If there is something that restaurant workers hate the most, it is doing inventory. Inventory is done daily, at the weekend, or at the end of every month where all the stocks of foods, beverages and many other items are taken into account. Things are measured, weighed, and counted manually and put up in the system. Inventory, when done manually, not only requires great manpower, but is also time consuming and lacks accuracy.
One thing that most restaurateurs underestimate is the effect that their inventory can have on the revenue they generate. There are many ways in which inaccurate inventory levels affect the business:
Overstocking: A situation which arises due to excessive ordering which increases the risk of mass spoilage.
Understocking: Due to poor forecasting, when Foods and Beverages are ordered in lesser quantities than required, it results in loss of revenue opportunity.
Pilferage- Pilferage is very common where operations take place on a large scale and storages are not monitored, due to which it mostly goes unnoticed.
Spoilage: It is another big factor which could affect the revenue as spoilages are best termed as cash throwing in the trash.
Overuse in Recipe: While preparing food in a large quantity, any particular ingredient could be overused, which ultimately affects thqe inventory.
Buying at higher cost from the local market: Any fluctuations in the local market could soar up prices of a certain raw food material, which could affect the costing of one or more dishes.
Bypassing the quality standards: With an improper inventory, the quality standards are very much likely to be compromised in any restaurant.
It is clear how an inaccurate inventory could affect the revenue. Here, the question arises, could there be a better way or indeed the right way of doing inventory? The inventory management system by TechRyde could be the best fit here as it offers many features which inventory like never before.
TechRyde offers a cloud-based inventory system that automates your restaurant’s operations and manages your business efficiently. With its outlet level reporting, anti theft module and live inventory tracking, the system gives you an easy way to manage and control food costs. With its user-friendly interface that requires no special training, set the system up and running in no time.
TechRyde inventory variance management system comes with features like
Theft Control: A visual of raw materials and used produce variance allows you to monitor your inventory.
Predictive Menus: Machine learning based predictive menus allows you to forecast your sourcing needs in advance.
Clould based Inventory System: TechRyde hosts it so you don’t have to worry about it. Simple and easy to use with no downtime. Mobile app and tablet support for stock taking.
Single or Multiple Locations: Seamless coordination of inventory and stock along single or multiple locations.
Easy onboarding: Easy onboarding allows you to use the system in no time. The simple user experience means no time gets wasted on training.
Recipe Optimization: It allows you to balance your recipes while maintaining their costs.
Suggestive Ordering: To avoid last minute shortage of any raw food material, keep your stock complete with suggestive ordering. The system suggests ordering of any item which is used very frequently or in large quantities and is likely to get over before the next order is made.
Smart Inventory Taking: An effective solution to manage the operations of multiple outlets & franchises from a single place.
Mobile Enabled: Monitor the daily stock consumption & control food costs with increased profits in your phone.
Integrated with POS: Pull up detailed data directly from POS.
Realtime Usage Monitoring: Get the real time data of your inventory.
Smart and predictive alert mechanism: It is designed to predict and alert you before you run short of any raw food material.