Restaurant Inventory Management best practices

To monitor inventory, has been an unpopular tasks at many restaurants. And, without keeping a track on your inventory, you’ll end up dumping a high percentage of finished goods every year. A piece of carrot, or dollar hot dog might not seem much, but wastage of goods in such way throughout the year will badly impact your profitability. Hence, factors like overstocking, spoilage, waste, theft need to be taken care of by all restaurateurs to maximize dollars against the cost spend on the products.

Restaurant-Inventory
This article will share tips and tricks to help you manage a good inventory management practice for your food business.

Track inventory on a regular basis

As a restaurateur, you’ll deal with dozens of products that are used on a daily basis. But, not having a track of your inventories, can lead to a bad inventory practices. Therefore, it’s crucial to track your inventory on a regular basis. And, for some items it should be done daily, while for others it can be done twice a week.

What you can do?

The best way to keep a track on your inventory, is to update levels at the start of the day, and once product is consumed at end of the day. By doing this, you eliminate the risk of inaccurate inventory levels.

Implement FIFO method

Spoilage and theft of inventory are major concerns that leads to inaccurate inventory levels for many restaurateurs. Implementing a FIFO method while stocking your inventory will help you eliminate those costly scenarios.

What you can do?

Make it a point to shift the older goods to the front, so they are used first. Additionally, try and  keep stock in hand, as low as possible to reduce theft and spoilage issues in your restaurant.

Have an inventory policy in place for your staff

I’m sure you as a business owner or a manager will find it difficult to be in direct contact with the inventory in your restaurant. And, if you have a chain of restaurants, it will be next to impossible. You’ll need a staff to deal with those inventory coming in and going out of the restaurant. Therefore, it becomes important you create and enforce a strictly to-be-followed rules and regulations for all your staff who will be in direct contact with your inventory. This will avoid the risks of theft and wastage of inventory for your restaurant.

What you can do?

Educate your staff the importance of inventory for the your restaurant and request them to maintain a spreadsheet and mandatorily note each and every product they use, which will make easy for them to track inventory levels and order stock, practically.

Automate your inventory back-end process

Whether you are running a small restaurant or have a big chain, you’ll will have at least few dozens of products, and larger operations can involve several hundreds. Manually keeping a track of products can consume more time, effort and errors. Therefore, it wise to bring in automation to deal with your inventory back-end processes.

What can you do?

Automating your inventory process will help you manage back-end operations in one click , as well as allow you to preset orders to be triggered at certain inventory levels. The real convenience of a cloud-based inventory management system, is an instant accessibility to all your inventory in real-time.

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