Significance of Inventory Management Software in Food and Beverage Industry

1
Significance of Inventory Management Software in
Food and Beverage Industry

• Inventory consists of all the items or raw
  materials required to prepare dishes in the
  restaurant, and inventory management system helps
  you track each ingredient used in the
  dish. Inventory management systems integrated
  with the restaurant POS allows you to control and
  organize each and every aspect of the stock,
  maintains a smooth flow of supply and also helps
  you boost your overall profit. As the volume of
  business grows in a restaurant, inventory
  management becomes a important part of restaurant
  operations.

2
Features of Inventory management

• Daily stock consumption report generated
  Provides up to date reports of item (available,
  not available, over stock, under stock) Track
  of material demand, re-order level and closing
  stock of FB Tracks moving stock items inward /
  outward, material wastage, procurement and expiry
  dates Track of material consumption and its
  automatic updation into inventory Recipe
  management in Point- Of-Sale software is a very
  helpful tool in our system which track material
  as well as items that are over in the kitchen

3
Here are the essentials of inventory management
that you should practice

• Monitoring the stock
• You must always remember to organize your
  existing stock before bringing in a fresh stock.
  Unavu POS inventory management software gives you
  the available stock count at the beginning of the
  day, and the stock closing at the end of the day.
  It calculates the balance stock automatically,
  and tallies it with the available physical stock.

4
Raw material management

• Managing the inventory smartly is essential to
  avoid wastage. Use these points to make sure that
  your stock is efficiently used.
• Try to adopt minimal stocking approach for
  your restaurant inventory, especially in case of
  the perishables.
• Try to use seasonal products. With smart menu
  engineering, you can use them for a seasons
  special. This way, youll be able to attract
  customers with something new, and also avoid
  wastage of perishables.

5
Unavu POS

• Unavu POS prompts you to reorder when you run
  out of supplies. You can set a re-order level for
  each of your items. As soon as the ingredient
  reaches that level, a reminder mail will be sent
  to you to re-order that ingredient in advance.
  This prevents the embarrassing situation of
  running out of supplies during operation hours.
  This is especially helpful in case of popular
  items and perishable items that need to be
  restocked frequently. Also, ordering only when
  required helps avoid wastage.
• Make sure that items are being used on a First
  in First out (FIFO) basis. That is, use the older
  stock first. Only when the previous stock has
  been used up, use the newly purchased items to
  prevent wastage.

6
Recipe management and costing

• Standardization and management of recipe is
  essential for proper inventory management as it
  helps in curbing food costs. In a standard
  recipe, the quantity for each ingredient to be
  used is specified therefore the inventory
  management system can easily judge the number of
  days the remaining stock will last. Random use of
  ingredients leads to an imbalance in the stock
  and causes the stock to dry up before time.
• You can also get an estimate of how much
  preparing a dish would cost you by the help of
  recipe costing feature. You just have to feed in
  the recipe along with the portion of each
  ingredient, and the inventory management system
  gives you the food cost for that dish. This
  further helps you decide the selling price of
  that product. Ideally, the food cost should be
  30 of the menu price or selling price.

7
Reporting and analytics

• Reporting and analytic is another important
  feature of inventory management that helps in
  restaurant operations. The sales reports and the
  raw material usage helps forecast and create
  future plans. Profit and loss reports are
  generated depending on the stock sale and
  consumption. This feature further helps you to-

8
Analyze inventory trends

• You can analyze the inventory trends to make
  informed decisions such as deciding the menu.
  Detailed reports based on the consumption of each
  stock gives insights on which ingredient is the
  most popular, and needs to be utilized more in
  the recipes.
• Keep a track of stock and maintain accuracy An
  accurate list of the available supplies helps you
  keep track of the daily and weekly usage