Inventory management; No one’s eyes get wide with anticipation at the sound of them. Not only does tracking your inventory properly seems like a boring task, but also involves a stressful responsibility of calculating cost of goods sold, tracking food usage etc.
However, the interesting thing about restaurant inventory management is that when it is ignored, the consequences for your business can be pretty dire; you may face unforeseen expenditures and supply overages or shortages throughout business periods which will result in a high loss of revenue.
But the good news is the process of inventory is now a cinch, if you are still stuck with a clipboard and spreadsheet to track inventory, then you need to come out of the cave. Take advantage of the new, more efficient and cost effective inventory management technology on the market.
The benefits of inventory management software are very clear.
Top Five Benefits of Inventory Management Systems
Improved supply chain management – Ordering inventory is based on what is actually being used in your restaurant. This accuracy allows you to optimize and automate your supply chain because ordering can be done with a click of a button.
Better budgeting – You will be in a position to create more accurate forecast based on the inventory required for different seasons in your restaurant. The accurate projection of food costs reduces wastage in fact; conducting regular inventories has also been shown to increase restaurant profits by more than 20% each year, largely because it keeps companies from over-ordering.
Saves time – Restaurant inventory management software frees up time that would be spent managing your inventory using Excel spreadsheets. This system ensures better integration and more accuracy.
Reduces theft – Using restaurant inventory management software will help you to identify unusual patterns of stock reduction that may be an indication of theft. This should lead to further investigation to identify the reasons for your missing stock.
Customer Satisfaction – Accurate on time order fulfillment and delivery of quality foods leads to repeat business and customer loyalty.
It is plain to see how inventory management software can benefit your restaurant. Invest in a tool now to reap the benefits in the future.
Wondering where you can try out such a powerful software?