In this episode of the Restaurant Technology Guides podcast, host Jeremy interviews industry veteran Bill Lindsey, founder of COGS-Well, a company specializing in cost of goods sold software for restaurants. Bill shares insights from his long career in the restaurant industry, which began in 1974 as a restaurant manager and evolved into developing restaurant management software. The discussion covers the basics of back office systems, the importance of managing cost of goods and labor, and strategies for improving profitability, such as menu engineering, waste reduction, and leveraging AI for inventory management. Bill also highlights the unique features and methodologies of COGS-Well, designed to set up inventory systems quickly and efficiently while maintaining high data quality through auditing teams. Additionally, the episode emphasizes the importance of partnering with vendors, leveraging rebates, and making data-driven decisions. For more information and a demo of COGS-Well's solutions, listeners are encouraged to visit their website and dedicated landing page.

00:00 Introduction and Welcome

00:25 Meet Bill Lindsey: Industry Veteran

01:44 Understanding Back Office Systems

03:16 Labor and Food Costs: A Balancing Act

07:09 Impact of Tariffs and Volatility on Food Costs

13:18 Strategies for Managing Costs

26:55 Boosting Sales with Desserts and Appetizers

28:06 Leveraging Rebate Programs for Extra Income

30:58 Reducing Waste with AI and Donations

35:38 Introduction to Cogswell's Unique Approach

37:00 Setting Up and Managing Inventory Efficiently

44:01 Optimizing Menu and Labor Costs

52:03 The Importance of Partnering and Data-Driven Decisions