The Importance of Information

Sales and Inventory reports

It’s probably safe to say that we all have limited time available to us, the seemingly neverending needs of your business, family and countless other pulls on your precious time. So time spent taking inventory and tracking purchases against recipes and sales is the last thing you want to be doing.  I mean why should you, when you can take a cursory glance at the walk-in or keg fridge and order what you need?

“We are nearly out of steak, so i’ll order another case”  seems innocent enough, right? But take a second to think before you place that order… Where did the stock go? You sold it right? Probably… 

Hopefully your point of sale (POS) is set up with itemized sales, which will allow you to gain valuable insight into your sales. What items are being purchased, and when they are purchased.  Whether items were discounted or comped due to customer complaints. But probably the most important question is “did you actually sell it?”

Yes?  Great! 

When did you sell it? All on Friday night? And you get 2 deliveries a week? Why order earlier in the week and pay for it before you need it? 

When did you last order it? Has it taken you 3 weeks to sell the last case, and it’s probably going to sit for a month if you order another? 

No? Ok, you should probably look into this…

First, don’t panic! There’s a few questions to start with

  • Is your POS set up correctly? Maybe it was sold as another item? Maybe sold as open food?* 
  • Did the chef put on a feature and it was sold as a different item? Or is it coming off the menu as it doesn’t sell very well or has a low margin?
  • Was it used as an ingredient in another dish?  Do you have a recipe log?
    • Are your recipes costed?
  • Check the kitchen wastage log? Do you have a kitchen waste log? Hopefully! 
    • Did it get thrown out because it was out of date?
    • Is the quality poor and your chef throws some out?
    • Is it being remade regularly due to order errors? This could be kitchen or front of house errors.
    • Did it walk out the back door?
  • Are your staff meals logged?

Accurate tracking of inventory and sales allows you to have a clearer picture of what’s happening in your business, and although it seems daunting, once set up it will take you a few minutes daily and you’ll have all the information you need to quickly check the health of your business and make necessary adjustments

Inventory and sales reports not only show you your sales and stock on hand, but can also give key information such as how well recipes are being adhered to, your total food costs, and margins.  They can also help you identify areas in your business that could use improvements such wastage and shrinkage as well as save you time and money.

NB Hospitality Solutions help you set up the necessary reports to quickly and accurately give you the information you need to make decisions.  get in touch today to find out more

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