Strapped for cash? Look on your shelves.
More often than not, I see money sitting in inventory instead of in the bank, available for payroll, repair and maintenance, or imagine: staff training. Another miss? Please don’t pretend that inventory in and of itself is a control system. It’s not. At best, counting inventory provides us nothing more than an asset count. There’s no control whatsoever in taking inventory as a stand-alone endeavor.
On the other hand, actually managing inventory is one of the most potent steps we can take -- with one restaurant or one hundred. In this chapter, we’ll see how managing purchases against a budget, rolling inventory actively, and tracking yield and waste is a strong key to bottom-line performance. From here, we can also teach team members tangible fiscal line-item management.
In this chapter, my focus is to share with you a quick overview and opportunity in Food Inventory Management. Beverage management has strong similarities. And it’s unique enough to deserve its own chapter. So, keep reading!