The National Restaurant Association released its most recent monthly report on the outlook for the U.S. restaurant industry, revealing growth in its Restaurant Performance Index (RPI). That measure reached a reading of 102.2 in March, which was an increase of 0.03 percent from the previous month and matched the index's highest reading in several years.

According to the trade group, the index has remained above the 100 for five consecutive months, showing consistent growth.

"The first quarter finished strong with a solid majority of restaurant operators reporting higher same-store sales and customer traffic levels in March," said Hudson Riehle, senior vice president of the Research and Knowledge Group for the trade group, in a press release. "In addition, restaurant operators are solidly optimistic about sales growth and the economy in the months ahead, which propelled the Expectations component of the RPI to its highest level in 15 months."

Restaurant owners also said they were more inclined to increase capital spending on key business improvements given rising customer traffic and sales.

To better manage changing financial dynamics in a period of industry strength, restaurant operators may want to take a closer look at the technological tools they currently deploy in their stores and consider an upgrade. Improved restaurant accounting software can help automate many of the financial responsibilities that back office managers must handle each day.
 

Though Travis County District Court Judge John Dietz has not issued a written decision yet, the Wall Street Journal reports that he is expected to side with the drilling company, which filed suit against Texas in 2009. The lawsuit argues that the oil and gas drilling process fundamentally changes the properties of these fuels by taking it out of the ground.

That would mean that oil and gas drilling should be classified for accounting purposes as a manufacturing process, the plaintiff argues, and therefore these businesses should be able to enjoy sales tax exemptions offered to manufacturers for certain equipment.

Those exemptions would be applied to certain metal pipes and excavation equipment. However, Texas comptroller Susan Combs said the state has never intended to classify oil and gas drilling as a manufacturing process and disputes the claim that oil and gas drilling changes the physical properties of those fuels.

Combs added that she plans to appeal the judgement if it is made, adding that the change in status would cost Texas up to $4.4 billion in sales tax revenue if applied.

An executive with the Texas Oil and Gas Association, a trade organization, told the Wall Street Journal that many in the industry were surprised that the court ultimately decided with Southwest Royalties. Debbie Hastings, the association's executive vice president, clarified that her trade group has been an observer but not an active participant in the proceedings. 
 

In an analysis released in late March, the Beverage Marketing Corporation reported that the liquid refreshment market in the United States expanded by 0.9 percent in 2011 from the previous year. The market has now grown for two consecutive years, rebounding from lows during the recession that were brought on by fewer consumers dining out.

The report noted a "forceful" surge in demand for premium beverages, such as ready-to-drink teas and coffees, and sports and energy drinks. While carbonated soft drinks still represented the biggest share of demand, volume dropped by 1.7 percent and market share declined from 47 to 46 percent.

Soft drinks have seen a decline in demand in recent years, but 2011's drop was one of the fastest on record. Ultimately, the report may show that consumers are rethinking their consumption habits, favoring higher-end beverages instead of those they may perceive to be less healthy.

An analysis by Restaurant Hospitality magazine says these trends are particularly notable for restaurants that rely heavily on fountain drinks and sodas for beverage revenue. While it does not make sense to overhaul their entire drink selection, the source suggests that these businesses may want to at least consider diversification.

"There's plenty of life left in fountain drinks to be sure, and they're still the overall volume leader among beverages by a mile," said the analysis. "But be aware that the nonalcoholic beverage market is changing, and consider what, if anything, your restaurant can do to profit from those changes."

While these trends are reported industrywide, individual restaurants may experience different ebbs and flows in drink demand. Upgraded restaurant back office software can help businesses track revenues from each menu selection to determine trends and where strong or weak points may lie.

FedEx Ship Manager API and FedEx Ship Manager Direct will be replaced by FedEx Web Services in May 2012 – with some FedEx contacts reportedly suggesting a May 31 switch date. In a letter sent to FedEx customers, the shipping provider encouraged its customers to migrate to the newer FedEx Web Services application, which offers newer features and services.

"To continue submitting transactions through your website, intranet or software, you'll need to use a different FedEx shipping solution. Failure to take action will result in your integrated systems losing a connection to FedEx," said one copy of the letter.

On its website, FedEx notes that it has not made any new updates or added any new features to its legacy solutions since June 2007, in anticipation of the larger migration. Transactions submitted with the API solution after May 2012 will not be accepted.

The newer FedEx Web Services application offers a number of features, including a shipping validation alert system and the ability to estimate duties and taxes. Other features exclusive to the new application include access to FedEx Electronic Trade Documents – an electronic filing system for international trade information – and access to FedEx Freight services.

Distributors that are using FedEx's standard services integrated with an in-house software application can seek migration assistance from the FedEx Developer Resource Center. Those using advanced services are advised to contact MigrationWebSupport@fedex.com.
 

These changes and others were described in a piece for VentureBeat, a blog that focuses on technology trends. The post also delved into some of the new technology being adopted by managers within the industry to gain increased visibility into their daily production.

According to the report, the term "Digital Oilfield" has grown in use throughout the industry as the result of increasing investments in technology and software designed to help businesses manage oilfield data. Many oilfield services businesses invest in software suites that can help provide them with data on production, equipment and workflow.

"That information is analyzed by clusters of computers, which feed their results to real-time operations centers that adjust oil flows to optimize production and minimize downtimes," said a McKinsey report, according to VentureBeat.

Another advantage to the new technology is its ability to fill the skilled labor gap. VentureBeat cited the McKinsey report's anecdote regarding one business that was able to reduce its staffing costs by 10 to 25 percent while increasing production by 5 percent via an investment in oilfield services software.

