Why Your Restaurant Inventory Management System Matters
• Intro • Restaurant Inventory Management • Testing Solutions • About Nom • Best Software
In today's fast-paced and highly competitive restaurant industry, managing inventory is crucial for success. Whether you're running a small café or a large chain of restaurants, inventory management is a vital part of the operations. Statistics show that proper inventory tracking can lead to a 24% annual profit increase, which is impressive in that simply managing inventory effectively can help increase profits. As such, inventory management software can help restaurants streamline their processes and improve their bottom line.
Not only do inventory management workflows help with increasing profit margins, but they also help reduce food waste and ensure that your menu is always up-to-date. Inventory management software can help ameliorate supply chain difficulties as well - recent data revealed that the average supply chain accuracy is only 63%.
In this article, we discuss the importance of proper restaurant inventory management and the best software solutions for your business.
Inventory management systems are a critical component of running an organized restaurant. Photo on Unsplash
What Is Restaurant Inventory Management? Why Is It Important?
Inventory management is essentially the process of keeping track of all your ingredients and products. Owning a restaurant is not an easy task, and managing ingredients is one of the most important things to do. Having a messy inventory can lead to poor restocks, issues with menu availability, and more.
When done well, restaurant inventory management can bring many benefits. One of the most important benefits of using inventory management software is that it allows restaurants to track and manage their inventory in real-time. This means that they can always have the right amount of stock on hand, reducing waste and ensuring that they have enough ingredients to meet customer demand. With this software, restaurants can easily track inventory levels, monitor usage and waste, and adjust purchasing accordingly. This helps them reduce food costs and improve profitability.
Another benefit of using inventory management software is that it can assist with menu planning and forecasting. By keeping track of what ingredients are used in which dishes and how often, restaurants can plan for busy periods and make sure they have the necessary ingredients on hand. This helps to reduce the risk of running out of stock and disappointing customers.
In addition, inventory management software can also help restaurants with inventory control, by providing detailed reports on inventory movement, such as inventory turnover rate, Gross profit Margin, and Gross profit Margin Rate. These reports are essential to measure the performance of the restaurant, and it allows the restaurant to make informed decisions on inventory.
Inventory management software also provides an easy way to track inventory costs, which is important for accounting and budgeting purposes. With this software, restaurants can easily generate detailed reports on costs, including purchase prices, vendor details, and shipping costs, which makes it easy to compare prices and find the best deals.
Top Inventory Management Software Solutions
In the next section, we share the top 7 restaurant inventory management tools most restaurant owners use.
Our selection process included analyzing key features, ease-of-use, and limitations of the software. The following apps are used worldwide by small, midsize, and large-scale businesses according to their budget, staff, and inventory size.
We took into account the following categories:
Price
Difficulty of use
Operating system compatibility
Features offered
Each food inventory management app is perfect for a specific task, which we included as well.
About Nom Menu
Nom Menu helps restaurants design and present their menus in a unique and attractive way. With the goal of promoting their dishes, retaining loyal customers, and increasing dish sales, restaurant managers have made Nom Menu their go-to product.
The Nom Menu platform features both a visually immersive digital menu for guests to enjoy, as well as an intuitive backend menu management tool for operators to use.
While this article underscores the importance of inventory management, effective menu management is the first step to keeping an organized inventory.
Solutions like Nom Menu allow for easy drafting, editing, 86’ing, and storage functions, all doable in real time during a busy service rush.
The platform effectively doubles as an archival tool and draft board for chefs and managers, massively streamlining operations. As such, a solution like Nom Menu remains a precursor to inventory management tools discussed below.
Take a look at our website for more information and schedule a demo to get started.
Streamline your restaurant's inventory management with easy-to-use software. Say goodbye to manual counting and hello to real-time tracking.
Best Restaurant Inventory Management Software
1. Revel Systems
Revel Systems is a high-quality restaurant inventory management software that offers unique solutions. Features like inventory tracking with location and reorder alerts are present, and the software works both on desktop and mobile devices.
Revel Systems provides owners with advanced inventory tracking, theft prevention, and management tools. The inventory management app includes 24/7 customer support, tutorials, and guides.
As for the price, it is expensive compared with others, with a $674 onboarding fee for the inventory app. The company also requires a minimum three-year contract for operating.
If you’re looking for an all-inclusive restaurant inventory software, Revel can do the job.
2. Upserve by Lightspeed
Upserve is perfect for small and midsize bars and restaurants. It offers quality and advanced inventory tools that help with tracking, organizing, and more.
What’s great about this food inventory management app are its impeccable features, which include color-coded status alerts for tracking vendor orders and recipe prices.
Pricing plans are affordable and billed monthly. This makes the restaurant inventory software an excellent option for small businesses.
Customer service support is available 24/7, all year round, and they have phone help as well as in-app chat. The software is compatible with desktop and mobile iOS and Android devices.
3. MarketMan
MarketMan is a restaurant inventory software designed for large-scale businesses that have multiple locations.
MarketMan stands apart from other food inventory apps, as it can help with supplier logistics on top of inventory tracking.
What’s great about MarketMan is that it features incredible inventory tools. Some include automated cost updates for supplies and personalized order alerts.
This inventory management software allows operators to upload their suppliers’ receipts and automatically update their inventory.
MarketMan has a $200 setup fee and can be used with desktop and mobile iOS and Android devices.
4. Restaurant365
Restaurant365 is an all-in-one food inventory management app. You can expect advanced tools like recipe price tracking and inventory tracking.
It also features easy-to-use supplier ordering based on your sales and inventory. You can easily scan receipts and let the software update your inventory.
This restaurant inventory management app features staff scheduling, hiring and labor cost tracking, and is priced at $400 per month.
Restaurants with desktop and iOS and Android devices can use this inventory management software.
5. CrunchTime
CrunchTime is great for visionary owners planning on opening many locations.
The software includes detailed inventory tracking, cost controls, and automated ordering tools. It also has functionality to support food prep processes, recipe data and creation, and more.
They offer various customer support channels and the price is per quote. A downside of CrunchTime is that it only works alongside seven mobile apps specific to it.
This restaurant inventory management software is available for desktop and iOS and Android devices.
6. Craftable
Craftable is the go-to option for hospitality and bar owners looking to keep close track of their inventory.
Some tools included are recipe price tracking, inventory tracking, pour calculations, and more. It also allows unlimited users in all plans.
The software sends cost updates from vendors and automates the ordering process. The available features depend on the plan you choose.
Support is available on working days and from 7 am to 7 pm. Restaurants and bars with desktop and iOS and Android devices can use Craftable.
7. Orca
Orca provides restaurants with detailed inventory tracking and helps with recipe costs. It allows owners to visualize the cost of a recipe as they create it.
This food management software has tools for budget ordering, process tracking, and sales. Vendor integrations are present and can help save time.
The restaurant inventory management app provides phone support on working days and hours. It is ideal for restaurants with several locations and those who have desktop and iOS devices.
