In large catering companies, the cost of food is the second largest operating expense, just after labor.
The cost of food cannot be eliminated in the same way that you cannot fire all of your staff to eliminate the cost of wages. However, this expense can be managed and controlled by a coded and information-rich inventory management system.
So roll up your sleeves, put on your inventory manager hat, and let’s start looking at your food costs.
After reading this guide to restaurant inventory management and control, you will have all the tools you need to get your affairs in order. No more wasted hours … and no more inventory errors.
Instead, expect to increase your bottom line by 2% to 10% just by doing the weekly inventory of inventory and adjusting your supply.
What do you think?
Here are the things you’ll find in this restaurant inventory management guide.
Why is inventory management important in all food service operations?
What are the common mistakes made in restaurant inventory management (and how to avoid them);
5 steps to building a robust inventory management system:
- Implement scalable inventory procedures;
- Make your staff aware of the importance of inventory control and get their buy-in;
- Don’t forget to register all inventory actions;
- Calculate the stock turnover rate and the CIO on a monthly basis to be able to identify alerts;
- Work to eliminate over-storage and under-storage, waste and theft;
How to take your inventory management to the next level?
Control the cost of your food with restaurant inventory management software.
Ready for those profit margins to start exploding
- So grab a fork and let’s start digging.
- Why is inventory management and control important in the industry?
Well, it comes down to asking why a map and a compass are important to mountaineers.
Without these two elements, they would have no idea where they are and where they are going. Getting from point A to point B would turn into a succession of treacherous cliffs, impossibly steep canyon walls, and ankle-length trails.
As a restaurant operator, you have your own dangerous cliffs and paved paths – overstock, under-storage, waste and theft.
Your obstacle becomes the set of things that get in your way. And where you want to get to is run a successful restaurant business where you maximize profits without having to sacrifice quality or customer experience.
POS system with inventory management is not just about getting numbers, it’s about knowing what to do with them.
Everything inventory-related – including the four main benefits I’m going to talk about here – serves a single purpose…
…Ensure that the actual cost of feed does not differ from the ideal cost of feed.
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