Knowledge is Power but access to knowledge is absolute power
 
Let AHF be your “POWER SOURCE”

     When is the last time you did a swat analysis (S.W.O.T) on your department? When the contractors come knocking at your door and they always are! (You may not be aware that your C-Suite may be courting them) by then it’s probably too late. The 4 components of a SWOT analysis are; 1) Strength, 2 Weakness, Opportunities and Threats.

     You need to know your KPI's (Key Performing Metrics) and this can be accomplished by bench-marking or base-lining your revenue, sales, number of meals served, food, labor,and FTE costs, etc. It's ok if your numbers may not be 100% accurate, but you will have a very good idea of how you’re performing rather than flying blind. You can start by collecting all of your numbers (i.e revenue, sales, labor costs) which is also known as the process of data mining your operational metrics.

 

     Data mining for our purpose is simply, the collection of various operational metrics that are centrally stored on a digital/electronic medium like Microsoft Excel, or in larger organizations centrally located or distributed databases.  Using Microsoft Excel you can manually enter your data, or in some cases import data from various management systems (i.e electronic time clock system). This allows for organizations to look at both historical and current KPI operational measures. If you need assistance with Excel simply reach out to your finance department for assistance.

 

     Did you know that AHF is the industry leader in bench-marking and setting the healthcare food service industry’s baseline in terms of performance? If you have a SWAT analysis you’re proud of, send it to me and I’ll share some of them with our members with your approval.

 

Remember the 5 p’s; Proper Preparation Prevents Poor Performance.

 

     I hope I’ve peaked your interest on the aforementioned subjects such as:

 

SWOT Analysis

  • Benchmarking

  • Data Mining

  • Industry Standards

  • 5 P’s

     We’ll talk more about them in upcoming articles so be on the lookout

Patrick LaMont, President AHFNY