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Buck$ ‘n Boxe$ Inventory and Financial Management Jon Andrews

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Presentation on theme: "Buck$ ‘n Boxe$ Inventory and Financial Management Jon Andrews"— Presentation transcript:

1 Buck$ ‘n Boxe$ Inventory and Financial Management Jon Andrews
Manager, Product Management Back office Products Welcome to Bucks n Boxes

2 Food Service Operations
Back Ground Restaurants – all areas chef, dishwasher, server, bar tender, busser, manager, baker, butcher College Dining – operations manager Business Dining – Director Food Services, vending and catering manager K-12 – Area Operations manager for 5 districts Cybersoft/PrimeroEdge – Product Owner, Product Manager

3 Goals Lifecycle of inventory item from: KPIs – How do I measure
Supply chain Financial KPIs – How do I measure Action Plan Plan Order Receive Produce Withdraw Goals of breakout session Review life cycle of supply change and how money flows through operations KPIs what to look for and when Action Plan to resolve issues in small chucks at a time.

4 Boxes Supply Chain Forecasting
What am I going to need for the next year? Past Look at past usage of each product Estimate what is needed in the future Plan purchasing based off of what you are going to serve in the next school year instead of looking in the pas

5 Boxes Supply Chain Forecasting
What am I going to need for the next year? Future Plan my menus Plan my menu cycles Forecast to see what is needed for the coming year. Plan purchasing based off of what you are going to serve in the next school year instead of looking in the pas

6 Boxes Supply Chain Combined Forecast report
All menu items needed to produce your menu cycles List of all stock items that will need to be purchased throughout the year. Bids USDA Foods End Products You have planned, and let your suppliers know what is needed now it is time to place orders to your distributors.

7 Boxes Supply Chain Ordering What do I have? How much do I need?
What am I going on my current menus? What will I have based on my plan? Figuring our what is need by hand for my menus What am I going to use between now and when the order arrives What is my cushion, so I do not run out.

8 Boxes Supply Chain The power of perpetual inventory, what do I have now. Clip board story from when I used to place orders going to the stock room, cooler and freezer multiple times. All areas of food service industry are just a bit different.

9 Boxes Supply Chain The power of planning what do I have on the menu, what is on order, what is going to be used from now till the menu needs to be produced. Grocery List, If forecasting was done based on the menu all of the items should be available.

10 Boxes Supply Chain This will let the manager know what will be available when at the time the menu is produced and what needs to be ordered.

11 Boxes Supply Chain

12 Boxes Supply Chain Receiving Subs Short Items? Damaged? Human error
Subs – Menu Planning find and replace Short Items – can I get something else in or do I need to change my menus Damaged goods – return for credit functionality Human error – Invoice reconciliation.

13 Boxes Supply Chain We received our product, now what? Theft Expiration
Space Theft – Garbage can story, cook out story Expiration – Menu items that cannot be used, what else can we make them into. Buffalo wings Space – do I have enough room to store my items, Harriet the hoarder.

14 Boxes Supply Chain Production Over production waste Production waste
Following the directions, preparation error Serving waste Wrong size scoop Over production – carry over items in production. Production waste – rising food cost, food waste log Serving Waste - amount served vs amount produced

15 Boxes Supply Chain Production waste

16 Boxes Supply Chain Serving waste VS.

17 Boxes - Financials Purchasing PAL/Entitlement Cash
Brown Box/USDA Items End Products/Finished Goods/Produced Goods DOD Fresh Produce Cash Commercial PAL is just another program, similar to reimbursement.

18 Boxes - Financials Menu Item – Peaches
Case is the same for commodity and commercial 6 - #10 cans Commercial Peach costs $23.45 per case Receipt cost is $0.00 at the district when it receives What cost should be used when completing menu costing for the serving of peaches?

19 Boxes - Financials What cost should be used when completing menu costing for the serving of peaches? Each case of peaches was purchased from a different fund. Commodity was purchased from the PAL funds Commercial was purchased from district cash of some type

20 Boxes - Financials Valuation Methods – how do I choose? Food Costing
FIFO Moving Average Market Value Current Vendor Price Last Received Price Food Costing Commodities vs commercial Commodities – are they really free?

21 KPIs Key performance indicators can be used to measure progress of each area of the operation, below are a few examples Labor Labor matrix % of revenue Food Cost Waste Theft Spoilage Participation Breakfast Lunch Snack

22 Action Plans – Follow up
Identify Issue Team Brainstorm Propose solution Assign PIC and Due Date Follow up Story of helping to reduce inventory costs in Wisconsin.

23 Action Plan Exercise Your district has a rising food cost issue and through tracking food usage over time compared to revenue you have narrowed the issue to 5 sites in your district. Lets run through and action plan to see how we can resolve the issue. Story of helping to reduce inventory costs in Wisconsin.

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