Tracking your bars inventory is an important, yet tedious task. The process involves late nights for managers and bartenders, however it is essential in bars where free drinks and frequent spills can add up quickly.
Your bar inventory is important for many reasons; it shows you how your bar is performing financially, what your product variance is and where your shrinkage is coming from, what your par levels should be for each product, and which products sell and which ones don’t. Your goal is to calculate your usage for a certain period of time. You can do this by tracking what you had in your inventory at the beginning of the period, how much stock you have at the end of the period and how much you received throughout the period.
We understand that inventory can be a pain, so here are some tips on counting your liquor inventory:
- Take your count at the same time, every time. Some bars may decide to do their inventory counts on Friday’s and Monday’s because the weekend is their busiest time.
- Find a method that works for you and your employees. Whether it be two people working together to count, or one.
- Count inventory while the bar is closed so you aren’t using products as you are counting them.
- Ensure employees are properly trained on how to count inventory to eliminate mistakes.
A lot of bars and restaurants are stuck in the traditional ways of tracking inventory, involving a pen and paper. However, there are many more effective ways of counting and tracking inventory. One way is by using a bar inventory spreadsheet or liquor inventory spreadsheet.
Inventory spreadsheets help you organize your inventory more efficiently and allow you to store this data for potential further use. Using the simple formula: starting inventory + received inventory – ending inventory = usage will help you determine quickly what you have used compared to what’s left.
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By using a liquor inventory spreadsheet like this one, you’re able to count what is in your inventory and also produce a re-order list making it easy to determine what needs to be purchased.
Once you become comfortable using a bar inventory sheet, you should look into moving on to an inventory management software program, such as Vinocount. Vinocount allows you to manage your bars inventory and monitor your spillage, which helps cut down on costs. Moving from a liquor inventory sheet to an inventory management software program may seem like a big step, however, an application like Vinocount actually makes your inventory tracking even easier. Everything is recorded in the app, allowing you to quickly count inventory. The app is connected to your POS system, which then tracks what products you sold compared to what you have left in your inventory to tell you what has been wasted.
Tracking your inventory can make or break a business. Not knowing what you have in your establishment can be very costly for you. Using a bar inventory spreadsheet is the first step in improving your inventory tracking.