What is the use of a liquor inventory management software
Managing a liquor inventory forms a very crucial part of the bar business. Be it a huge hospitality enterprise or a local tavern, inventory management makes sure that every drop of the liquor which is served is accounted for. Inventory management makes sure that your money is well counted for and that your staff is not playing around with the numbers with you.
Since every penny counts and a penny saved is a penny earned, having a liquor inventory management system in place will make sure that your money goes a long way.
In order to have a proper inventory management system in place you have to account for three main stages. These three stages are that of receiving, transfers and requisitions and balancing. The first step of receiving is the stepping stone for proper liquor inventory management. It is on the basis of what you shall be receiving that the inventory of liquor will be balanced. You should check that the liquor order list matches the delivery list. There are many tracking tools that you can use that can make this process simpler and watertight.
The bridge between the bar and the stock room is that of transfers and requisitions. You should have a requisition process in place which will make sure that you know how much liquor is going where each night. Bartenders are given requisition sheets that they will need to fill out which will determine the amount of alcohol that will need to be transferred to the bar. Once the bartender has received the alcohol that he has requisitioned for he will need to sign off on the delivery slip.
The last and final step to liquor inventory management is that of balancing. This step helps you keep a tight control over your bar. Once the bar has closed for the day, everything that is left in the bar needs to be inventoried. Comparing the numbers in the inventory with what was in the bar to what was delivered to get to the final number of what should be left in the bar after closing. This will also help you account for what was used during the time that the bar was in operation.
It becomes very important to count and know what remains on your shelf so that you don’t expose yourself to liquor theft. Inventory control softwares help you analyze your number the correct and accurate way to generate reports that help in saving money by clever accounting. Inventory management softwares also helps in deciding what corrective actions you will need to take to manage your inventory better and generate more revenue.
Taking a count of the liquor inventory used to be considered a time consuming and a labor intensive task. This is a part of the bar operation which is far removed from the actual action but is crucial in making correct calculations and monetary predictions.
With the help of liquor inventory software you can make sure that inventory management becomes easy and there are no mistakes made as a result of human error. Employing inventory management software not only makes sure that there is no shrinkage but also gives you the speed and flexibility you need to get accurate numbers in lesser time with no errors.