Module 8 Flashcards
What is the main tool for determining order needs?
The Menu
What determines the ordering needs other than the menu?
Fill in the blanks
1) ____________ recipes
2) current i________
3) Level of p__________ required
4) Coorination of efforts between d______________
1) standardized
2) inventory
3) preparation
4) departments
Define this term.
Art or science of estimating future events.
Hint: Think weather
forecasting
Forecasting is based on two guides which includes….
1) Historical Records: written accounts of previous events
(sales record, census sheet, etc)
2) Forecasting models: – mathematical formula to predict
future needs.
Define the following two terms.
1)written accounts of previous events
(sales record, census sheet, etc)
2) mathematical formula to predict
future needs.
1) Historical records
2) Forecasting models
Define this term
a method of determining the popularity of a menu item
Hint: • Focuses on: • # sold (% or #) • Contribution margin ($) • # item sold x 100 = % sold • Total # sold
A. Popularity Index
Stae of Refinement
Define the following…
1) AS
2) AP
3) EP
4) W
5) W%
1) As served
2) As purchased
3) Edible portion
4) Waste
5) Waste percentage
State of refinement
All food begins with ______?
A. As purchased
State of Refinement
Define the following term…
• The amount you buy.
• The amount of raw material one begins with.
• It is 100% of the raw amount received.
As purchased
Sate of refinement
Define this term
• Usually smaller than AP because of trimming, cleaning,
cooking, and portioning losses.
A. As served
State of refinement
Define this term
Usually smaller than AS because of unedible parts (i.e., seeds,
bones, and fat)
A. Edible Portion
State of Refinement
Define this term
• Always some part of AP
• Amount of AP lost to obtain AS or EP
A. Waste
State of refinement
Define this term
• Amount of waste expressed as a percentage of AP
• W% = (W÷AP) x 100
A. W%
Whats the goal of any organization that creates and sells a product.service?
A. To remain in business and make a profit
Define this term
what you pay for the item as purchased from the supplier
(AP cost). How much a dish (or plate of food) cost to produce, in terms of what
the products cost.
Product (Food) cost
Define this term
what you charge a customer for the product. The price of
something which is sold.
– Reflects a portion of profit and covers all costs.
– Established to take advantage of market demand.
Selling price
Define this term
desired portion of Selling Price that is assigned to food cost. Food
cost as a percentage of sales (or selling price).
Food Cost %
Define this term
Maximize selling Price and Minimize FC%
Ideal
What are the 4 primary factors that influence prices charged by vendor/supplier
1) Prices reflect supplier cost
2) Prices reflect consumer demand
3) Prices reflect service features
4) Prices reflect vendor quality
Define this term
customer’s opinion of a products value to
him or her
A. Value Perception
Define this term
not seller that determines (influences) selling price.
A. Buyer
Fill in the blank
3 possible outcomes of negotiation
1) Mutally acceptable ________ or _________ is reached (win-win)
2) Both parties ______ to compromise, resulting in “agree to disagree” (win-lose)
3) Negotiation is unsuccessful when an understanding that there will be more negotiation in the _______ (impass)
1) agreement or compromise
2) fail
3) future
Define this term
Hint a type of pricing discount….
Price reduction offered after a purchase is made in the normal
selling price.
• Also called “cash back”
• Given by manufacturer, not seller.
A. Rebates
Fill in the blank
Selling Price: Established based on a mathematical calculation and desired _______
A. FC%
Fill in the blank
Menu Price: Established on what the _______ (customer) will bear
A. Market