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Inventory Management Best Practices for Restaurants

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Accomplished entrepreneur Bill Asher has an MBA from the University of South California. The founder of Lucid Entertainment, Bill Asher manages several restaurants and is involved in their inventory practices.

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Inventory Management Best Practices for Restaurants

  1. 1. INVENTORY MANAGEMEN T BEST PRACTICES FOR RESTAURANTS BillAsher
  2. 2. Introduction ■ Accomplished entrepreneur BillAsher has an MBA from the University of South California.The founder of Lucid Entertainment, BillAsher manages several restaurants and is involved in their inventory practices. Restaurant inventory management facilitates efficiency in the ordering process while reducing the instances of food waste and theft. Here’s how to do it well. -Train two members of your staff to be solely in charge of recording and tracking inventory.This promotes accuracy and accountability. -Schedule regular manual stock-taking at the close of business hours. Do this even if a Point of Sale system has been set up that updates itself
  3. 3. Inventory Management ■ for losses such as spoilage. Perishables should be checked daily, while non-perishables can be checked weekly. -When new stock arrives, perform a quality check to spot defects in time and order replacements. Do not mix new stock with old. Ideally, you want food items that came in first to be used first (first- in-first-out).This minimizes holding costs, reduces spoilage, and makes accounting easier. -Finally, always factor in waste and/or loss.Whenever a customer returns a plate, a waiter spills a drink, or food goes bad, record it. Putting a dollar figure on waste ensures that you and your staff are aware of its impact.

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