Restaurant inventory management 101
In 2021, restaurants are struggling to cope up with the losses caused by Covid-19. By hook or crook, they want to cut down the unnecessary expenses. A study by the National Restaurant Association unearthed a shocking truth. 75% of restaurant inventory shrinkage in US is caused due to employee theft. The pilferage costs restaurants an estimated $20 billion per year. Hence the need of the hour is to have an efficient restaurant inventory management in place.
What is restaurant inventory management?
In simple terms, restaurant inventory management is the system using which you monitor the inventory coming in and out of your restaurant. By focusing on restaurant inventory management, you can achieve huge cost savings.
5 effective techniques to track restaurant inventory
Track your stock regularly – Using legacy manual systems, it’s really difficult to take the inventory count every day. With digital supply chain management platforms such as inresto SCM , real-time inventory tracking is now possible. Whenever it’s time to place fresh orders of stock, the system will notify you on the same. Another benefit is that you can monitor the present inventory levels from anywhere, anytime.
Keep a tab on the raw materials – The cost of raw materials are shooting up. Hence, you cannot afford the losses caused because of spoilage of expensive raw materials. In the case of perishable food items, follow a minimal stocking approach.
Proper recipe management – Wastage of expensive food ingredients can burn a hole in your pocket. Thus, have a standardised recipe that specifies the quantity of ingredients required in preparing each dish. Inresto also aids in cutting down overall grocery cost and requirement.
Utilise the concept of central kitchen – For those running a chain of restaurants, the concept of central kitchen works out best. The food items are semi-processed and distributed as per the requirements from various outlets. According to Hospitality Review, as much as 10% can be saved in mass purchasing for a central kitchen compared to buying for reach individual restaurant.
Efficient shelf life management – The expiry date of the various food items need to be tracked carefully. Input these details into the restaurant POS system. As and when the items approach the expiry date, the system will alert you on the same.
The 5 points discussed above will help you in effectively managing the restaurant inventory. Besides cost reduction, you will also benefit by proper utilisation of resources.