompt action. All steps in production are covered, from defrosting items to cooking and batch production
  • Better service and stronger sales: The kitchen is fully prepped to serve food on time

Syrve - UAE - Schedule a consultation Full GraphicOptimise your budget, plan with confidence

Data-driven decisions about inventory, staffing, and future trends help you to manage profit expectations. The more information you have about what your future business growth looks like, the more informed decisions you can make about everything, from equipment purchases to investor relationships.

Key benefits:

  • Predict costs accurately: Set realistic budgets using data-driven forecasts
  • Make informed day-to-day decisions: Check how spending fits within forecasts
  • Shape your strategy: Spot opportunities for improvement and make timely adjustments
  • Convince others: Use your forecast reports to support your business case for investment, expansion or other significant changes

Book demo to expierence the future of operations

Our hospitality experts take the time to listen to your needs, learn about your business and will advise and guide you every step of the way to ensure Syrve is right for you, if it isn't we will tell you. Sound fair?