How you manage your inventory can make or break your business. Effective inventory management control requires that your restaurant accurately tracks inventory stocks to make the appropriate purchasing decisions and to obtain stock at the optimal level of demand. If you’ve been side-sweeping your inventory management, here are five inventory control basics you might be […]
There are more reasons than one for why businesses don’t succeed. For a majority of failed restaurant businesses, they blame poor management and inventory practices as their demise. To ensure your business doesn’t suffer the same fate, check out these common bad inventory practices and what you can do to avoid them. Using Excel To […]
If you don’t have an inventory management system in place, the smallest oversights can quickly accumulate and start costing your business money. And one of the costliest mistakes you can make is to miscalculate your employees’ work hours. Sloppy records can lead to hefty losses that can even put your business out of service if […]
When you own a restaurant you never want to run out of food, but you also never want to have too much inventory. Having the right amount of stock on hand is crucial to maintaining your bottom line and driving profit. Keeping a large amount of inventory on hand can cost you more than just […]
Tracking inventory is more of an art than anything. It takes careful selection, forecasting, and elaborate planning to ensure that the right amounts are ordered, and the inventory of these items are properly tracked. Without a proper inventory tracking system in place, there are just too many opportunities for miscounts in storage, along with order […]
One of the biggest reasons why restaurants go out of business is because they don’t have a well-designed budget. Having control over your business expenses, inputs, and services is the only way to get ahead in this highly competitive industry. If you’re looking for ways to improve your budget for the New Year, check out […]
The restaurant industry continues to outdo itself year after year. Just when you think you’ve seen it all in dining, something new and exciting pops up that starts a foodie craze. Trends that have been on the rise in 2017 are really starting to take off and will make even bigger debuts in 2018. So […]
When you have inventory problems, it will impact your bottom line. And a company who loses profits can easily go bankrupt if they can’t find a solution to turn their situation around. You need to steer clear of common inventory problems like the 5 examples below in order to gain control and get your business […]
Running out of items in your restaurant can create unhappy customers and a bad reputation for your business. Ordering too much or in bulk can also have negative consequences on your bottom line – especially if you’re serving older stock items that have been hanging on your shelf for a while. If this sounds familiar, […]
Inventory Management is what keeps your business afloat. Without it, you could risk losing sales and end up wasting money that could force your restaurant to close. Figuring out the correct amount of items to keep in stock, along with the proper flow of goods, the correct handling, and the best pricing options, is crucial […]