Food service management and Catering sector
The restaurant and food service industry is a $660 billion industry in the United States. Americans’ increasingly hectic lifestyles make cooking at home a challenge, so the restaurant and food industry enjoys steady growth. Competition in the foodservice industry continues to heat up. Economists predict growth will be only 3.1% in 2016. As a result, foodservice operators have to take a share from their competitors in order to grow. To accomplish this, restaurants and institutions continue to come up with all sorts of innovations and ways to differentiate their business from their competitors through an effective food service management.
Food service is a large sector, composed of many different commercial and non-commercial actors. The commercial segment makes up almost 80% of the restaurant and foodservice industry and includes businesses such as full-service restaurants, catering, stadium, airline and cruise ships. The noncommercial segment prepares and serves food in support of some other establishment’s main purpose. Categories in this segment include schools and universities, military, health care, business and industry, and clubs.
Point of interest in Food Service and Catering:
It may only account for 15% (in value) in the $231 billion limited-service category, but the fast casual segment is the most profitable one. It grew at a rate of 11% in 2015, while overall QSR (Quick Serve Restaurant) growth was flat. The attraction to fast casual springs from the fresh, made-to-order menu items that provide a step up from the processed food prepared in bulk at QSR chains.
Food Service and Catering challenges
Food service management is among the most challenging sector in Food and Beverage. Customer retention, shifting demographics and economies, high workforce turnover, sweeping trends (such as local food, food trucks or small plates), passing fads, and wildly variable business costs are challenges foodservice managers face every day.
Food service professionals have to be aware of new trends and boost their innovation processes. Developing a product portfolio by surfing on new consumers’ trends can enable companies to achieve improved margins and healthy growth. Quick and accurate introduction of innovative products is a competitive advantage for companies able to properly launch new ranges, menus and concepts development, this is core part of efficient food service management.
Food sourcing, quality, preservation and waste are also top challenges to consider while focusing on food service management.
Food service is facing extreme regulatory compliance requirements too. Local and global regulations are stricter than ever and time and means to comply with new regulations are not easily accessible.
Lascom solution for food service management
To benefit from competitive advantages on the marketplace, more and more companies implement food service software to assist them in their products / menus lifecycle and management processes. A PLM (Product Lifecycle Management solution) is a powerful tool to help companies with daily challenges.
Lascom offers food service software to businesses to assist them in food service management through:
Access our guides and whitepapers for your industry :
- Agri-food compliance: a global phenomenon. How can we adapt to it ? – White Paper
- Collaboration as a Key to Success in Retail – White Paper
- What has changed due to INCO? – Infographics