Restaurants can manage inventory using several different methods, from creating and maintaining an inventory list to using detailed reports to make better decisions about their inventory.
To help you manage your restaurant’s inventory, here are some tips and best practices to get you started. We have listed nine ways restaurants can help improve the way they manage their inventory.
- Have a system for tracking inventory
Create an easy-to-use system for tracking inventory that is updated regularly and accurately. This could include using a stand-alone inventory tracking program or integrating a restaurant POS system and bookkeeping software with an inventory management system.
- Utilize reports and data
Regularly review reports on inventory levels and use data to make decisions about ordering and menu items. This can help you maintain the right supply for demand and reduce waste.
- Track inventory throughout the entire ordering process
From initial ordering to delivery and stocking, it’s important to track your inventory throughout the entire ordering process to ensure there are no errors or discrepancies. This helps you make sure you have the right items, and accurate quantities, on hand when needed.
- Audit your inventory
Schedule regular inventory audits to verify the accuracy of levels on hand. This can help you stay ahead of any inventory discrepancies, and allow you to address any problems quickly and efficiently.
- Monitor your inventory levels regularly
Regularly monitor your inventory levels on a daily or weekly basis and make adjustments as needed. This doesn’t mean you need to recount stock everyday, but you do want to review stock levels and inventory reports on a consistent schedule to determine whether you need to order/pick up more stock or adjust your menu items to account for shortages or inventory that needs to be used before it goes bad.
- Set reorder levels and triggers
Set minimum levels for each item in your inventory and set triggers for when to order more. This will help ensure that you don’t run out of items, and that you order the right amount of inventory.
Optimize Inventory: How To Calculate Bar or Restaurant Reorder Points
- Use inventory and cost data to analyze menu pricing
Use inventory and cost data to analyze your menu pricing so you can determine which items are profitable and which to adjust or remove.
- Invest in barcode scanning
Use barcode scanning to record inventory levels faster, more accurately, and with less effort. This helps you quickly and easily track inventory levels and improve ordering.
- Use software to streamline inventory management
There are a number of software solutions available to help streamline the inventory management process, from tracking inventory levels and creating reports to setting reorder levels and integrating with other software such as POS systems.
By following these tips and utilizing the right software and systems, restaurants can effectively manage their inventory and ensure that their supplies are always available for customer demand.
Interested in learning more about how your restaurant can improve its inventory management processes? Get in touch with Sculpture Hospitality today. Our team of inventory management specialists would love to help.