A.I. forecasting for restaurants' resilience in a volatile post-COVID world

点击翻译按钮获取中文摘要

Hospitality is the heart of every community. Never more so, than since the pandemic.However the industry, a key pillar of the UK's economic and social success, employing c.3m people, is in crisis as it faces a perfect storm of challenges: Staff shortages, rising costs, disproportionally high business rates and VAT rate increase threaten insolvency to a quarter (22,000) of UK pubs and restaurants \[APPBG\].25% of pubs, restaurants and hotels currently close for part of the week because of the UK's staff shortage of 200,000 vacancies across the sector\[Guardian2021\]\[Independent\]. Energy price rises of 54%\[MSE\] and food price hikes of avg.5% \[ONS\] due to inflation, Brexit and the conflict in Ukraine (major exporter of crops) highlight the need to reduce costs and minimise food waste (industry-wide c.£3bn annually). Business rates of avg.3-10% of turnover (Amazon pays 2%)\[APPBG\] and the VAT rate return to 20% (from 12.5%) are the last straw for a sector so critical to economic and social recovery but operating on minimal profit margins of avg.4%\[OTL\]. The sector needs extreme resilience to survive.The key to resiliency lies in accurate demand forecasting.Tenzo delivers predictive analytics and actionable business insights for restaurants and retail, delivered in-store, in real-time and on your phone.Tenzo is now working with hundreds of locations such as Iberica, The Breakfast Club and Chilango and helps their clients:* Improve gross margins up to 18%* Reduce labour costs up to 10%* Improved social review ratings by up to 0.5 stars* Increase staff performance* Reduce overhead and errors by automatically combining all business data sources - POS, Staff Scheduler, Social Media, Inventory Management, and more* See all their data in one place on Web and Mobile* Optimise purchasing and scheduling, in turn reducing wastage and labour cost by 10-20%.* Increase their forecast accuracy by 25-50%.