What is restaurant stock management software ?
You need restaurant stock management software to be able to keep track of your inventory, profits, and customer loyalty. From menu planning and order taking to store management and customer service, this software helps you keep your business running smoothly. However, there are different types of software for restaurants and food companies that require specialized features. Here is a guide on how to choose the best type of software for your needs.
5 Best Restaurant Stock Management Software Solutions
What is a restaurant stock management software?
Stock is the backbone of any business, and when it comes to a restaurant handling inventory can be quite challenging. Courtesy- Tonnes of perishable goods and the wide variety it uses to prepare food beverages. Restaurant inventory management software can serve as the right hand of the restaurant owners.
From tracking stock levels of different ingredients to managing food costs of menu items and vendor management, a restaurant management system can do it all. Yet, they are user-friendly.
Since most of the restaurant management software is cloud-based these days, restaurant owners can access them from multi-location via mobile app.
Why should you use a restaurant stock management software?
In one line we would say Simply because it can halve down your workload. Let's see how-
1. Inventory track- In a business like a restaurant industry, that uses a variety of ingredients, it becomes difficult to manually keep track of the raw material. Restaurant inventory software tracks stock levels in real-time and show stock count at the beginning and end of the day. This helps restaurant owners and managers to know if they are short on any ingredient used in the menu item so that timely purchase orders can be placed. Similarly, it acts as an alert for the chefs to use inventory judiciously till the new stock arrives.
2. Reduce food waste- Real-time inventory tracking informs restaurant owners of the updated stock levels. This way they know how much stock of what product is in there and what is falling short. As a result, the restaurant managers can place better purchase orders, reducing wastage.
3. Cost Saving- Food costs can directly impact your pricing. Lesser the waste, reasonable prices of menu items can be set. The inventory management system can aid your bottom line.
4. Integration- Integrate your software with the other to see the magic. Integration doubles the efficiency of the software. For instance, when the inventory system is integrated with accounting software, it automatically updates the stock levels in the accounts. This saves a lot of time during taxation.
5. Multi locations- In the case of a quick-service restaurant, which usually has multiple outlets across the city or state, a centralized restaurant inventory software can keep track of stock requirements and stock consumption of each outlet. It can even generate purchase orders for every single outlet. These features help in in-depth financial reporting.
6. Sales and purchase software leads to efficient order management and vendor management.
Managing inventory can be a hassle.
You need to keep track of your inventory, but it’s hard to know what you need and what you don’t.
The top five best restaurant stock management software solutions?
To manage restaurant is not an easy task. Apart from several helping hands, it requires smart technical support too. Following are the top five best restaurant management systems that can make restaurant owners' lives easier-
Inventory management software
- Be it a full dine-in or a quick-service restaurant, all commercial kitchens require inventory software.
- With better inventory control, restaurant owners can place much-informed purchase orders. Restaurant inventory management system leads to better order management.
- Inventory systems help restaurant owners not only track food inventory, but when it is integrated with restaurant pos ( point sale system), it can generate detailed reports on the most sold items, stock consumed, the stock needed. It helps in menu engineering and other managerial decisions.
- As everything is automated in a restaurant inventory management system, it promises higher accuracy. The data is more credible as compared to a manual inventory tracking process, which has a wider scope of errors.
Sales and purchasing management software
- More and more quick-service restaurants and fine dining are switching to sales and purchase management software as it helps them to manage both suppliers orders and customers' orders.
- Apart from real-time inventory tracking, it helps in recording customer history, maintaining invoices
- Customer data and their order history enable restaurant owners to cater to customer needs, enhancing customer service.
- Since most of the work is automated, it reduces the scope of error.
Managing restaurant stock can be difficult.
You’re going to have to keep track of your inventory and sales, but how?
Customer service software
- The customer management systems extend coordination and communication of small businesses or management with the customers across email and chat boxes.
- It helps restaurant owners, management and small business understand customer choices and requirements. Consequently, improving sales.
- Similarly, with customers' needs known, the management can serve them better, strengthening the customer service
- It helps in keeping track of loyal customers and reminds managers to present them with gift cards or points as a reward for loyalty.
Accounting management software
- Accounting management software has become a need of the growing small business. It helps to prepare financial reports, send invoices to customers and manage payrolls.
- With accounting management software, you can generate financial statements cash flow, P&L statements in a single click. This not only minimizes the scope of errors but also saves restaurant owners from hassle during the tax season.
- When accounting management software is integrated with a restaurant inventory system, it automatically updates the stock levels with every purchase and sale.
- It automatically syncs data from bank accounts, online ordering, third party, and payroll services, preventing manual entry to maintain records.
Marketing automation software
- Marketing has gained significant ground as social media continues to grow as a platform. To make sure customers remember your brand in this distracting internet era, constant interaction has become a must.
- So small businesses use marketing automation software that takes care of repetitive tasks like email marketing, posting on social media at regular time intervals.
- The marketing automation software keeps track of your potential customers' actions on social media and serves it as research data. This information helps small business or restaurant owners know what their prospects might be looking for, enabling them to formulate personalized ads.
Conclusion To Restaurant Stock Management Software
- From real-time inventory tracking to facilitating updated accounts, enhanced customer service, and more personalized ads to interact with customers, the above-mentioned five restaurant Management Software that can help quick-service restaurants and fine dine-ins in smooth planning and reach new heights.
- Identify your restaurant's needs and budget and pick the restaurant software that can complement your business.
- Make sure the interface is user-friendly and the Restaurant Management system has a mobile app to keep track of multi-location.
Managing your restaurant stock management software can be a challenge.
Every time you open the app, it's hard to know whether or not you're going to find what you need.