Getting a handle on your bar inventory is no easy task. It often takes a lot of mistakes, failed attempts and a great deal of time to find a method that works for your restaurant or bar.
If you talk to different bar or restaurant owners and managers about what they do to manage their bar inventory, you’ll get many different responses. Some may invest heavily, and some might not at all. If you’re unsure why you should invest in inventory management, the following will highlight the benefits of having a successful system in your restaurant or bar.
#1 – Reduce Drink Shortages
Disappointing a regular or even worse, a new customer can have a negative impact on your business. Running out of stock of someone’s favourite after-work beverage can do that. By keeping your inventory in order and always knowing what is getting low, you can always have the product on hand that is needed to ensure every customer who comes to the establishment leaves happy. This can keep your repeat customers returning and turn your first-time customers into loyal ones.
#2 – Reducing waste
Spilling drinks, dropping bottles and giving away free drinks have a huge effect on managing your inventory. Having an inventory management system in place allows you to show your staff how any product wastage really affects the business. It can also enable you to track individual employee waste, ensuring you know what is being wasted and by who each shift.
#3 – Avoid Order Mistakes
In the restaurant and bar industry, bringing the wrong order to a customer happens from time to time. If inventory is managed correctly, it can keep your staff from serving the wrong drink on a regular basis. If inventory is not managed properly, this can cause much more panic behind the bar, causing bartenders to make the wrong drink more often.
#4 – Optimize your Reordering
Rather than reordering a product only when you realize that it is gone, build a plan around reordering that allows you to keep everything you always need in stock. Again, this can ensure you keep all your customers happy as well as your staff, as they will no longer have to tell a customer that you don’t currently have their favourite drink in stock.
#5 – Increasing profit
I’ll save the best for last and this is the main reason why a restaurant or bar would want to better manage their inventory. Restaurant and bar owners are always trying to find ways to increase their bottom line. One of the best ways is to be involved in the management of your inventory. When managers and owners are active in the inventory process, they can be better in tune with what is going on inside the business. This can allow you to see if staff need more training because they are over pouring drinks or discovering if there is theft occurring at your establishment.