F&B Cost Control

ANDALUS GATE HOLDING; Municipality of Al Shamal; On-site; SAR 60,000 - 80,000; Full time

Job summary

A leading hospitality group in Riyadh seeks a highly skilled F&B Cost Control Specialist. This pivotal role involves managing financial aspects to optimize profitability while ensuring exceptional service. Responsibilities include developing cost control systems, conducting inventory audits, and collaborating with various teams. Candidates should have proven experience in financial management within the food and beverage industry, strong analytical and communication skills, and a passion for the industry.

Qualifications

• Proven experience in cost control or financial management within the food and beverage industry.
• Strong analytical skills with the ability to interpret financial data and make data-driven decisions.
• Excellent communication and interpersonal skills, capable of working collaboratively with diverse teams.
• Detail-oriented with a strong focus on accuracy and efficiency in all financial processes.
• Ability to work under pressure and meet tight deadlines while maintaining high-quality standards.
• Proficiency in financial software and Microsoft Excel for data analysis and reporting.
• Strong negotiation skills and the ability to build and maintain supplier relationships.
• Passion for the food and beverage industry, with a keen understanding of market trends and customer preferences.
• Ability to train and motivate team members in cost control best practices.
• Flexibility and adaptability to changing business needs and environments.

Responsibilities

• Develop and implement comprehensive cost control systems to monitor food and beverage expenditures and optimize profitability.
• Conduct regular inventory audits and analyze purchasing trends to identify areas for cost savings and efficiency improvements.
• Collaborate with chefs and kitchen staff to establish standard recipes and portion sizes, ensuring consistency in food quality and cost management.
• Prepare detailed financial reports and forecasts to provide insights into cost trends and financial performance to management.
• Train and mentor staff on cost control procedures, emphasizing the importance of waste reduction and efficient resource utilization.
• Monitor labor costs and productivity levels, recommending adjustments as necessary to meet budgetary goals.
• Analyze and report on menu pricing strategies, ensuring competitive pricing while maintaining profit margins.
• Work closely with suppliers and vendors to negotiate favorable terms and pricing, fostering strong business relationships.
• Implement and maintain a comprehensive database of food and beverage costs to facilitate accurate reporting and forecasting.
• Stay updated on industry trends and best practices in cost control and financial management within the food and beverage sector.

Skills

Financial Analysis

Inventory Management

Cost Control Techniques

Communication Skills

Negotiation Skills

Job description

We are seeking a highly skilled and detail-oriented F&B Cost Control Specialist to join our dynamic team in Al Wadi, Riyadh. In this pivotal role, you will be responsible for overseeing and managing the financial aspects of our food and beverage operations. Your expertise will ensure that we maintain optimal profitability while delivering exceptional service and quality to our customers. You will collaborate closely with various departments, including purchasing, inventory management, and operations, to develop and implement effective cost control measures. This position requires a strong analytical mindset, excellent communication skills, and a passion for the food and beverage industry.

Responsibilities:

1. Develop and implement comprehensive cost control systems to monitor food and beverage expenditures and optimize profitability.
2. Conduct regular inventory audits and analyze purchasing trends to identify areas for cost savings and efficiency improvements.
3. Collaborate with chefs and kitchen staff to establish standard recipes and portion sizes, ensuring consistency in food quality and cost management.
4. Prepare detailed financial reports and forecasts to provide insights into cost trends and financial performance to management.
5. Train and mentor staff on cost control procedures, emphasizing the importance of waste reduction and efficient resource utilization.
6. Monitor labor costs and productivity levels, recommending adjustments as necessary to meet budgetary goals.
7. Analyze and report on menu pricing strategies, ensuring competitive pricing while maintaining profit margins.
8. Work closely with suppliers and vendors to negotiate favorable terms and pricing, fostering strong business relationships.
9. Implement and maintain a comprehensive database of food and beverage costs to facilitate accurate reporting and forecasting.
10. Stay updated on industry trends and best practices in cost control and financial management within the food and beverage sector.

Preferred Candidate:

1. Proven experience in cost control or financial management within the food and beverage industry.
2. Strong analytical skills with the ability to interpret financial data and make data-driven decisions.
3. Excellent communication and interpersonal skills, capable of working collaboratively with diverse teams.
4. Detail-oriented with a strong focus on accuracy and efficiency in all financial processes.
5. Ability to work under pressure and meet tight deadlines while maintaining high-quality standards.
6. Proficiency in financial software and Microsoft Excel for data analysis and reporting.
7. Strong negotiation skills and the ability to build and maintain supplier relationships.
8. Passion for the food and beverage industry, with a keen understanding of market trends and customer preferences.
9. Ability to train and motivate team members in cost control best practices.
10. Flexibility and adaptability to changing business needs and environments.

Skills

• Financial Analysis: The ability to analyze financial statements, budgets, and forecasts to identify trends and areas for improvement is crucial in managing costs effectively.
• Inventory Management: Knowledge of inventory control techniques and systems to monitor stock levels, reduce waste, and optimize ordering processes is essential for maintaining profitability.
• Cost Control Techniques: Familiarity with various cost control methods, such as standard costing, variance analysis, and budgeting, to ensure financial targets are met.
• Communication Skills: Strong verbal and written communication skills are necessary for collaborating with team members, presenting financial reports, and training staff on cost control practices.
• Negotiation Skills: The ability to negotiate effectively with suppliers and vendors to secure the best prices and terms is vital for minimizing costs and maximizing profitability.