Most bar owners and restaurant managers dread taking inventory, and mostly because the old way of maintaining order simply does not work for most places anymore. When the bar liquor inventory is done correctly, it decreases overall costs and increases profits more than most managers would expect.
Setting up an efficient inventory system requires a couple of steps and can go a long way in managing your business. With a straightforward system, you can spend more time doing the things you enjoy about your business.
Why Liquor Inventory Matters
Keeping inventory is an important step in managing a restaurant or bar. The liquor inventory consists of the entirety of liquors you have in stock. By knowing what you have in stock on a regular basis, you can ensure you are not purchasing too many of one item, or have perishable items that may turn sour. It is also a good way to monitor bartender use to ensure they are not pouring too much or giving away amounts of liquor.
Poor management of inventory can make or break many businesses. If you have too little in stock, you risk losing customers. With too much in stock, you may be overspending when you do not need to.
Learn More and Save Money
Having a clear management system for inventory helps all employees understand the process better and for you to save more time. An organized inventory decreases space issues and the issue of bottles missing, forgotten, or misplaced in the wrong area. It also helps avoid waste from ingredients that are added to drinks. Too much waste can equal losses in profit, which in turn hurt your business.
With an organized system, you can know exactly what is on the shelf and when you need to order more. An inventory system also helps you learn more about what your customers enjoy and what they keep returning to again and again. By knowing what cocktails are popular, you enjoy greater profits and happier customers along the way.
How Liquor Inventory Works
Taking inventory no longer has to be pen to paper. There is now advanced technology with POS systems that help you manage inventory with ease and access information from anywhere.
Inventory Software
Inventory software tracks everything you have, including amounts left and what needs to be shelved or replaced. While some owners still use spreadsheets, it may be a worthwhile investment in software that helps you have time and access information for multiple locations.
Count Bottles and Keep Categories
Count each bottle and track the alcohol type, name, brand, and bottle size that is on the shelf. Make sure all categories have their own column and record where other bottles of the same kind are. That includes keeping track of what is available in the bar and the storeroom. From there, separate the bottle into tenths and determine what the liquid level is at. Repeat the process for each bottle and record based on categories of spirits, wine, beers, etc.
Add It All Up
Add the totals for each category and repeat the process again when your inventory period has ended. With inventory software, you can keep track of weekly, monthly, and yearly use to ensure there are no losses and that your business continues to thrive with an organized system.
