What is variance in hotel ? Let's understand the term "variance" in the "simplest" and the "easiest" way "possible".
Let's understand the term "Variance" in the simplest and the easiest way possible. One of the most important part for any business operation in hotel industry is "Variance". In restaurants, hotels, cafe, kiosk & cloud kitchen variance is one of the most important part of the business. It can help in analysing the business operations through the COGS (Cost Of Goods Sale's). It helps in optimising COGS (Cost Of Goods Sales) which is an important aspects of any food and beverage operations. It is the duties and responsibilities to control the operations by briefing the team and giving trainings thoroughly to their staff. It is a team process if everyone does their job properly then the variance will be under controll. Meaning : The meaning of "Variance" is the "difference between the actual inventory vs ideal inventory" Or the cost of goods sold vs the cost of goods used. * Variance can be negative or positive a...