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Inventory management is an important function in any business – but it is particularly vital in the beverage industry. Liquor inventory is notoriously difficult to manage for a variety of reasons. Whether it is bartenders pouring too much alcohol in the mixed drinks, or employees simply walking away with bottles, a successful business needs to closely monitor the movement of liquor stock. Margins are small in the food and beverage industry, so even reducing loss by a few percentage points can make a huge difference. Many bars and restaurants are running behind the times when it comes to the technology they employ to track inventory. Failing to upgrade to modern liquor inventory control systems can be an expensive mistake that continues to cost the business money for years to come. While the upfront cost of a new inventory system might scare some business owners away, the long-term savings are typically more than worth the investment. Better Decisions with Better Information One of the main rules of business is that you need to have good information in order to make good decisions. Without accurate numbers, the decisions that you make will be educated guesses, at best. In order to improve your inventory control and reduce the amount of loss you are experiencing, you first need to have a clear picture of how liquor is moving into and out of your business. That goal will be best accomplished through the use of an inventory control system. Such a system will provide your employees with a quick and easy way to record liquor inventory levels on an ongoing basis. A properly implemented system will allow management to view inventory levels at any given time. Current, accurate information will make it far easier to spot problems, follow trends, make improvements, and more. It’s Not Just About Theft When working on inventory control, most business owners are thinking about theft – and that certainly is a concern, specifically in the liquor business. However, theft is not the only reason to use a liquor inventory control system. Specifically, you can use such a system to track profitability between different types of drinks, and different types of liquors. Once you know which drinks are serving your business best, you can focus on those items in specials and promotions to help drive sales. Not all drinks are created equal from a profit perspective, so learn which are your best performers and allow them to grow your bottom line. Time Matters Efficiency is something that has long been hard to come by in the inventory world. The process of taking inventory is usually despised by staff because it is redundant and time-consuming. Thankfully, that no longer needs to be the case. A modern liquor inventory control system leverages the power of technology to take away the boredom usually associated with this task. In fact, using a system that tracks inventory on a perpetual basis could mean that you don’t have to deal with the periodic long nights spent recording everything in the cabinet. To a large degree, the success of your liquor inventory control system will determine the success of your business as a whole. In an industry with tiny margins, you can’t afford to be giving away any portion of your bottom line due to lost inventory. Liquor is expensive even on a wholesale level, so each and every drop needs to be turned into profit for the business. Seek out and put into use the right liquor inventory control system for your business and you will be a big step closer to the long term success you desire. Ben Wayne writes for Accardis Systems, a beer and bar inventory control system company offering a sophisticated selection of inventory solutions.
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