Weekly Inventory Management System to Cut Food Cost & Reduce Theft
Weekly Inventory Management System to Cut Food Cost & Reduce Theft
Now, as a restaurateur, consider the challenges of dealing with food. First, your inventory is not like a plate of french fries at a bar counter. Most of it is highly perishable. Your ingredients have a limited shelf life, much of it less than a week, some as short as just a day or two.
Fail to use a product within this short time results in throwing it to trash along with some of your hard-earned profit. Further, you have a lot of people who handle your food inventory. From the time your products are ordered, received, stored, prepared and ultimately served to your customers, even a small restaurant may have atleast 15-20 people involved in the food production process.
The more people involved in taking “raw” inventory and converting it to the delivered product, the more difficult it is to control loss, waste and misuse of inventory. As the saying goes, "Too many cook, spoils the food", waste and theft become hidden problems, gradually eating your gross margins. And on the subject of theft, even a small eatery has dozens if not hundreds of raw and partially prepared food products in storage. You’re stocking lots of desirable products to which many people have access. Depending on size, nature, volume and recipes in your business, there’s a good chance that you’ll have between 200 and 500 different raw food products in your storage rooms that are of value to everyone. The more products you have, the more challenging it is to control their use. The more of anything you have, the less likely one or two items will be immediately missed.
A true inventory system have an interface to record your physical inventory and tallying it with your computer inventory. It also allows you to adjust the inventory if there is any discrepancy. It helps you to earn more by deriving smart ways to control and reduce inventory cost.
Weekly Inventory Management System to Cut Food Cost Reduce Theft - To learn more about this author, visit Nilesh Shah's Website.
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It’s easy and, unfortunately, common for restaurants to lose money through poor inventory management. Beginners are particularly exposed to this cash drain, since they often do not have their financial control systems secured. But even the most well-managed, established restaurants have ongoing challenges in this area.
Now, as a restaurateur, consider the challenges of dealing with food. First, your inventory is not like a plate of french fries at a bar counter. Most of it is highly perishable. Your ingredients have a limited shelf life, much of it less than a week, some as short as just a day or two.
Fail to use a product within this short time results in throwing it to trash along with some of your hard-earned profit. Further, you have a lot of people who handle your food inventory. From the time your products are ordered, received, stored, prepared and ultimately served to your customers, even a small restaurant may have atleast 15-20 people involved in the food production process.
The more people involved in taking “raw” inventory and converting it to the delivered product, the more difficult it is to control loss, waste and misuse of inventory. As the saying goes, "Too many cook, spoils the food", waste and theft become hidden problems, gradually eating your gross margins. And on the subject of theft, even a small eatery has dozens if not hundreds of raw and partially prepared food products in storage. You’re stocking lots of desirable products to which many people have access. Depending on size, nature, volume and recipes in your business, there’s a good chance that you’ll have between 200 and 500 different raw food products in your storage rooms that are of value to everyone. The more products you have, the more challenging it is to control their use. The more of anything you have, the less likely one or two items will be immediately missed.
A true inventory system have an interface to record your physical inventory and tallying it with your computer inventory. It also allows you to adjust the inventory if there is any discrepancy. It helps you to earn more by deriving smart ways to control and reduce inventory cost.
Weekly Inventory Management System to Cut Food Cost Reduce Theft - To learn more about this author, visit Nilesh Shah's Website.
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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