Excel provides a unique and powerful set of tools that play a vital role in a food service management information system. Culinary Econometrics can design customized spreadsheets to meet the specific needs of any hospitality operation. Examples of tasks that food service spreadsheets can perform include:
· Forecast sales by menu item
· Develop operating budgets built on multiple forecasts
· Create employee schedules that maintain total labor cost within a designated amount
· Analyze “make or buy” purchasing decisions
· Perform accurate break-even analysis by total sales and covers
· Utilize goal value analysis to determine menu item profitability
· Analyze financial feasibility of new business opportunities