Bar inventory software, known as a bar inventory management system, is a technology that integrates with your point-of-sale (POS) system to automate and centralize the processes associated with managing your bar inventory.
By uploading bar inventory counts to a beverage inventory management system, your bar will be able to gain insightful data into how you are using inventory. By providing the visibility and control you have over your bar’s inventory, you can make strategic choices that make your business more profitable moving forward.
Manual spreadsheets are time-consuming and typically lead to errors, resulting in inaccurate insights into your inventory.
The insights gained by a beverage inventory management system will help your business reduce food and liquor waste, design more profitable menus, optimize stock levels, and improve ordering processes. All of this leads to a more profitable business.
In this blog, we take a look at a few reasons why your bar should invest in a liquor inventory management system, as well as some considerations to think about when it comes to choosing the best software for the unique needs of your business.
5 reasons to use a bar inventory management system
- Save time to concentrate on delighting your guests
Counting inventory and writing those numbers on a printed spreadsheet is a time-consuming process that takes your staff members away from the core tasks that really drive your bar and guest experience forward.
Thankfully, with a bar inventory system, you can automate inventory counts. Counts are made easier through either weighing technology or electronic tenthing, which is then automatically entered into your beverage inventory management software.
- Gain visibility and control over your inventory
Your bar’s inventory is its biggest asset. Your inventory is an investment into the profitability of your business. But if you aren’t looking after that inventory and analyzing how it’s performing, your business isn’t going to be as profitable as it could be.
Liquor inventory management software gives you the visibility and control you need to see exactly how your business is performing. Gain insight into where you are losing inventory, what your most profitable menu items are and your optimum on-hand stock. The better you optimize your inventory, the more profitable your business will become.
- Improve your ordering processes
Clear visibility and control over your inventory leads to better, and more strategic, ordering decisions for your bar. You’ll be able to understand your periodic automatic replenishment (PAR) levels to optimize stock levels and inventory orders.
- Reduce workforce costs
Liquor inventory counts should be done when your bar is closed. If not, stock items could be moved around during the count, making your final numbers inaccurate and skewing all of your insights.
As a result, you are probably paying one of your staff members overtime to complete inventory tasks. While you will still have to do that with the implementation of a bar inventory management system, you’ll be able to significantly reduce the hours required through process automation and ease of use.
- Minimize inventory errors
When taking inventory counts on manual spreadsheets, mistakes are inevitable. That’s nobody's fault, it’s just what happens when tasks are time-consuming and manual - people make errors.
The problem is when these mistakes happen it impacts the insights you have into your inventory. By using a liquor inventory system to automate these processes and do the math for you, you gain consistent and accurate data every time.
Choose the top bar inventory software
Different service levels: Your business is unique. The scope of your in-house resources, where your bar is located and the speed of your company’s growth all play in what software you’ll need to be successful. Make sure the bar inventory system you use has the right functionalities, right support and right price for the specific requirements of your business
They aren’t just a tech solution, but they offer expert advice: Just because you invest in liquor inventory software, doesn’t mean you know how to use it to optimize your inventory performance. That’s why the very best bar inventory system providers also offer expert advice. You should have access to inventory specialists who understand how your organization can best use its inventory management system to boost profitability.
Interested in learning more about choosing the right bar inventory system for the unique needs of your business? Get in touch with Sculpture Hospitality today. We would love to help you choose the right solution.