How to Manage Bar Inventory System in 2021
Do you want to know How to Manage Bar Inventory System? if you don’t know then do check out this post to know more. If you want to run a profitable bar, you must remain consistent with the bar inventory management.
A successful bar manager always takes into account bar management by hiring the right distributors and keeping a full record of everything on the bar management spreadsheet.
The most important thing is to train all of your employees so they will help in making the customers happy.
Along with maintaining the overall atmosphere of cooperation and collaboration, try to inculcate time management and accounting skills in your team members as well.
Let’s start from scratch and see how you can achieve bar management goals.
Step by Step Method for How to Manage Bar Inventory System
1. What Is Bar Inventory?
2. How To Do Bar Inventory Management Perfectly?
3. Bar Inventory Management Is A Two-Step Process
4. Bar Inventory Management Is Not Hard!
What Is Bar Inventory?
It includes all the crucial metrics that are necessary to run a successful bar. For example, counting all the inventory twice, making the bar inventory spreadsheet to keep the record of everything, and overall inventory usage.
Do not forget to count everything twice and take the help of your assistant so you will never go wrong with the estimates.
But before getting started with anything, you should have a clear idea of bar inventory system basics. It is good to add everything in the bar inventory spreadsheet, so let’s have a look.
- Estimate the level of overall financial stability of your bar, and introduce modern inventory according to your budget.
- Check out the overall par level of each product
- Figure out your pour cost and devise ways to continuously reduce it
- Make the list of in-demand products and enhance their quantity in your bar.
How To Do Bar Inventory Management Perfectly?
Before proceeding to the inventory calculator and usage, you should learn how to start with the bar inventory system management.
Consider these few tips:
- Go through the deep counting process and consider every single bit of your bar. Whatever your method of counting is, do not forget to count everything.
- Check out the sizes and types of all the liquor bottles that you have. You can set aside the bottles of each size to make the process easier.
- Use the rule of 10 to figure out how much liquid is left in each bottle. It will make it easy for you to figure out how many tenths are left of each bottle. You can separately keep bottles according to the left liquor as well.
- Complete the front portion of the bar and then move to the back portion. Also, check all the storage rooms, cellars, corners, and refrigerators
Now fill out your bar inventory spreadsheet according to the data collected in the list.
This brings up the question:
How often should I calculate the inventory and update the bar inventory spreadsheet?
Thrice in a month, or every two weeks.
So there is no hard and fast rule. It entirely depends on the influx of orders that tell how often you need to manage the bar inventory spreadsheet.
Bar Inventory System Management Is A Two-Step Process
Bar inventory management needs your extra attention. So, when you count your stuff for the first time, it is called the beginning inventory.
And when you count each and everything again, it is called ending inventory.
- Starting inventory helps you to keep a record of all the details at the beginning of the month or the time when you are measuring.
- Final or ending inventory is the final count that includes the overall usage from a certain time period as well.
The comparison of both kinds of inventories will help you to finalize the data on the bar inventory spreadsheet.
The final and the mega-important step is to figure out and calculate the inventory usage of each type of liquor.
Not sure how to do this?
Here is the simple formula to make the bar inventory management process easier:
Inventory Usage (Bottles) = Starting Inventory + Inventory Received – Ending Inventory
Note: If you are a bar manager, you should not be handling each and everything on your own. So, train your staff members on estimating the overall inventory and visualizing the tenth part of each bottle.
Bar Inventory System Management Is Not Hard!
When it comes to bar inventory management, being consistent is the key. Take the help of your employers and double-check everything on your own as well.
Believe me, bar management is not too hard. But doing it at the right time and with accuracy can be difficult. So be careful, and take your bar to the next level by rightly done bar management.
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