Square Restaurant Inventory Management with MarketMan
Square, the all-in-one restaurant point of sale system, helps restaurants of all sizes scale their business with a cloud-based solution for taking orders. From secure credit card processing to POS hardware and software solutions, Square offers restaurants a variety of ways to take orders, track sales, and stay organized.
POS systems go hand-in-hand with inventory management. With sales data entering into the POS in real-time, it has all the information you need for inventory management: quantities sold, modifications, most popular items, and more. Square users turn to MarketMan for inventory management, automated ordering and procurement, and real-time reporting, to complement its easy-to-use POS.
How does Square work with Marketman?
MarketMan integrates directly with Square: sales information received through Square plugs directly into MarketMan’s inventory management system, providing a full-service back of house add-on to Square’s robust sales platform. Because both products are cloud-based, the data flows dynamically and instantaneously, so your inventory updates in real-time with sales information.
How does POS data work in MarketMan?
MarketMan tracks your entire inventory at both the recipe and ingredient level. When a sale is recorded using a Square POS, MarketMan automatically deducts ingredients from your inventory, so if someone orders a burger at the cashier, a bun, beef patty, and slices of lettuce, tomato, and cheese are depleted in real-time.
What about modifiers and substitutions?
Because MarketMan offers ingredient-level tracking, modifiers and substitutions are fully tracked as well. If a customer orders a burger with extra cheese, no onions, and bacon, those ingredients are depleted along with the others used for the original recipe. This data is especially useful for sales forecasting and profitability reports, as you can see which modifiers are more or less popular.
Can MarketMan manage ordering and procurement?
MarketMan tracks every ingredient used in each sale recorded by a Square POS, and with par level and low stock alerts, it can be configured to automatically reorder inventory items the moment a sale depletes your stock. This level of inventory automation wouldn’t be possible without sales data, and for restaurants leveraging Square’s POS, integrating helps save countless hours, prevents under or over ordering, and ensures you’re getting the most out of your inventory.
What’s unique about Square inventory management through MarketMan?
MarketMan and Square work closely together to deliver a solution that gives you the most insight possible into your costs and sales. MarketMan’s reporting suite uses Square’s real-time sales data to build custom profitability and variance reports to help you make informed decisions about pricing, cost of goods sold, and even waste/theft reduction. Without MarketMan, Square only provides sales data, and you’ll need to calculate reports involving both sales and inventory data by hand.
How does the Square integration inform menu pricing?
Inventory tracking, paired with live sales data, shows sales performance for each menu item — and their components — relative to their costs. If a burger with avocado, bacon, and extra cheese is selling at higher volumes, MarketMan can help you determine the ideal price relative to your cost of goods sold. If certain menu items or modifications are being ordered consistently, you can alter your menu to reflect the desires of your customers on the fly, without any of the guesswork.
Does MarketMan offer perpetual inventory tracking?
Because MarketMan is cloud-based, it offers real-time, perpetual inventory tracking that is bolstered by Square’s POS data. Rather than conducting inventory counts by hand, or matching sales information with end of day counts, Square’s integration with MarketMan allows you to see an accurate, up-to-date view of your inventory.
What kind of reports can MarketMan run with Square POS data?
Using sales data from Square allows MarketMan to run precise cost of goods reports, variance (both actual and theoretical) reports, and food cost reports, as well as profitability and sales. Square’s granular sales data, in conjunction with MarketMan’s robust inventory tracking data, can give you the most accurate view into your restaurant’s health as possible.
Does your restaurant use Square? Find out how MarketMan can take your restaurant’s inventory management to the next level: request a demo today.