In a real time food production management system and method, real time data about consumers inside or in the vicinity of a food outlet and an amount of prepared food available to serve and/or an amount of food being prepared is electronically generated. Based on the real time data, a demand for an amount of food to be ordered by the consumers in a specified interval immediately succeeding the generation of the real time data is electronically predicted. In addition, at least one of the following is electronically determined based on the real time data: a predicted amount of additional food requiring preparation; the time at least one prepared food product has been available; a length of time that a cooked food component has been cooked; and an amount of a food component, a condiment and/or a topping resides in a food product assembly buffer.