Power Wave (Nexonstar) partners with Snowbell Restaurant to provide ERP system for enhancement of business
Power Wave, the regional subsidiary of Nexonstar (Korea-based company specialised in internet and technology solutions company), is the provider of the enterprise resource planning (ERP) system to SnowBell Restaurant management company, one of the leading companies in the hospitality industry.
This pilot ERP system for the restaurant will be getting launched with Snowbell for two of their chain restaurant at the WTC Mall in Abu Dhahi namely Khazana by Grain of Salt and Signature restaurant. This ERP system will help the restaurant not only managing the POS but give data driven analytics, which will help restaurant in growing and deliver same quality all across the chains. The ERP will help in giving data analytics on ingredients, manpower, staffing and more.
The ERP system is to manage and control manpower and ingredient, ERP solutions for inventory management and real-time low stock notifications. For example, when chefs order an ingredient, the stock counts in their ERP systems automatically reflect an increase in stock. When a restaurant sells a dish containing an ingredient, its stock count automatically registers a decrease. Also, when inventory levels fall below par, an ERP system will prompt a manager to re-stock, or even automatically place an order to a supplier.
Fundamentally, inventory control revolves around three variables.
- Control of Inflow: Food expenditures, including when goods are purchased from suppliers
- Control of Outflow: Purchase timing and costs, including when dishes are sold and when to throw away food for any reason
- Stockpile: Stock value of product
This system will attempt to achieve Control of Inflow. To achieve this, it will need accurate ingredient prices. There is a term, ‘Three-Way Match’, commonly used within most ERP systems. The Three-Way Match attempts to ensure that the purchase orders, delivery orders, and invoices match each other before it approves payment to the supplier.
ERP systems are common in retail industries. Unfortunately, restaurant owners do not often avail themselves of this robust tool. In the food service industry, there are many perishable products. Restaurant inventory items often have a very short shelf life. For each dish, there are many raw materials needed to produce the final product. Restaurants rarely receive finished food products from a supplier that they can simply resell to the end consumer.
Eyeing the above issue and focusing on achieving profit increase by cost optimisation as a goal, Nexonstar has created the ERP system for restaurant and after this pilot project this ERP system will be rolled out in the market all over the world.
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