A bar inventory system helps your business gain visibility and control over its stock. From alcoholic beverages and mixes to garnishes, a bar inventory system will keep track of units on hand, and provide you better oversight over what you have, how products are moving and what needs to be restocked.
While this information can be gathered without a bar inventory system, it’s often time consuming, stressful and rife with errors. So let’s look at the top five reasons why a bar inventory system can be beneficial to your establishment.
Manual inventory management processes leave a lot of room for error. This can make it hard for you to get a clear picture of your inventory and can even increase the risk of waste, shrinkage and overordering. A bar inventory management system will automate these processes. This reduces the risk of error and gives you greater visibility over your inventory.
- Real-time data
Not only do bar inventory systems help automate the process, but oftentimes, they also integrate with your existing systems. This includes your bar’s point of sale (POS) system, as well as bookkeeping software.
This doesn’t just further automate the process – it means that data is in real-time. As a result, you can quickly and easily see what is on hand and what needs to be ordered, without taking staff away from other tasks to do a count or enter information.
- Faster inventories
A good bar inventory system not only integrates with your POS and accounting systems, but it can also integrate with bar scanning technologies. This helps increase the speed with which inventory counts are completed. This will save time, reduce labour costs associated with inventory and give your staff more time to focus on what really matters – increasing customer satisfaction.
- Better insights and decision making
Improved data from automation and integration can provide you with better insights that help improve decision making. That’s because an accurate inventory record allows you to make data-driven decisions. It also makes it harder for biases to get in the way and gives you a true picture of what’s going on with your stock. This includes better ordering decisions, as well as improved pricing and costing.
- Cost savings
Poor inventory management is one of the leading causes of reduced profits in bars across the globe. With a bar inventory system, real-time analytics and reporting will show you exactly which inventory is going to waste (or missing), why you are losing it and how to prevent it. This will save your restaurant huge amounts of money.
For more information on how a bar inventory system can help your company, contact Sculpture Hospitality today.