Are you struggling to gain complete visibility and control over your restaurant or bar’s inventory?
Restaurant and bar inventory management is a crucial aspect of improving the profit margins of the items on your menu. Inventory management gives you insightful data - such as food costs, PAR levels for better ordering, shrinkage amount and pour cost - that help you improve the profitability of your business.
Yet so many bars and restaurants are still using spreadsheets to manage their inventory.
Spreadsheets are simply ineffective when it comes to food and beverage inventory management. They lead to human error, wasted time, inaccurate data and no real insight into inventory KPIs.
The result? Your bar or restaurant has no real visibility or control over how it’s inventory is performing. So, how exactly do you know which items are your most profitable and where your business may be losing money?
To help change that, Sculpture Hospitality has created a brand-new inventory management dashboard that gives restaurant and bar owners complete visibility into how their business is currently performing and how they can improve moving forward - all in one place.
What is the Sculpture Hospitality restaurant and bar inventory management dashboard?
Based on accurate counts and weighings of your bar or restaurant’s food and beverage inventory, The Sculpture Hospitality Dashboard provides your business with insightful and actionable reports that help you maximize profitability.
Accessible on a computer or smart device through your web browser, The Sculpture Hospitality Dashboard displays data in easy-to-read graphs and charts, showing your company’s purchases, sales, variance (product shrinkage) and inventory.
By using this data, your restaurant or bar will have complete visibility into how its performing and control over where you can make improvements that significantly improve your revenue.
How does the innovative beverage and food inventory management dashboard work?
The Sculpture Hospitality Dashboard features five user-friendly tabs, which when clicked lead to five separate pages of business insights focused on; an overview of your business, variance, inventory, purchases and sales.
Here’s how each of these sections fives your restaurant a bar a complete snapshot of how you are performing in your most critical operations:
Business overview
A complete snapshot of your entire business performance. This section includes insights into your historical revenue, historical purchases, used inventory cost, on-hand inventory and much more.
Variance
Based on theoretical inventory usage compared with actual inventory usage, the variance tab gives your business insight into where you are losing money through missing inventory. This is a crucial KPI when it comes to improving your inventory processes and driving up profit margins.
Inventory
Your bar or restaurant inventory is your investment into profitable growth. Your inventory is an asset, and how you manage it significantly impacts how profitable your business is. The Sculpture Hospitality Dashboard gives you complete visibility into your inventory, including how much inventory you have on hand, how much deadstock you have, the cost of your used inventory and the speed in which stock is moving off your shelves.
Purchases
Comparing purchases data to previous accounting periods, The Sculpture Hospitality Dashboard gives you insights into what inventory you have purchased with each vendor, how much you have purchased by class, the price fluctuating of purchased products over time and what your ideal purchase amount is for each product (based on your PAR level).
Sales
Gain a complete understanding of your company’s revenue for each accounting period, ideal cost of goods sold (COGS), gross margin, as well as your bar or restaurant’s best and worst revenue generators.
Are you interested in more information on how The Sculpture Hospitality Dashboard can help your bar or restaurant use analytics to make smarter inventory decisions that boost your profitability? Get in touch with our team of inventory management specialists today. We would love to help your business improve its profit margins.