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| The group of local businesses that you assume constitutes the choices your market will select if they don't select your own business. AKA peer set. |
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| Certain of the 50 United States that maintain a monopoly over the wholesaling or retailing of some or all spirits, wine, and malt beverages within their states. In control states, restaurant licensees must purchase alcoholic beverages from specific distributors as mandated by state alcoholic beverage (ABC)laws and regulations. In most of these states, distilled spirits must be purchased from state-operated stores or warehouses. |
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Term
| Integrated Foodservice Management Software Suite |
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Definition
| Robust digital information systems that automate various operational, control, and reporting functions to provide enhanced management results. |
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Definition
| The interest among customers to consume locally produced food that supports a collaborative effort between food producers and distributors and results in economic sustainability at the points of production. |
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| The estimated balance of inventory items calculated by the following formula: Ending Perpetual Inventory=Opening Perpetual Inventory-Items Sold. |
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Definition
| A combination of digital software and hardware that facilitates recording and communicating customer transactions by service personnel. |
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Definition
| A calculations of what food and beverage costs should be, based on the recipe cost (standard cost) of one or more items multiplied by the actual number of those items sold to customers. |
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Definition
| A management planning exercise used to identify Strengths, Weaknesses, Opportunities, and Threats to a business. The findings can be used to modify strategic plans or support tactical deployment to achieve enhanced business results. |
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