When it comes to inventory management, it’s time to raise the bar. Every business needs to be able to manage its inventory effectively, and pubs, bars, and other establishments that serve alcohol to their customers are certainly included in this category. The great thing is that you do not have to rely on old methods of managing your inventory, such as Excel spreadsheets or pen and paper. There is a better option available to you that can help you raise the bar and lift your spirits. That option is inventory management software. Let’s go through some of the ways that software like this can help your bar with its inventory management.
Keep Track of the Assets You Have In Stock
At the end of the day, do you still have all of your barstools, shot glasses, beer mugs, bottle openers, and other assets that you started out with? That’s a good question to ask. These are things that you use to run your business and facilitate selling alcohol to your customers, so they are quite important. Of course, regular wear and tear is to be expected, and you can’t necessarily expect everything to stay unbroken and in perfect condition forever. But you should be able to get an idea of how many assets you need to keep on hand and how many broken ones are considered acceptable losses over a certain period of time. That is what an inventory management solution helps you to do.
You can set up sub-locations within a larger location, such as tables and counters in a bar. Then you can make sure every barstool, shot glass, and other asset in the bar has an assigned spot that you can put them in. Doing this makes it easier to find items and avoid misplacing them. You will save time that you would otherwise have to spend on hunting through counters and floor space to find lost assets. You will also save money by ensuring you have the optimum number of items so you do not order things you do not absolutely need.
Order More of What You Need When You Need It
You never want your stock of alcohol to run dry. Always have the right beverages literally on tap by creating automatic reorder points for everything you sell and use on a daily basis. That way, you can run a report to let you know precisely what needs to be reordered and when it needs to be reordered. You can also set up the quantities you want to reorder so you do not wind up with too many or too few of them. And finally, you do not have to worry about remembering who each item should be reordered from. That’s because you can set up default vendors for each and every item you sell and use in your operations so that there is never any question which vendor will be listed on the purchase order that gets issued.
Imagine trying to do all of this without the aid of an automated inventory management solution. Actually, you probably do not have to imagine at all because that is the reality for many companies. It’s quite a logistical nightmare. There is an incredible amount of time that could be saved by relying less on handwritten notes or warehouse workers’ memory and instead relying more on barcode scanners, automatically updated records, and software that is designed specifically for the job of inventory management.
A New Solution to an Old Problem
Bars have been managing their inventory for hundreds, if not thousands, of years. And for most of that time they have been forced to use the best tools at their disposal (which haven’t been exactly what you would call high tech) to keep track of everything. And now you have the best tools imaginable right at your fingertips to help you with this age-old problem. You can scan products’ barcodes to quickly bring up a great deal of information on them, such as their in-stock quantity, location, vendor, price, and more. Plus, you can perform cycle counts and even place orders without having to type in the exact SKU, UPC, or other identifying number for the appropriate item. The scanner does that for you. There is no danger of the wrong item being ordered or anything like that. In fact, you can even integrate your inventory management software with your accounting software to eliminate double data entry. When you place an order or receive an order, the inventory solution transmits that information to the accounting solution, which then makes the proper adjustments to the general ledger and even generates any necessary documents, such as invoices.
There are all kinds of ways that an inventory management solution can help your bar make a big leap forward in terms of how you handle all of your equipment, beverages, glasses, and more. Sign up for a free trial of Fishbowl to see all of the ways it can benefit your bar in addition to the ones mentioned above.
Pubs, bars, and other establishments that serve alcohol can use inventory management software to keep track of their glasses, barstools, and other assets in multiple locations and sub-locations. They can also use it to make sure they have the right inventory balance and gain access to detailed product information with the scan of a barcode. Talk about raising the bar.