If you run out of tortillas in your home kitchen, you can easily shift from burritos to taco salad, head to the market, or give up and order pizza. But in the restaurant business, the phrase, “I’m sorry, but we’re out of…” can come with heftier consequences, including cranky waitstaff and surly customers.
What if you could take the guesswork out of inventory tracking and reordering? An mPOS system allows you to do just that. You’ll get an accurate count of what you have and what you need, and you’ll be better able to keep speciality items in stock so staff can easily upsell.
Here’s more on how mPOS can balance inventory with demand:
According to Entrepreneur.com, companies can increase profitability by 50% or more with careful inventory management. An mPOS system provides that kind of management. It’s an immediate, accurate picture of what’s selling and what’s not, allowing on-the-fly adjustments and ordering. When a customer pays, their items go off the inventory list right away. This helps reduce waste and over-ordering, and (hopefully) means staff and happier customers.
It’s important to make sure inventory isn’t walking out the door. According to the National Restaurant Association, employee theft is responsible for 75% of inventory shortages. Use your mPOS to give employees an easy way to report losses or mistakes as they happen. Less honest staff will also know that you’re keeping a close eye on inventory, and may be more wary of stealing—studies have shown that most people hold their actions to a higher standard when they think someone is looking.
A broken plate, a stack of napkins lost to the breeze, or a server taking home a box of hot dogs for the roommate’s barbecue all impact your bottom line. Using mPOS to track and report losses makes it easier to run a tight ship.
Get better reports
Good records of what customers order is like gold in the vault, so pay attention. If your mPOS shows that more customers than anticipated gobbled down the Death by Chocolate dessert, definitely stock up when the supplier offers a deal on chocolate. On the other hand, if the crab soup special lags, you might order fewer of those pricey ingredients, or prompt staff to push it more.
With accurate, easy-to-read inventory reports from your mPOS, you can make informed decisions about discounting or shelving menu items. And a good mPOS system like Instore can track sales and alert you if numbers are not jiving, so you can investigate without waiting for weekly or monthly tallies.
So don’t worry about having to go for the nuclear option and order pizza for the whole restaurant. Real-time inventory tracking through mPOS translates into immediate, informed decision-making. You’ll get a firmer grip on inventory. And you’ll save time, money, and stress. Pizza optional.
Photo copyright: star5112 by CC BY 2.0