In simple terms, restaurant inventory management comprises the steps involved in tracking the ingredients coming in and out of your restaurant. Though it sounds simple, it is easier said than done. With the help of manual labour, it’s really difficult to monitor the quantity of raw materials ordered and determine what is remaining at the end of the day.
The best method to manage your restaurant inventory is by implementing a restaurant management system.
What is a restaurant management system?
A restaurant management system helps you manage multiple functions at your restaurant. Besides inventory management, it aids you in performing the billing function, devising loyalty programs, getting valuable insights on customer behaviour etc.
How restaurant management system helps in inventory management?
Makes real-time tracking a reality – With the help of digital restaurant management systems such as inresto SCM, now you can track the stock levels live from any location, anytime.
Get alerts on minimum threshold quantities – Get notified whenever inventory levels reach the minimum threshold. It helps you get rid of the nagging issue of running out of stock. On placing the fresh order of stock, the inventory levels get updated automatically. If you are running a chain of restaurants, stand benefited by having the inventory details at all outlets readily available.
Cut down wastage – Wastage of raw materials eat away your profits. With the process driven supply chain management, now you can control costs by minimising wastage. The platform makes optimum use of kitchen resources and reduces overall grocery cost and requirement.
Streamline vendor management – Manage all the requirements from the central kitchen and achieve significant cost savings. Choose the vendors by comparing the prices and quality. Now you can manage procurement effortlessly and get better cost margins.
Eliminate inventory theft – Inventory theft by employees poses a major threat to restaurants. As per the reports by Oracle Netsuite, every year in the restaurant industry, employee theft accounts for $3 to $6 billion of missing income for high-volume restaurants across the country. The timely alerts provided by the software help you curb inventory theft effectively. Also generate reports and get valuable insights on stock variance and pilferage.
Covid-19 has led to a sharp drop in the profits of restaurants worldwide. Hence the need of the hour is to cut down inventory wastage, increase efficiency and boost profits. Now you can easily achieve all this and more with the help of a restaurant management system.