Food is a national obsession in Singapore. This year a total of 39 restaurants and hawkers of Singapore were picked up by Michelin stars in their 2018 guide. It was a felicitation for achieving the pinnacle of culinary excellence. With time, this nation has emerged as a competitive and vibrant F&B sector.
One of the primary reasons for this growth is the massive leap in monthly household incomes. Today, there are many educated consumers such as the PMETs (professionals, managers, executives, and technicians), from both the middle-aged and younger groups. They are capable of spending a good amount on food and beverages.
This has led to a rapid growth of the F&B industry in Singapore. It is expected to show a 14.1% annual growth rate (CAGR 2018-2022), resulting in a market volume of US$216m by 2022.
Growth is always accompanied by heavy competition. Therefore, as F&B business owners, you have to work towards sustainability and become globally competitive. In these scenarios, adopting digitization is the key to success.
There are two contrasting sides of the story. On one end, robots are making sushi and automated conveyor belts are delivering food. On the other, many small F&B businesses are struggling for the right business solution. These businesses require solutions that are simple, user-friendly, do not require massive investments, and involve minimum maintenance.
An ERP system such as Deskera Cloud ERP can help F&Bs take the first step towards digitizing their operations end to end. They can be accessed from any internet-enabled device encouraging businesses to move out of a premise based system and build roadmap for a global business reach.
Here’s a look at some Singapore F&B organizations that have benefitted from Deskera’s all in one business solution.
Integrated software suite for Seoul Garden
Seoul Garden is part of a Zingrill Holdings Pte Ltd. Zingrill is a foodservice organization that owns and manages renowned restaurant brands like Seoul Garden and BREEKS Café. The company started in 1983 with Seoul Garden, which was then a fine-dining Korean restaurant. The company and its brands have since evolved through the test of the time.
They were in dire need of an automated solution since they had to manage majority of the tasks manually. With Deskera’s integrated ERP suite, they have been able to automate the daily operations, achieve improved data accuracy and reduce manual errors.The software includes tools like ERP, CRM, HRMS, eLeave, and eClaims modules.
Forecasting and inventory tracking
Overstocking or under-stocking is a critical problem for F&B operators. Mismanagement of stocks impacts the overall cost and revenue of the company. Accuracy in demand forecasting helps decide well in advance what type and quantity of goods one can replenish.
For instance, with Christmas and New year, people will be celebrating and queueing outside F&B outlets. For occasions like these, restaurants need to be prepared to handle the surge in consumer demands. A right tool not only helps you understand seasonal demand and market trends, but also gives you timely notifications when the stock levels go low.
Therefore, enterprises must opt for a software which can report and track stocks in real-time to give a complete oversight of the business.
Deskera’s inventory management system helped Sushi Tei increase its productivity by 70%
Sushi Tei is a Singapore based food chain that has been reigning the F&B sector for more than two decades. This Japanese food expert is one of the leading food chains that provides quality, value and exceptional customer service across all its outlets.
As the chain continued to expand, they realized that the absence of an Inventory Management System significantly restricted the ability to track inventory movement. They could not take better purchasing decisions due to the unavailability of accurate forecasting. Also, a significant amount of manpower and labour was used. They could not integrate customer demand levels with inventory planning. These constraints often resulted in customer dissatisfaction.
With Deskera’s centralized inventory management system, Sushi Tei officials could now seamlessly track inventory movements. It facilitated increased accuracy of inventory orders, prevented product shortages and ensured the maintenance of exact quantities. Consequently, there was an improvement in Sushi Tei’s liquidity position. There was regular and timely supply to outlets as adequate stocks for required products were always maintained. It led to minimization of inventory loss by obsolescence, deterioration, damage, and so on. Deskera’s intuitive reporting tool helped monitor and manage the complete inventory cycle with real-time notifications on inventory movement. Overall, there was a 70% productivity increase in Sushi Tei’s inventory processes.
Today, cloud-based integrated business solution is a must for every F&B operator. It is the first step you need to take to enhance your business performance and stand out globally. An integrated ERP system for F&B business like Deskera can seamlessly manage your operations, take care of your entire ecosystem and smoothly interact with other applications.
Are you facing similar problems? We might be able to help you. Contact Deskera today.