How Can I Maximize My Restaurant Inventory Management System?
Chances are, you are too busy managing your restaurant to handle every detail of your inventory management operations. That’s where a restaurant inventory management system comes in. By automatically tracking the amount of product ordered, everything that comes out of the kitchen and bar, and what is left over afterward, inventory management systems can help restaurants lower the cost of goods sold, minimize food waste, and better allocate ingredients. Aside from the critical day-to-day financial health of a restaurant, inventory tracking can also inform long-term business strategy.
However, accurate inventory management can be time consuming and challenging to do well, even with an inventory management system to help automate tasks. The key to streamlining restaurant inventory management is finding a system that provides you with greater accessibility, mobility, and increased speed (of both service and of system updates). Keep reading to learn more about how you can maximize the value of your restaurant inventory management system and get more bang for your buck.
Ensure It’s Equipped to Meet Your Needs
Aside from payroll, food cost is one of the most significant expenses for restaurant managers and operators. To support a growing business, restaurateurs need to efficiently run their kitchens and control restaurant waste to increase profits. You can make intelligent business decisions based on current inventory trends and sales patterns with the right technology in place.
A POS system with real-time reporting can help provide deep insight into what ingredients you have on hand and how quickly items are being sold. If you have too many ingredients on hand, you may have to mark down a specific dish or risk spoilage and waste. Similarly, you may miss out on sales if you have too little of an ingredient used in a popular dish.
With this data, restaurateurs can better plan specials, forecast future needs, and order food and ingredients in quantities that reflect actual consumption patterns. In addition, there will be less food spoilage and restaurant waste when orders closely match sales forecasts based on POS data.
- As much or as little as you need to inventory
- Keep an eye on ingredient usage
- Make business decisions based on data
- Use it to achieve your goals (source/link: https://www.nccusa.com/four-ways-decrease-food-cost-great-inventory-management-solution/)
- Source: https://www.nccusa.com/industries/restaurant-pos/
Streamline Your Processes by Implementing a POS System that Includes Inventory Management
It can be difficult to manage multiple systems or plug-ins that have different databases, and in such a busy industry, restaurateurs should try and streamline processes wherever they can. To save time, money, and your sanity, implement a POS system that has built-in inventory management features. While some inventory management platforms are partly compatible with POS systems, finding a solution with inventory features already built-in will allow you to avoid complicated workarounds and imports.
With things like order entry, training, labor optimization, marketing, security, and inventory tracking all in one place, you’ll simplify processes for everyone including yourself, allowing you to focus on higher-level tasks and helping to avoid errors that can negatively impact profitability and customer satisfaction. Not to mention, instead of buying two separate systems for POS and inventory management, you’ll get the best of both worlds, all without breaking the bank.
At NCC, we understand that restaurateurs need a POS software solution that serves not just one or two business needs, but all of them. Our Reflection POS doubles as a restaurant inventory management system and much more so that you have all you need in one package. Whether single, independent restaurant or large chain, we can provide a customizable and scalable solution to help you eliminate errors, shortages, improper staffing, and more for more streamlined operations.
Looking for retail inventory management within a point-of-sale system? We can do that, too.