Restaurant Inventory Management: 4 Tips

Inventory management can be a crucial factor for any restaurant’s bottom line. An Investopedia article calls inventory management the process from ordering to selling or using a company’s materials, and they call a company’s inventory one of the most valuable assets. Having too much or too little of an item could end up costing an owner. Therefore, understanding the nuances of inventory management can be crucial for restaurant investment opportunities. Here are four essential tips for effective restaurant inventory management.

1. Obtrain an Restaurant Inventory System

Before you can order or manage your inventory, you need a tracking system. You may want to integrate a restaurant inventory system that tracks your inventory in real time, from the moment an ingredient enters your restaurant to the moment a finished product is sold. Using a food inventory management system can help your business maintain optimal inventory levels, help with forecasting future needs, and prevent excess waste, shortages and excesses. A system utilized correctly may reduce the guesswork of inventory tracking and provide a more clear snapshot of your restaurant’s operational needs.

2. Conduct Inventory Audits

Once you have a system, consistently verifying the efficiency and accuracy of a restaurant inventory management system may help improve your inventory tracking even further. These inventory audits can verify the accuracy of your inventory records and identify any discrepancies that could indicate issues like overstocking, understocking, or even theft.

3. Use a Restaurant Inventory Sheet

A restaurant inventory sheet can be a valuable tool for maintaining detailed records of stock levels, usage rates, theft, and more. Some examples of these inventory sheets even track food waste and help managers or owners see which ingredients are flying off the shelves. This can be a handy way to keep track of inventory that you can reference at any time, and help you pick up on patterns. This standardized approach ensures consistency across all locations, enabling franchisees to monitor trends, identify cost-saving opportunities, and make informed purchasing decisions. Monitoring supplies and ordering efficiently can help contribute to overall efficiency and reduce waste.

Depending on the franchise brand that you decide to invest in, tracking and managing inventory may be located in the franchise training and support materials and information.

4. Make Sure You’re Organized

It can be easy for things to slip through the cracks when items aren’t in their place. Whether it’s napkins, utensils, cleaning supplies, or food, making sure everything is in its place may help reduce waste or excess ordering. A Forbes Advisor article suggests organizing any inventory storage areas, using shelves and labels and assigning items to specific spots. In a restaurant, this could be anything from the freezer to the cleaning closet.

Enjoy Streamlined Inventory with Penn Station East Coast Subs

If you’re looking to get into the restaurant industry, but don’t want to start from square one, Penn Station East Coast Subs may be the opportunity you’re looking for. We strive to provide our franchisees with the support and information they need, including a well-rounded franchisee training and support system along with our manual that details operations — from the menu to restaurant inventory management.

Our comprehensive support includes help and guidance with:

• Site selection
• Restaurant design and construction support
• IT and online ordering
• Operations and training
• And more!

We’re looking for dedicated franchisees to be a part of the Penn Station family.

Are you ready to get started in the fast-casual market? Request information about Penn Station East Coast Subs today.