Businesses that wish to accomplish more with technology may need to consider upgrading their oilfield services software. An effective software can provide managers with the visibility to gauge equipment and personnel availability, maximize utilization and improve accuracy and customer service. As a result, oilfield services businesses may be able to enjoy improved productivity and profitability.
 

In addition, manufacturers, distributors and retailers have been able to improve customer satisfaction while simultaneously cutting down inventory levels. According to the report, 51.9 percent of respondents were able to improve customer satisfaction metrics by between 1 and 9 percent from the end of 2010 to the end of 2011.

The key to lower inventory levels and a higher number of turns has been improved communication between different departments, said the report.

"Different departments such as forecasting, sales and manufacturing are more accountable for inventory levels," said Bruce Tompkins, the Consortium’s Executive Director. "This may be due to sales and operations planning (S&OP) processes increasing their cross-functional role for setting inventory targets."

The ability to accurately determine inventory was important to 73 percent of respondents, while many listed inventory turns and inventory balances as the top metrics they use to gauge success with this responsibility.

Distributors that have yet to see increasing inventory turns may need to consider a review of existing inventory management software. It may be prudent to invest in new inventory management software that provides increased visibility into important factors related to inventory and that offers sales forecasting, lead time analysis or purchase order suggestion capabilities.
 

The Department of Labor's Bureau of Labor Statistics released the most recent data on the nation's jobs picture, revealing that the country added 120,000 positions in March. While the unemployment rate remained little changed from the previous month – sitting at 8.2 percent – the overall employment situation brightened with gains reported in the food services, healthcare and manufacturing industries.

Manufacturers added 37,000 new jobs last month, continuing a series of steady gains in factory employment that started in January 2010, said the report. The industry has added 470,000 new positions since that month.

"It's clear from this jobs report that manufacturing is playing an outsized role in driving the economic recovery in America. The policy lesson should be clear: investing in manufacturing will pay off with more and better jobs for American workers," said Alliance for American Manufacturing (AAM) executive director Scott Paul.

Within the leisure and hospitality sector, the food services and drinking places sector reported a gain of 36,900 new jobs, according to the BLS. That industry has also rebounded well since a low point during the recession, adding 563,00 new positions since February 2010.

Improving economic conditions in the manufacturing industry have also encouraged many executives to further invest in upgraded technologies – such as ERP software – designed to improve productivity and profitability. The most recent report from the Association for Manufacturing Technology (AMT) found that new orders for manufacturing technology totaled $401.69 million in January 2012.

The Department of Labor's Bureau of Labor Statistics released the most recent data on the nation's jobs picture, revealing that the country added 120,000 positions in March. While the unemployment rate remained little changed from the previous month – sitting at 8.2 percent – the overall employment situation brightened with gains reported in the food services, healthcare and manufacturing industries.

Within the leisure and hospitality sector, the food services and drinking places sector reported a gain of 36,900 new jobs, according to the BLS. That industry has also rebounded well since a low point during the recession, adding 563,000 new positions since February 2010.

Manufacturers added 37,000 new jobs last month, continuing a series of steady gains in factory employment that started in January 2010, said the report. The industry has added 470,000 new positions since that month.

Improving economic conditions in the manufacturing industry have also encouraged many executives to further invest in upgraded technologies – such as ERP software – designed to improve productivity and profitability. The most recent report from the Association for Manufacturing Technology (AMT) found that new orders for manufacturing technology totaled $401.69 million in January 2012.

While most small, independent restaurant owners might spread out 90 percent of their food supply among a handful of providers, self-styled restaurant doctor Bill Marvin suggests instead that these entrepreneurs follow in the footsteps of their larger chain counterparts, most of which use one vendor to secure between 80 and 100 percent of their supplies.

Working with one supplier creates the ability to negotiate lower mark-ups in favor of a higher portion of sales, said the news source. An example was provided that showed how, by ordering $500,000 worth of food each year from one distributor rather than just $100,000, a restaurant might be able to ask that vendor to lower its mark-up from 20 to 10 percent.

The distributor would benefit from more overall sales, while the restaurant would be able to save money on food costs. Marvin says such an arrangement requires trust on both ends – the restaurateur must trust that the distributor won't raise prices later, while the vendor must have confidence that the business owner will stay with them over the long haul.

"You'll always have another supplier come to you with a better price on a case of tomato sauce today or box of ribs tomorrow, but the point is sticking with the prime vendor as much as possible to get the lowest "overall" prices day after day (and spend your time in more productive activities)," Marvin wrote.

Accenture, a management consulting firm, surveyed 200 national and international professionals in the oilfield and gas services industry. The company found that 74.5 percent of these individuals spent either as much or more financial resources and attention on IT investments in 2011 than they did the previous year.

By making these investments, most professionals are targeting more efficient operations and integrated systems. A number of respondents noted that workplace processes have become slower in recent years as more businesses attempt to implement newly mandated drilling regulations that emphasize risk reduction and improved workplace health standards.

While 75 percent of survey takers acknowledged a need for these regulations, 60.5 percent said the pace of work has slowed to accommodate these changes.

"An ongoing challenge for energy companies is the search for operational excellence. The results of the survey are evidence of this," said Dean Forrester, senior director at Accenture's Energy industry group. "We believe that these trends will support the continued drive toward optimizing production and mitigating risk."

Implementing updated oilfield services software is one way many oilfield services companies target improved productivity and operational efficiency. This technology can assist with several key responsibilities, including scheduling, deploying, and billing for equipment and personnel personnel, equipment maintenance and project cost-effective analyses to name a few.