Restaurant Inventory Management: Why Accounting Integration is Important

Restaurant365

You invest a large amount of your budget in inventory. When that inventory is wasted, stolen or spoiled before it’s sold, it must be written off as an expense in the books. Integrating inventory management with accounting facilitates better inventory control.

Food Inventory Control – Taking Inventory

Chef's Resources

Managing Restaurant & Hotel Food Inventory – (Part 1 of 4) One of the most important components of managing your food cost is managing your inventory process. Controlling your month end food inventory and food cost is essential both for your business as well as for your own professional reputation. The post Food Inventory Control – Taking Inventory appeared first on Chefs Resources.

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Should Your Restaurant Take Inventory?

Xtra Chef

Every hospitality vet knows that taking inventory sucks. It’s time-consuming to write down the numbers of every single item in the walk-in by jotting notes on a printout, then transferring the notes to an Excel spreadsheet or directly into an old-school inventory management system.

Restaurant Inventory Management System

Lavu

Inventory management is at the heart of running a successful restaurant business. With food ingredients costing a dime and requiring frequent replenishment, a restaurant inventory management system is necessary. It ensures that your chefs and cooks keep track of the available ingredients and can tell how much more inventory is needed. A properly implemented restaurant inventory management system automates the process of tracking and managing inventory in a restaurant.

Microsoft Excel Is NOT An Effective Inventory Management System

Crunchtime

When it comes to a restaurant inventory management system, those old Excel spreadsheets fall short. Your inventory management solution should pick up where your spreadsheets leave off. You want accuracy, control, and scalability. food operations management

Restaurant Inventory Spreadsheet for Getting Started with Inventory Management

Restaurant365

Restaurant inventory management is the process of monitoring the food and beverage ingredients in your restaurant. Monitoring your inventory documents what food and beverage product is coming into your restaurant, what is leaving your restaurant as product sold, and what remains on your shelves and refrigerator. Knowing these essential metrics enables you to make more informed supply orders, and tight inventory control helps you reduce food waste, adding to your bottom line.

Restaurant Inventory Software Tips

The Restaurant Expert

Restaurant inventory software is a fast and efficient way to get a better handle on your restaurant inventory processes. If you’ve tried using the inventory module in your POS system and ended up with nothing more than a countdown of what you have sold, then you know the frustration of overpromising. Watch this video or read below to learn what restaurant inventory software should do for your restaurant. Why restaurant inventory matters.

How Technology Has Aided Restaurant Inventory Management

Restaurant365

Food cost is heavily influenced by your inventory management. With the restaurant industry’s notoriously razor-thin margins, controlling food costs — and managing your inventory — are essential for a healthy bottom line. There are many opportunities within the inventory lifecycle to apply efficient food cost controls. Today, streamlining the restaurant inventory management process is aided by technology such as restaurant inventory management software.

‘Sorry, We’re Out of That’: Proper Restaurant Inventory Management

Restaurant Technology Guys

Restaurant inventory management may not sound like the most glamorous element of the business, but it’s certainly one of the most important. The post ‘Sorry, We’re Out of That’: Proper Restaurant Inventory Management appeared first on Restaurant Technology Guys. Blog restaurant inventoryHere's how to avoid running out of crucial items.

Managing Inventory – and Your Time

Hot Schedules

Managing Inventory — and Your Time . Aside from the cost of the items themselves, there are many expenses associated with managing inventory. In order to maintain the highest-possible level of profitability, proper inventory management is vital. Along with forecasting inventory to meet demand, how you track what’s coming in/going out can make or break your margins. Inventory management is an inherently reactive piece of the business.

4 Restaurant Inventory Management Tips and Best Practices

Restaurant365

When most restaurant owners think about how to manage restaurant inventory, they think of food cost control. For restaurant owners, inventory control is closely related to accounting and food cost management. When tightly integrated with both the accounting system and POS system, inventory tracking is a more useful, accurate tool that can be used to lower cost of goods sold (CoGS), minimize food waste, and better allocate ingredients. End-to-End Inventory Management.

What is PAR Level and Why is it Important in Restaurant Inventory Management?

Sculpture Hospitality

Proper food and beverage inventory management is one of the most important processes that any restaurant can implement into their backend operations.

Why xtraCHEF Reinvented Restaurant Inventory Management Software

Xtra Chef

Today, we announced that xtraCHEF has reinvented restaurant inventory management software. I wanted to share some thoughts on why we built an Inventory Management product and how our offering is different than any other product available in the market today. Why Build Another Restaurant Inventory Management Software. All of these factors make it really challenging to accurately manage inventory. Automatically Updated Inventory Values based on Last Purchase Price.

Why Manual Restaurant Inventory Management Is Eating Your Profits

Restaurant365

When you think of your restaurant finances, do you think of your inventory? Your restaurant inventory management is an oft-forgotten component of your finances, but the amount of product you have on hand represents a large part of your budget. Because food and beverage costs make up a large part of a restaurant budget, your inventory method has large implications for your bottom line. What is Restaurant Inventory Management? Sitting Inventory.

