IMPORTANT: Olivia is the ideal solution for restaurant managers who prioritize a corporate approach, focusing on cost reduction and waste minimization.
We have conducted a thorough analysis of the global impact of forecasting errors in restaurants, and the results are astonishing. When a restaurant's forecasts are inaccurate, it leads to food waste and wasted staff hours, generating a negative impact on both the environment and the industry's profitability.
📉 The cost of forecast errors
Based on the estimates we have compiled, forecasting errors in restaurants worldwide cause up to EUR 15 billion in food waste and EUR 30 billion in overstaffing expenses. These staggering figures underscore the importance of enhancing forecast accuracy and adopting solutions that minimize the detrimental effects of such errors.
🌱 The environmental impact
Food waste not only results in financial losses for restaurants but also has severe environmental repercussions. Food production consumes valuable resources such as water, energy, and land. Consequently, wasting these resources contributes to environmental degradation and exacerbates climate change.
👩💼 The issue of overstaffing
Incorrect forecasts often lead to overstaffing, which in turn results in additional costs for restaurants and diminished efficiency. Moreover, overstaffing can cause stress and dissatisfaction among employees, adversely impacting the quality of service provided to customers.
🚀 Tackling the problem
To address these challenges, it is essential to invest in innovative technological solutions that enable restaurateurs to enhance the accuracy of their forecasts and optimize resource management. By employing advanced algorithms and machine learning, it becomes possible to generate accurate predictions regarding the number of employees required and the optimal amount of stock to purchase. This ultimately reduces waste and unnecessary expenses.
Learn more on our blog: https://27068996.hs-sites-eu1.com/olivia-blog
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