5 Inventory Reports You Need for Your Restaurant

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Creating and regularly updating inventory reports is a crucial part of running your restaurant. You need to know how much product you have in stock, what your top-selling plates/items are, the value of your stock and more. It’s critical that you keep your eyes on these so you can continue to drive growth.

But, there are so many things happening at a restaurant. In the pantry, kitchen, and on the floor, people and food move insanely fast. How is it possible to pull and understand inventory reports with everything that’s going on?

The truth is: five main types of inventory reports will help you run your restaurant smoothly. Discover how you need to manage your stock and make your business even more profitable by hitting top restaurant business metrics.

What Is Restaurant Inventory Management?

Keeping up with your restaurant’s inventory means that you track, update, and monitor your stock regularly. It’s an essential part of running a restaurant. From knowing what’s in your pantry to how many bottles you have in the bar, inventory reports let you know how well your restaurant’s performing, and what you need to do to fine tune your business success.

Inventory management lets you know about your stock, how your staff is performing, how well your dishes are selling, and which are the most profitable. These inventory reports can also prevent waste and focus your attention to improvements that grow your business. They will help you keep an organized business, and let you oversee a busy and hectic environment with reliable numbers.

The Top 5 Restaurant Inventory Reports

Not all restaurant inventory reports were created equal. You need different reports to measure specific parts of the business. While there are other types of reporting that could help your specific restaurant type, these 5 are generally the most crucial for any business in the foodservice industry. If you have these 5 inventory reports regularly updated, your restaurant can run smoothly and efficiently.

1. Inventory On-Hand Report

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Of course, whatever’s in your pantry at a given moment matters the most. You need to know what you can work with as you’re running a restaurant. So, inventory reports of current stock need to be updated regularly and reliably.

Think of this as your base inventory report. The data from these reports informs you of all the other types of restaurant inventory reports. It will also show you the current value of your inventory.

If you’re confidently keeping track of your on-hand inventory, you can accurately guess the changes and depletions, and stock up fast if need be.

Ideally, your inventory reports will also show you the current value of your stock on-hand and allow you to report on it for a point of time in the past. Shopventory’s Inventory Reports do this out of the box.

2. Low Inventory Report

Your restaurant needs a regular supply of foods and ingredients to keep the business going. So, knowing what you need, how much of it, and most importantly, when to order it is crucial to the smooth running of any kitchen. That’s why your restaurant needs to keep and monitor low inventory reports.

If you run out of a key ingredient on a busy night, that could cause a lot of inconveniences, both for you and your guests. Luckily, with Shopventory, you don’t need to worry about forgetting something from your low inventory report. Items will automatically be added, so you’ll always know what ingredients you need to reorder for your kitchen.

3. Purchase Order Report

Once you’ve identified your products that are running low on stock, the next step is to get to ordering them.

Using an automated Purchase Order tool (as included with Shopventory) is ideal to save time, but once the order has been placed, you’ll want to monitor the incoming products on a Purchase Order Report.

Knowing what your incoming stock is can help you plan for the future of your business. Plan your specials or extra menu items according to your purchase order report, so you can run an efficient and well-prepared kitchen on the day it arrives.

4. Waste Report

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Accidents happen. Sometimes a steak is too well done and there’s nothing to do but call it a waste. Luckily, if you have accurate waste reports, you won’t be crying over spilled milk. Literally.

Train your staff to document every wastage that happens in the kitchen and on the floor.

Make sure they write down the items, the quantity of the loss, and the reason for the waste.

You can always calculate your restaurant’s waste report by comparing the theoretical sale value of your inventory vs your actual sales. But, having a waste spreadsheet is still an important report. Keeping track of it can help prevent food waste wherever possible.

5. Multi-Location Inventory Report

If you’re managing more than one restaurant, you need to know how your inventory looks in multiple locations. Should you run low on a particular ingredient on a busy night, you can always coordinate a refill with a sister-location.

Your reporting system should be cloud-based for this reason and allow you to view the stock levels of your sister locations. That’s how you’ll run an efficient and successful restaurant chain.

Streamline Your Inventory Management and Sales Systems

Having multiple reports is necessary but sometimes troublesome. When you’re running a business you need to make sure your work is streamlined and efficient. And managing inventory reports, purchase orders, and sales systems at the same time can be overwhelming.

Getting started with a smarter Restaurant Inventory and Reporting system is easy. The team at Shopventory is here for you and offers a 30-day free trial and 30-day money-back guarantee for 60-days risk-free.

 

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