5 Tips for Restaurant Inventory Revenue Maximization

MBB Hospitality

Maintaining an effective inventory revenue margin requires both the right infrastructure in terms of personnel and technology and the right practices. Only a multi-modal approach to your restaurant’s inventory can maximize your profits and promote strategic revenue management. Here’s a short guide on 5 tips for how to manage your inventory successfully in a restaurant setting. One preventable obstacle to inventory revenue maximization is data theft.

Forecasting for Restaurants: Implications for Inventory and Labor

Restaurant365

Inventory forecasting is calculating the precise amount of future inventory and production needs for your restaurant, and it also takes into account historical consumption patterns and the shelf life of finished goods. How to forecast your restaurant inventory. Inventory Projections. Your inventory projections should start with sales data forecasting , tracking your daily sales trend between this year and last year.

Good Beverage and Food Inventory Control Helps Protect Tight Margins

Sculpture Hospitality

Regions across the world are in different phases of reopening their economy. Unfortunately, some locations are already shutting back down due to a new wave of COVID-19 cases. Now more than ever, the hospitality industry needs to band together to protect its customers, staff and margins.

Three Ways to Improve Your Inventory Management as You Scale

Crunchtime

Your inventory management operations play a critical role in how well you optimize and maintain your food costs. As your restaurant grows and your inventory becomes more complex, it can be harder to maintain the level of inventory management efficiency you had at a smaller scale. However, following these three basic best practices will go a long way towards maintaining efficient inventory management and optimizing food costs at any size.

The Benefits of a Successful Inventory Management System in Your Bar and Restaurant

Sculpture Hospitality

There’s no industry in the world that’s more competitive than the hospitality sector. There’s no doubt about it, the restaurant and bar business is an incredibly tough space to operate in, and the owners that work within it are highly passionate about what they do.

Enterprise Resource Planning (ERP) Systems for Restaurant Inventory Management

Restaurant Engine

Restaurant owners implement Enterprise Resource Planning (ERP) solutions for inventory management and real-time low stock notifications. Also, when inventory levels fall below par, an ERP system will prompt a manager to re-stock, or even automatically place an order to a supplier.

How to Set up an Inventory-Based Bar or Restaurant Manager Incentive Plan

Sculpture Hospitality

They ensure you don’t overspend, that food and beverage inventory is managed properly and they come up with ideas that bring in new revenue streams. The manager of your restaurant or bar plays an essential role in the success of your business.

Want to Quickly Reduce Your Liquor Inventory Losses? Focus on Your Backdoor

Bar and Restaurant Coach

Often when we think of liquor inventory control, our minds go to behind the bar. To take it one step further, the default-mode for most bar and restaurant operators is to attribute inventory loss to staff. Liquor Inventory Control Starts at the Backdoor. Liquor inventory control and loss prevention begins when products arrive at your venue. For normal deliveries, where a manager or employee is present to receive inventory, on the invoice: get a legible signature.

Why Manual Restaurant Inventory Management Is Eating Your Profits

Restaurant365

When you think of your restaurant finances, do you think of your inventory? Your restaurant inventory management is an oft-forgotten component of your finances, but the amount of product you have on hand represents a large part of your budget. Because food and beverage costs make up a large part of a restaurant budget, your inventory method has large implications for your bottom line. What is Restaurant Inventory Management? Sitting Inventory.

Inventory Management Guide for Restaurants

Dot It

Inventory Management generally makes us think up images of dreary and endless counting of items. While inventory management is a vital necessity for any well run eating establishment, it doesn’t have to be a beastly chore. Taking time to set-up your management system correctly and then consistently monitoring your inventory ensures a healthy bottom line. [ [ ] The post Inventory Management Guide for Restaurants appeared first on Dot It.

Counting Inventory Doesn't Have To Be A Chore If You Have the Right Tools

Crunchtime

Great restaurant managers know that a disciplined approach to operational tasks will save time and money, and with the right tools, counting inventory can be at the heart of those savings.

Managing Restaurant Food Inventory When Moving to Delivery Only

Restaurant365

Successful restaurant operations, in any kind of economy, depend on well-managed restaurant food inventory. Much of the typical food and beverage inventory in restaurants tends to have a relatively short shelf life, making accurate inventory numbers essential to run a functioning kitchen, make economical orders, and adapt to long-term trends. Keep a lower stock inventory for delivery only. Plan for flexibility in menu to prevent wasted inventory.

Managing Inventory in the Days of COVID-19

Hot Schedules

Managing Inventory in the Days of COVID-19. Other operators are donating excess inventory , helping serve their community where they can. Whether you are temporarily closing operations or adapting your inventory for a delivery/to-go model, here are some tips from our Solutions team: For Businesses Open for Delivery, Takeout/Carry-Out. Offering a smaller menu gives you more control over your current inventory situation and helps streamline operational processes.

Increasing Manager Productivity with Restaurant Inventory Management Technology

Hot Schedules

In the world of restaurants, managers look forward to many things… but restaurant inventory management is practically never one of them. It is probably safe to say that counting inventory is not as gratifying as nailing the perfect dinner shift, but it is a critical process in your restaurant operation nonetheless. Counting inventory is tedious and time-consuming — there is no doubt about that. What if you could cut the time it takes to count inventory by more than half?

