Proper handling of inventory is particularly crucial among food and beverage companies. Restaurants, for example, need to sell their perishable food items quickly before they spoil, which poses an added challenge.
To overcome this, warehouse inventory software keeps track of the food that comes in from suppliers and monitors whether it’s being used or spoiled. Without it, businesses can run into serious issues that cost them time and money.
As a practice, inventory management helps companies determine how much of their staples they need to order and when. Inventory management is particularly tricky in the food and beverage industry, especially since spoilage presents an added hurdle.
A lot of old-school businesses may still use traditional inventory management methods, like manual counting and spreadsheets. However, these methods pose risks of human error and can be time-consuming. In contrast, warehouse inventory software takes all the guesswork out of inventory tracking, by providing an up-to-date record of stock levels.
In a food and beverage service business, the term “inventory” encompasses all the physical items used to serve customers, such as:
- Food ingredients
- Dry goods
- Spices and seasonings
- Liquor and beverages
- Cooking equipment
- Tablecloths, napkins, etc.
- Staff uniforms
Why efficient inventory management can be a superpower
Overall, warehouse inventory software helps to streamline product tracking, storage, and retrieval across all storage facilities. With warehouse inventory software, for instance, you can closely monitor stock levels and order only what is necessary.
This saves money and reduces the risk of running out of ingredients or selling expired products. Additionally, it helps you manage shelf-life and expiration dates more efficiently to reduce waste.
Among the key benefits of using warehouse inventory software in the food and beverage industry is reducing food waste, given that a staggering 40% of food is wasted because of spoilage. In restaurants alone, up to 10% of food purchased goes to waste even before it reaches the customer.
Many restaurants buy too much food, which can often lead to ingredients spoiling in storage. Proper inventory management can significantly reduce food waste, translating to fresher food served to customers and massive cost savings for businesses.
Another benefit of inventory management software is batch traceability, which is particularly critical for food businesses. This is because the Food and Drug Administration (FDA) requires food and beverage distributors to be able to track their products in case a recall is needed.
Additionally, warehouse inventory software increases overall visibility and control of one’s inventory. This is a huge benefit, because it can reduce stock errors and lost items and improve workflows in general.
Warehouse inventory software also provides businesses clarity with regard to their operations through real-time data. This helps food business owners make smarter decisions to maximize profits and minimize losses, because of food spoilage or inadequate stock levels.
Automating inventory procedures also frees up time for warehouse staff to focus on more critical tasks. Without the need to manually complete tedious inventory tasks, businesses can also scale much faster and focus on improving customer experience.
