As technology permeates into more industries, it’s bound to hit the old school businesses like Real Estate and the Hospitality industry. These type of businesses have already jumped the bandwagon of Social Media and also look out to keep their reputation intact on sites like Yelp.com
But what about making them more efficient? They have KOT softwares and billing softwares to make the process of billing easier, but this is just the tip of the Iceberg, the real action in a restaurant, happens in the kitchen. That is where all the decisions are made as well as the mistakes that can make or break the restaurant.
Making the kitchen an efficient place and handling inventory is the crux of running a restaurant and that is why there is an emergence of a new breed of technology that will make restaurant and other F&B establishments 10x more efficient. It’s Food Inventory Management System.
What is Food Inventory Management?
It’s a software that helps with better handling of Inventory by predicting future inventory, by helping with taking stock and better management to avoid wastage.
Features of Food Inventory Management
Reduces Employee Interaction : A kitchen can be a chaotic environment with different aspects having to run smoothly. In current cases, instructions are shouted out, questions are asked and human interaction can lead to a lot of errors.
With the Food Management System, interaction relating to the work is reduced. If somebody wants to check how much of the Inventory is left, they can check it themselves. If something is running out, they can place the order themselves instead of shouting out instructions to somebody else.
Suggested Ordering : Ordering Inventory can be a painstaking task. Every week a member of the kitchen staff has to sit down and list down all the groceries that is required and speak to the chef if they want something else to be ordered.
With the Food Inventory software there’s enough data to tell the managers how much quantity to order based on the consumption. If every time, the perfect quantity is ordered, there is lesser wastage because of the product getting spoilt.
Recipe Handling : The system also maintains a database for recipes. Recipes and Ingredients are listed including the preparation methods. This is great when a new chef has to come in or if the ingredients have changed. It makes the transition very smooth.
- If a new dish is created, the recipes, ingredients and preparation techniques can immediately be added to the system for everyone’s perusal.
- If a there is a change in ingredients which affects the price, it can be immediately changed in the menus without having to lose profitability.
Profit Handling : The Inventory system also affects profit margins. If a supplier of an item essential for the kitchen has increased their price, then this change will be reflected in the system and it will intimate you of how it’s going to affect your profits. This is important because if at the higher prices, you reduced your profit potential then either you increase the price of your dishes or you change the supplier.
Stock Handling : Physical Inventory counts are the most important task in the kitchen. It’s important to corroborate actual stock values to the ones in the system. With the Inventory management system you can verify how the inventory has been consumed. For the actual food, inventory that has been wasted and employee theft.
Head Office Control : The best aspect about the Food Inventory system is the fact that it can all be centrally managed from the head office. If you are the owner of a chain of restaurants it can be hard to check every franchise and this is why a central food inventory system works. You can check the individual aspects of the each restaurant and also control and lock the purchasing done by the managers in the Individual restaurants
Supplier Ordering: Novatise has enabled a SMS or EMAIL system where all orders will be processed straight to the suppliers. All these orders can be tracked via our backend system, making sure your food suppliers receive the right order at the right timing.
Who is this Food Inventory System for?
- Chain Restaurants
- Chain Restaurants must need a food inventory system. Otherwise handling of the Inventory and the minute details of operations can be a big hassle. With chain restaurants, it’s easy to mismanage and the potential for fraud is also high. If a chain restaurant wants to have a bigger picture idea of their business and avoid major catastrophes, it’s important to have a food inventory system
- Restaurants with high-turnover of guests
- Restaurants with high turnover of guests has a lot of inventory coming in and going out. The automation of quantities will really help in the Inventory buying process
- Restaurants that are big in size
- Big restaurants always have to buy large quantities of materials. But, in order to buy for a period, restaurants might over purchase which might lead to wastage because of the materials getting spoilt.
- Restaurants in High competition spaces
- Restaurants in zones where there is high competition have to be in their efficient best. 5 minutes late or bad food served can make the customer leave and never come back. There’s also a high chance of espionage or fraud and all of this can be handled by the Inventory system with strong protocols that protects the restaurant and it’s proprietary information.
Just like young startups 98% of new restaurants shut down within the first year and a lot of this is self inflicted. If you are looking to survive a rough industry with high competition then you have to enable yourself with tools.
If a competition with better technology and efficient handling of resources comes up, they will eat up the competition who still use old and manual methods. For restaurant chains who are looking to scale and start a chain of restaurants, it’s important to get a Food Inventory Management System in place because of the processes and the control it gives. You can set-up a team and set-up a system and move on to your next restaurant and repeat that process.
Contact us if you are keen to find out more about our Proprietary Predictive Food Inventory System for the F&B sector.