The Problem(s) with Managing Restaurant Inventory in Spreadsheets

Hot Schedules

You’d be hard-pressed to find a restaurant manager who actually likes taking inventory. But good managers know the importance of a good restaurant inventory management process. The day-to-day decisions made on inventory impact the bottom line, and with food costs on the rise, the process is another major stressor on top of numerous existing operation headaches. And yet, many restaurants still use spreadsheets to count their inventory. All Posts Inventory Management

How to Fix Your Restaurant Inventory Mistakes

360Training

Improving your restaurant’s inventory management is the quickest and most effective way to save money and increase revenue. Unfortunately, many restaurant managers and employees don’t know how to manage inventory effectively. No matter what the reasoning for previous noncompliance, it’s never too late to change your inventory management habits. What is Restaurant Inventory Tracking? . First things first, what is restaurant inventory tracking ?

Video Class Summary – Restaurant Inventory Control

Chef's Resources

Video Class Summary – Restaurant Inventory Control This 3 part video series is exclusive content which is only available to Premium Members who have purchased access to the Video Library. One of the most important aspects of managing your food cost is managing the entire inventory process from start to finish. Controlling your month end food inventory and food […]. The post Video Class Summary – Restaurant Inventory Control appeared first on Chefs Resources.

Maximise Inventory Efficiency By Ensuring Staff Accountability

Bizimply

Assign the right people to inventory management to ensure success in your business and account for all of your stock when you need it. The post Maximise Inventory Efficiency By Ensuring Staff Accountability appeared first on Bizimply. Bar & Restaurant Retail & Hospitality Tips from Bizimply

How to Control Inventory in Your Restaurant: Best Practice Guide

Restaurant365

Knowing how to manage restaurant inventory is essential for a healthy business, no matter if you have one location or several. Your sitting inventory (in product or dollars) is one of the main factors influencing your food cost and your bottom line. While many see inventory control as time consuming or tedious, it is undoubtedly essential to managing your restaurant. So, how do you to manage restaurant inventory accurately and efficiently? How to Manage Inventory.

Increasing Manager Productivity with Restaurant Inventory Management Technology

Hot Schedules

In the world of restaurants, managers look forward to many things… but restaurant inventory management is practically never one of them. It is probably safe to say that counting inventory is not as gratifying as nailing the perfect dinner shift, but it is a critical process in your restaurant operation nonetheless. Counting inventory is tedious and time-consuming — there is no doubt about that. What if you could cut the time it takes to count inventory by more than half?

Offsetting Rising Labor Costs with Menu, Purchasing, and Inventory Excellence

Hot Schedules

As you work to increase your profitability, two areas to explore are recipe and menu engineering, and purchasing and inventory optimization. Optimized Purchasing and Inventory. What it is: There are many ways to streamline the purchasing and inventory process. The post Offsetting Rising Labor Costs with Menu, Purchasing, and Inventory Excellence appeared first on HS Fourth US / Main. Offsetting Rising Labor Costs.

6 Restaurant Inventory Spreadsheets That Keep Operating Costs in Check

The Restaurant Times

Restaurant inventory is readily prone to contamination, theft, and pilferage which adds to the overall costs. Therefore, it is essential to keep a keen eye on the inventory to ensure that there is no wastage or unnecessary expenses. Perpetual Inventory Form.

Mastering Your Bar’s Liquor Inventory System [Updated 2019]

Lavu

Do you dread taking bar inventory? Most restaurant and bar owners struggle with maintaining order of their inventory. It’s tedious and arduous, but when done right, liquor inventory management can decrease costs and increase profits. Below, we reveal how to set up an efficient bar inventory system. We’ll cover the following topics: Liquor Inventory and Why It Matters. How to Do Bar Inventory. Calculating Your Liquor Inventory Usage.

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Video Class Summary – Edit Excel Inventory Sheets

Chef's Resources

Chef David gives clear step by step examples of how to edit your Inventory Sheets in Excel before final closing so that you can find and fix errors which can negatively impact your food cost […]. The post Video Class Summary – Edit Excel Inventory Sheets appeared first on Chefs Resources. This 13.28 minute video is exclusive content which is only available to Premium Members who have purchased access to the Video Library.

How To Take Inventory For Your Bar: 5 Expert Tips

Sling

Many managers feel that bar inventory is a complex, time-consuming process that doesn’t serve any real purpose. In this article, the experts at Sling tell you how to take inventory in just four steps and give you some expert tips to make the whole process easier. How To Take Bar Inventory. Counting product during your bar inventory process is more than just tallying bottles. Just “eyeball” the level of liquid and record the number on your bar inventory sheet.

Keep Productivity Warm By Managing Refrigerated Inventory

Bizimply

The post Keep Productivity Warm By Managing Refrigerated Inventory appeared first on Bizimply. Ensure profits keep flowing in by correctly refrigerating goods. Proper maintenance of frozen produce can mean big savings through minimal effort! Bar & Restaurant Bizimply News