Key Responsibilities:
Inventory Management:
Oversee the procurement, storage, and issuance of food and beverage inventory to ensure adequate stock levels while minimizing waste and spoilage.
Cost Analysis:
Analyze food and beverage costs on a regular basis, including ingredient costs, portion sizes, menu prices, and sales trends, to identify variances and opportunities for cost optimization.
Budgeting and Forecasting:
Assist in the development of annual budgets and financial forecasts for food and beverage operations, including revenue projections, cost projections, and profit margins.
Menu Engineering:
Collaborate with the culinary team and food and beverage managers to develop menus that balance profitability with guest satisfaction, taking into account ingredient costs, pricing strategies, and menu engineering principles.
Vendor Management:
Negotiate favorable terms with suppliers and vendors to secure competitive pricing, quality products, and timely deliveries, while maintaining strong vendor relationships.
Internal Controls:
Establish and enforce internal controls and procedures for food and beverage procurement, storage, and disbursement to prevent theft, shrinkage, and unauthorized use of inventory.
Cost Saving Initiatives:
Identify opportunities for cost-saving initiatives, such as portion control measures, inventory optimization, waste reduction strategies, and energy-saving practices, to improve profitability.
Reporting and Analysis:
Prepare regular reports and analysis on food and beverage costs, inventory levels, sales performance, and profitability metrics for management review and decision-making.
Training and Education:
Conduct training sessions for food and beverage staff on cost control best practices, inventory management techniques, and compliance with standard operating procedures.
Qualifications:
Bachelor's degree in Hospitality Management, Finance, Accounting, or related field; Certified Hospitality Accountant Executive (CHAE) certification preferred.
Minimum of 3 years of experience in a similar role, preferably in the hospitality industry with a focus on food and beverage cost control.
Strong analytical skills with the ability to interpret financial data, analyze cost variances, and develop actionable insights.
Proficiency in inventory management systems, financial software, and Microsoft Excel.
Excellent communication and interpersonal skills, with the ability to collaborate effectively with cross-functional teams.
Detail-oriented with a strong focus on accuracy and precision in financial calculations and reporting.
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