Food Inventory Spreadsheet
Food Inventory is a very important process in discovering how much is missing in merchandise/revenue in your restaurant or bar.
Most, if not all corporate ran restaurant conduct inventories. There are many independently owned restaurants that do not conduct inventories. If you do not conduct inventories in your business, there is a very high chance that you are losing hundreds if not thousands of dollars in missing inventory.
You will never know because you don’t conduct inventories in your restaurant. The sad fact is every restaurant loses money in missing inventory; the question is how much money you are losing.
Missing food could be due to poor inventory management, chances are your employees stole it. Seventy-five percent of all inventory shortages are due to employee theft, unless restaurant owners take appropriate steps in reducing missing inventory. Ultimately, high food cost percentages will affect your business and may cause the doors to close permanently.
Where do these losses come from?
- Poor inventory management
- Employee/customer theft
- Improperly trained employees
- Portion control
- Out dated menu prices
There is a solution, conduct regular inventories. You will never know how much money or product is missing until you conduct inventories. Start by doing monthly inventories, if you are sitting on a 28 to 30% food cost percentage, than you are doing well.
Fast food restaurants can achieve a food cost percentage as low as 25% Causal sit down restaurant will be in the range between 28 to 35%. Upscale restaurants that have high ticket menu items will see 35% or more.
Workplace Wizards have created a food inventory spreadsheet system. If you have a POS system in your restaurant, chances are it can do food inventories. You will need to enter in all the product information into the POS system and you should be good to go.
If you do not have a POS system the food inventory spreadsheet system is for you. This system is easy to use, enter the product information and print out the food inventory count sheet.
I have included a vendor log; record all deliveries as they arrive at the restaurant into the vendor logo.
Many more bonuses and surprises! I have created a video tutorial on how to use the food inventory spreadsheet.
Food & Paper Inventory Tutorial
Food Inventory Spreadsheet System