Restaurant Inventory Software
Inventory is critical when it comes to restaurants. It is the essential part which is responsible for a restaurant’s success or failure. Restaurants with adequate Inventory management are able to keep their costs down and increase their revenues. Inventory takes up space. The bigger the restaurant the more space inventory is bound to occupy. This space comes at a cost known as the Holding cost of inventory. In order to minimize the Holding cost of inventory, a restaurant can purchase a Restaurant Inventory Software. The software would have measures installed which would enable effective inventory management.
Benefits of Restaurant Inventory Software
A Restaurant Inventory Software is able to benefit the restaurant by keeping an eye on the Inventory levels maintained by the restaurant. A simple Restaurant Inventory Software might be integrated within the Point of Sale software. As soon as a sale is recorded, the sales units sold are used by the system to assess inventory movements and keep a track of inventory levels. A sophisticated Restaurant Inventory Software can have advanced features such as integration with the Supplier systems. This is known as maintaining a “Just in Time” (JIT) inventory level. The system would constantly monitor the movement of the inventory and when the inventory levels would reach the Reorder Level, the Restaurant Inventory Software automatically generates a requisition for additional inventory and sends it out to the supplier. This has the advantage of prompt delivery of inventory whenever it is needed. This helps the restaurant maintain good relations with its suppliers while keeping the overall cost of inventory at a minimum.
Features of Restaurant Inventory Software
The Restaurant Inventory Software is able to keep a track of all types of ingredients that the restaurant uses, the usage level of these ingredients etc. The software is also used to calculate the cost of all ingredients in order to reach a cost figure on which an appropriate profit percentage is applied. Quality software would be able to provide accurate estimates which ensure that the restaurant charges a price which is able to cover the cost of all ingredients, make a profit while keeping the prices at a level which allows it to beat its competition. The Restaurant Inventory Software also maintains a track of outstanding amounts that are to be paid to the Vendors. The software also maintains a list of authorizes vendors for the inventory.
Things to consider about Restaurant Inventory Software
The management of the restaurant needs to keep an eye on the Restaurant Inventory Software because it might send out requisitions when inventory may not be required. In cases where the POS is not integrated with the Restaurant Inventory Software, the management must ensure that orders are sent to vendors only when the raw material is required. Furthermore there are times when the restaurant is faced with unplanned hikes in customers. In such cases the software requires close monitoring because there might be a daily ordering of inventory and the software should be able to deal with it.