Inventory Management is where most restaurants find them self in a pickle. Due to the nature of inventory management function. It’s such a function if you don’t have a properly organized inventory, which keeps the flow of raw materials from the pan to plate seamlessly. Then, you will find you’re servers apologizing to the customers.
Having a POS system that has inbuilt Inventory Management system will result in a smooth flow of raw material. Hence, avoiding awkward and embarrassing situations where you don’t have enough ingredient for you to serve. So, I have come up with a list of features that your inbuilt inventory system should have.
1. Bulk Management.
Bulk management is especially important for Fine Dine and Cafes because they sell an assortment of different dishes. Bigger the menu, the more huge will be the inventory. Managing a large number of SKU can be time-consuming and a hassle. For, that very same reason having a POS which will take care of sorting and managing for you.
You can efficiently import all your items to your POS, without manually having to make a list.
2. Stock Costing.
This is one of the advanced features you should always look in an inventory management software. This helps you to track cost and profit margin per item you sell.
Smart price tracking will help you single out your star dish which makes you the most profit and, also identifies the dishes which are not making you money.
For instance, let’s assume the making cost of a whole burger is 50 rs and you’re selling it for 100 rs. Your POS will show you how that 50 rs making cost came to be. It will reverse engineer the whole process of that burger and give you specific details on how much every single ingredient costs.
Apart from analyzing and accurately reporting the making cost. The POS should also show you the profit margin.
3. Notifies you.
Your inventory management system should always alert you in case of a critically low ingredient in the inventory. Whenever you’re running low on a particular ingredient your POS should notify you or place an order on your behalf in case of an emergency.
It should also accurately track which ingredient is used more often, so it can alert you on how much to place an order and how much of that particular ingredient is left.
4. Best sellers.
Some products sell faster than others. In such cases, your POS is able to identify those products by analyzing daily sales pattern. Your inbuilt inventory management system processes the reports and produces a predictive forecast for how long are your ingredients going to last.
For instance, let’s assume you make sell on an average 100 burgers a day. Each of your burgers has 2 slices of cheese and you have 1000 slices of cheese in your inventory. Now, the POS will notify you that there is enough cheese to make 500 burgers and due to your sales pattern it will last you 5 days at least.
This helps you to order in advance and also avoid losing out on customers due to unavailability of your stock.
In some cases, you might purchase your fresh produce from different vendors. In such instances, you have the option of segregating your inventory by having different categories for different vendors.
Not only by vendors but by also having different categories for perishable goods, liquids, condiments, etc.
6. Real-Time Updates.
Always stay on top of things by staying connected to the activities that go on in the restaurant. By receiving updates you can be better prepared when to order and if the stocks are running low. So, a real-life update might just save you some time and money.