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The purpose of this paper is to determine the standard procedures that will put in place to manage food and beverage cost and will also implement a measure to support the cost c control of the products and people of the restaurant. The paper will cover the importance of effective purchasing, standards for food and beverage productivity, purchasing process and the relationship to other departments, how effective food and beverage storage and production method affects profitability, system used for collecting sales revenue, and methods, systems, and tools needed to protect the assets against fraud and misuse to effectively maximize cost control.

The standards for food and drink productivity and the importance of good purchasing include choosing, ordering, receiving, storing, giving out, preparing, and serving. This process is important to make sure that products are of good quality and that costs are kept under control. Effective purchasing involves financial stability and efficiency, evaluate suppliers for performance, and identify more preferred suppliers (Chron, n.d.). It is important because it helps the companies to make a right decision when it comes to purchasing and it can also increase their sales. Good buying habits are important for any food and drink business to be successful because it helps to make sure that the right product is bought in the right amount and at the right price. This means doing research on possible suppliers, negotiating with them to get the best prices and terms, and managing the whole order process from start to finish. It is important to make sure that the right products come in good shape, are stored correctly, and are served on time.

Purchasing process are the steps a business goes through to complete a transaction (Career guide, 2022). Purchasing is a critical function for industries and its business because it affects performance at all levels. If the supplies that were purchased for consumption do not meet the needs it will reduce the efficiency of the companys operations. The purchasing process includes identifying the needs for the goods and services, specifying the requirements needed, selecting suppliers, negotiating prices and terms, placing orders, receive and inspect the goods, and review suppliers performance (Career guide, 2022). Purchasing is closely related to other departments such as operations, finance, and marketing. Operations rely on purchasing to provide the necessary materials and supplies to support production and service delivery. Finance relies on purchasing to control costs and manage the procurement process efficiently. Marketing relies on purchasing to source products and services that align with the company's brand and image.

The ability of a food and beverage company to store and produce its products effectively may significantly impact its ability to make a profit in this industry. Saving money, improving reputation, and increasing repeat business are some benefits businesses can achieve by taking these steps. This will eventually boost company profitability. By reducing food waste, improving food quality, increasing efficiency, complying with regulations, and enhancing customer satisfaction, they can reduce food waste and improve food quality and efficiency. Investing in appropriate storage and manufacturing procedures and implementing them is essential to growing a company's profitability.

The use of efficient storage and manufacturing techniques for food and beverages can positively impact the profitability of a food and beverage company. To increase profitability, businesses must save money, increase revenue, comply with regulations, and provide better customer service. As part of these strategies, we aim to reduce waste, improve quality, increase efficiency, increase productivity, and improve customer satisfaction.

Following are the steps to collect sales revenue. Total sales revenue should be calculated and recorded. All forms of payment should be accepted, including cash, checks, credit cards, and any other means of payment. Cash and checks received should be counted and recorded. The total sales revenue should be reconciled with any shortages or overages. Make a deposit into the company's bank account. Confirm the total sales revenue recorded with all sales revenue. Ensure that the accounting department receives a daily report on sales. Investigate the cause of any shortages and take appropriate measures to resolve them. Overages should be investigated and corrected if they occur. Each sales period should be conducted in the same manner.

Organizations should use a combination of methods, tools, and systems to effectively protect assets from fraud and misuse and maximize cost control. The following categories can be used to categorize these items.

Preventive measures:

Strong Internal Controls Ensure clear roles and responsibilities are separated, and authorization protocols and approval limits are established.

Employee Training Regularly train employees on fraud awareness and prevention.

Background Checks Ensure all employees and contractors have been thoroughly screened.

Access Control Ensure that secure access control systems are in place to restrict unauthorized access to sensitive information and assets (Kehrer, 2023).

Detection methods:

Regular Audits Review financial records regularly to identify discrepancies or fraud.

Fraud Monitoring Monitor transactions for suspicious activity using automated tools and analytics.

Whistleblower Programs Establish a system where employees can report suspected fraudulent activity confidentially.

Key Performance Indicators Identify unusual trends or patterns in financial transactions by tracking Key Performance Indicators (Operational Risk: Fraud Risk Management Principles OCC, n.d.)

Technological tools:

Data Analysis Software Analyze financial data for possible fraud using advanced data analysis software.

Artificial Intelligence (AI) Develop solutions for identifying patterns and detecting anomalies in financial transactions utilizing artificial intelligence.

Blockchain Technology Blockchain technology increases transparency and secure transactions.

Biometric Authentication Ensure secure access to sensitive systems using biometric authentication methods, such as fingerprint identification or facial recognition (Ocrolus, 2023).

Incident Response and Recovery:

Incident Response Plan Define the steps taken if fraudulent activity and develop a plan for responding to such an incident.

Insurance Coverage Ensure that insurance coverage provides adequate protection against fraud-related financial losses.

Legal Action To recover losses and to prevent future frauds, be prepared to take legal action against perpetrators.

Continuous Improvement Enhance fraud prevention and detection measures by reviewing and updating policies, procedures, and controls (What Is Incident Response? Process, Frameworks, and Tools, 2023).

It is possible for organizations to effectively protect assets against fraud and misuse while maximizing cost control by combining these methods, tools, and system.

Food and beverage establishments profitability depends on efficient purchasing, storage, and production methods as well as the systems for collecting sales revenue and safeguarding assess from fraud. Controls and processes can cut costs, reduce waste, improve quality, and provide better service to customers.