Restaurant inventory management may not sound like the most glamorous element of the business, but it’s certainly one of the most important. Here’s how to avoid running out of crucial items.
Welcome back! This is the final installment of our three-part series on Restaurant Technology Trends. Today, we we’ll be discussing the practice of Just-in-time (JIT) inventory. (Please click on the links if you missed our previous posts about the Internet of Things (IoT) or Big Data). Just-in-time (JIT) inventory is just as it sounds! A JIT management system is one in which materials and products are produced or acquired ONLY as demand requires. After all, maintaining inventory takes time and has associated labor costs as well. But when you can continuously track what has been used and what remains in storage, you can make well informed choices when placing orders. You don’t want to tie up capital in inventory unnecessarily, and you don’t want to
Restaurant managers know that after labor, food costs are the largest expense on your balance sheet. This means that monitoring inventory is extremely important for controlling costs and keeping your business in the black. Managers are choosing inventory systems that can be updated constantly and even anticipate when new supplies need to be ordered. These 10 steps to create a critical inventory system are a guide for restaurant managers to keeping your shelves stocked and your restaurant running smoothly. After all, if your cooks run out of eggs, the ‘yolk’ is on you! 10 Steps to Create a Critical Inventory System 1) Start From Scratch. If you are a new restaurant manager, taking over a new restaurant, or instituting new inventory policies, it’s a