How much money do you throw straight in the trash every year? A head of lettuce or a half pound of ground meat might seem insignificant at the time, but it adds up to everything that gets thrown away each month that adds up to a larger amount than you might think.
Waste, alteration, overstocking and theft are all “hidden” costs that can have a big impact on your bottom line. Good inventory management will help you target problems, reduce food loss costs, and get the most value for the money you spend on product purchases.
A significant portion of all your operational costs comes from the products you purchase. Good inventory management is one way to maximize every dollar spent, as it helps reduce waste, loss and overstocking. Verification system will also eliminate the risk of theft. You can make use of the Software by Action1 there.
Tips that will help you reduce food loss and control your inventory:
Designate a team
Appoint people responsible for managing the entire inventory process, which includes how products are received and organized. Designate trustworthy people with good analytical skills who are comfortable with numbers.
Provide good training
Make sure your team members understand and know how to use your inventory method. They should be familiar with the categories, purchase formats, list, etc. Also make sure that the rest of your staff know how important a well-maintained and up-to-date inventory list is to your facility.
Establish a routine
Determine how often the inventory count should be done: annually, monthly or weekly, or even at the end of each working day. The more often it is done, the better you will be able to target and remedy problems.
Organize your inventory sheets to match the order in which the products are placed on the shelves. Thus, the responsible person will not have to make continuous round trips. In addition, the process is even simpler when two people are assigned to it: one person counts and the other notes the information.
Establish a reserve inventory
The reserve inventory is the minimum quantity of a product that you must have in stock so as not to run out by the next delivery. If the quantity on hand is less than the required reserve inventory, you will need to order what you need to restore the quantities. It should be noted that the reserve inventory is easier to manage when using a cyclic menu.
Think about your menu
Inventory management will allow you to focus on multiple use possibilities and the resulting savings. If you notice waste or wastage because you only use a small amount of a certain ingredient, you might consider ways to incorporate that product into other dishes. Multiple use will also reduce the number of products you need to keep in stock. Finally, when you change your menu, be sure to consult your inventory data to minimize losses.
Use inventory management software
Inventory management software designed for foodservice greatly simplifies all aspects of the process. In order to be able to easily monitor your cost of goods sold (CPV), assess your inventory and analyze trends, choose a solution that is compatible with your order, revenue and invoice management systems. Choose user-friendly software that each member of your inventory management team can easily use. You might even consider choosing one that allows you to record the count using a smartphone or tablet.