Demand Forecasting: The Power of Apicbase and Lightspeed Integration 

Leveraging data effectively sets successful restaurants apart; that much is clear. The question is, how exactly do you do this? What data should you use, and for what purpose?

One powerful application is demand forecasting. By combining sales data from your Lightspeed ePOS with insights from inventory management, demand forecasting predicts your restaurant’s future purchasing needs. This significantly reduces the risk of overstocking and shortages.

With Lightspeed and Apicbase already integrated, you have a robust foundation for accurate demand predictions, ready to go.

In this article, we explore how demand forecasting, powered by Lightspeed and Apicbase data, can increase your restaurant’s profit margins: 

• What is demand forecasting for restaurants?
• Why demand forecasting 
• Benefits of Apicbase and Lightspeed Integration
• How Apicbase and Lightspeed integration works  

What is Demand Forecasting for Restaurants?

Demand forecasting is a tech-driven procurement method that optimises food and beverage ordering by analysing past sales data and current inventory levels. It predicts future demand for ingredients and raw materials, creating precise purchase orders tailored to each supplier.

Why Demand Forecasting

Effective demand forecasting addresses two major issues that can contribute to restaurant’s losses:

• Overstocking: This leads to wasted perishable goods and increased costs.
• Stockouts: Which causes customer dissatisfaction and potential loss of business. 

Benefits of Apicbase and Lightspeed Integration

Apicbase is an unmatched inventory management system that provides detailed insights into your current stock levels by leveraging the data from your Lightspeed ePOS. It helps you and your business to make the most of Lightspeed’s historical sales data, detailed sales reports, and transaction analyses. The platform also offers real-time updates with continuous monitoring, helping to prevent stockouts and overstocking.

At its core, the integration between Apicbase and Lightspeed is designed to help businesses manage their inventory and cut costs. But beyond that, this partnership lays a strong foundation for restaurants and hospitality businesses to improve their overall performance, from sustainability efforts to customer satisfaction.

Together, Apicbase and Lightspeed helps to:

1. Reduce Waste and Save Cost 
   • Minimises food waste by maintaining optimal inventory levels.
   • Uses historical data to make informed purchasing decisions, leading to cost savings.
2. Enhance Customer Satisfaction
   • Ensures menu items are always available, improving customer experience.
   • Prevents stockouts, boosting customer loyalty and turnover.
3. Streamline Operations
   • Automates the entire process from inventory management to generating purchase orders.
   • Saves time and reduces errors, freeing up staff to focus on other tasks.

How Lightspeed and Apicbase Integration Works

Apicbase pulls in all of the sales data from your Lightspeed POS, seamlessly integrating historical sales data with real-time inventory data. This enables your restaurant managers to forecast demand with exceptional accuracy. 

There are six automated steps, happening in flash: 

1. Sales-Based Analysis
   • Analyses historical sales data to predict future demand.
2. Recipe Reference
   • Calculates exact quantities of raw materials needed based on sales volume.
3. Stock Cross-Check
   • Compares required ingredients with current inventory to identify needs.
4. Generate Purchase Orders
   • Creates accurate, supplier-specific purchase orders based on forecasted demand.
5. Final Review and Approval
   • Allows for adjustments based on external factors before finalising orders.
6. Efficient Order Receiving
   • Updates inventory in real-time upon receiving new stock.

Final Thoughts on Demand Forecasting 

Whether you’re looking to reduce your kitchen’s outgoings or optimise the efficiency of your restaurant’s menu, the power of Apicbase and Lightspeed allows you do so with great efficiency, thanks to demand forecasting. Through Lightspeed’s acute sales data collation and Apicbase’s powerful aggregation of past and present spending, this integration creates exceptionally accurate forecasting for increased operational efficiency, and most importantly, better profitability.

Interested in learning more about how this powerful partnership can increase your restaurant’s impact? Take a look at the benefits here.