1- Monitoring and Forecasting:

The ability to compete in the food, beverage, and hospitality industry depends on keeping up with local and global changes, especially with regard to food product prices.
Continuous monitoring and careful reading of studies help predict future ingredient prices, which enables better financial plans. Changes in product prices also affect the menu and prices, requiring adjustments to maintain profit margins and provide a distinctive hospitality experience.
Therefore, continuous market analysis helps direct efforts and costs effectively to avoid losses.

2- Inventory and Management:

Accurate monitoring and daily recording of inventory are essential rules for controlling food and beverage production costs in restaurants. Inventory helps identify items close to expiration and examine the quantities and types of available products, which contributes to achieving operational goals.
Inventory also reveals potential costs for supplying goods and helps in analyzing the current situation and forecasting sales. Modern data recording systems such as point-of-sale (POS) systems are preferred to facilitate this process, as they provide accurate reports and future forecasts, and link inventory to customer orders, which enhances operational efficiency.

3- Menu Engineering:

The ideal menu in restaurants helps owners and managers control the costs of wasted money by reducing the quantities of products and ingredients used.
Experts recommend designing a simple and limited menu to increase cooking quality and reduce effort and energy consumed.
This strategy also contributes to creating a clear identity for the brand by defining clear standards for meals and their costs, which facilitates the pricing process and achieves appropriate profit margins.

4- Supplies and Training:

To reduce financial costs in restaurants, technical and behavioral aspects must be enhanced by using low-energy consumption devices, preferably multi-tasking, to reduce the need for tools. This requires training employees to use these devices and modify their behaviors to reduce waste of materials and energy. Rationalizing consumption and recycling are also part of sustainability, which helps reduce costs through partnerships with specialized parties. It is also important to educate employees on the best ways to utilize food ingredients, which requires training and creative ideas to reduce waste and maximize the use of resources.

5- Productivity and Preparation:

Restaurants and hotels seek to achieve sustainability and reduce costs by relying on self-production of food ingredients, which reduces the need to import them. This is done by using alternative energy sources and employing traditional cooking methods.
Some establishments benefit from agricultural areas or their factories, while others prefer to use ready-made ingredients to save time.
Restaurant owners should negotiate with suppliers to obtain the best prices and quality and build trusting relationships with them to ensure continuity.
It is also advisable to develop financial contingency plans to deal with market fluctuations. Finally, focus on food quality and customer experience to increase demand and profits, with the need to set clear financial goals to achieve cost control.