How Can a Restaurant Inventory App Increase Your Profit Margin?
At the moment, your current inventory management system may be a pen and paper coupled with Excel. As a business owner, you know that tracking inventory that way can create a dangerous situation. What if you lose that piece of paper before you can enter numbers in the spreadsheet? What if you put the wrong quantity down either initially or when you enter it again on the computer?
And of course, the delay between taking inventory and updating your file means you never have an accurate count of your stocktake.
With a restaurant inventory app, backed by a complete restaurant inventory management software solution, much of the human error in taking inventory is eliminated. Inventory managers can take both food and bar inventory via a mobile device, updating quantities and values immediately.
What Is a Restaurant Food Inventory App?
Restaurant inventory apps let you take and keep inventory levels in one accessible place via the cloud. Inventory managers use the app to count stocktake and enter numbers in real time to pre-populated and pre-categorized fields for each inventory item.
Good inventory software will help you keep enough stock on hand, track waste, and plan cost-effective menu items.
It will integrate with your POS system, as well, so you can compare inventory numbers with sales, allowing you to keep track of your food costs as well as your food cost percentage, update recipes and order quantities, and adjust your menu items to meet the demands of your customers.
What Are the Benefits of a Restaurant Inventory Management App?
Aside from accuracy and ease of use, there are other benefits to using mobile restaurant inventory management software for your inventory tracking. Here are four of the biggest perks of restaurant inventory software.
Real-Time Stocktake Updates
When managers, chefs, and restaurant owners look at inventory levels to plan specials, reorder low items, and compare against sales, they know that they’re looking at numbers that accurately reflect what’s sitting in their restaurant at that very moment.
Accurate Food and Beverage Values
Inventory management apps not only allow you to stay up-to-date on food and beverage quantity, but also on value. At any time, the software lets you know just how much your stocktake is worth.
Track Low Inventory
Never get caught without a key ingredient again. Keeping inventory on a mobile app means you always have a clear picture of what’s getting low and what needs reordering. And you customers are never without their favorite dishes.
Monitor Food Waste
If your food inventory management app is integrated with your POS system, you can compare items sold with inventory data, giving you a clear picture of how much food is being wasted. Once you know that, you can pinpoint the reason why it’s happening and take steps to fix it.
MarketMan’s Mobile Inventory Management App Features
MarketMan’s mobile inventory management app is unlike other inventory tracker apps. It also helps you manage your inventory costs, streamline the ordering process, and get insights into the best way to maximize your stocktake and increase your profit margin.
The mobile app is backed by a robust software suite, all wrapped up into one restaurant management software service.
Real-Time Inventory Updates
Because the mobile app allows your staff to update stocktake in real time, you, your chefs, and your managers know exactly how much of each ingredient is on hand at any given time. Chefs can alert FOH staff if they’re out of a special right away, managers know exactly when to reorder food, reducing over-orders that can increase spending and waste, and owners can monitor usage and adjust processes to keep costs down.
For example, if spoilage is a problem, managers can determine if they’re over-ordering food, or if switching to a method such as lean inventory might reduce wasted food and food cost overall.
And if you have more than one location for your restaurant, the inventory software can show you stock level across restaurants on one dashboard. It can also help you regulate budgets and allows for vendor management across locations to keep food cost down.
Low Inventory Alerts
MarketMan allows you to set par levels in the software. When inventory reaches or dips below par level, it sends you or the ordering manager an alert. You’ll never find yourself short of an ingredient in the middle of a busy shift.
When you get that low inventory alert, MarketMan will suggest which items need reordering. It takes just a few seconds to select the items and the vendors in the software, and hit send. MarketMan sends purchase orders for you.
You can set budget and spending limits, as well, to ensure your staff isn’t breaking the bank on the most expensive ingredients.
Cost Variance Reports
Once you have your inventory and invoices uploaded to MarketMan, the restaurant software reports actual vs. theoretical food costs. You can see in real time the cost of every ingredient in your stocktake versus the money you’re actually spending because of spoilage, waste, misfires, or theft.
It’s just another feature that helps you keep tight inventory control and your inventory budget.
Keep tabs on exactly how much each ingredient is costing you. Compare each one against your inventory and sales all in one place in the software to determine if it’s time to replace an ingredient with a cheaper one, or entire menu items with something more cost-effective.
MarketMan tracks the price of food items and updates them in real time. Restaurant operators can keep track of inventory costs, total food cost for each recipe, and even get alerts for unprofitable menu items.
If at any time you have a question or need help optimizing your inventory app experience, MarketMan’s customer support is ready to help you. You can contact us through our site or use our library of articles and FAQs to find the information you’re looking for.
How Do You Take Inventory With MarketMan?
The first time you use MarketMan’s mobile inventory management app, you will have to enter each ingredient and its quantity. After that, however, inventory counts are simply a matter of scanning barcodes or entering new quantities for each saved item.
You can even group inventory items, such as dry goods, liquor, or refrigerated goods, so your staff can take inventory of certain categories at different times or frequencies.
Once you begin uploading invoices and integrate your POS system, MarketMan’s inventory app can begin sending you valuable information right to your dashboard.
Good inventory management is at the heart of a profitable restaurant. By keeping an accurate inventory count, you can make decisions that keep your customers happy and your restaurant in the black. Using a mobile restaurant inventory management software solution like MarkeMan can take the work out of restaurant inventory management.