Article | June 23, 2017

Add Inventory Management To Your "To Do List"

Source: Hubworks

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When it comes to task management for your small to mid-sized business, don’t get so focused on sales that you neglect to add inventory monitoring and analysis to your “to do list.” Fail to acknowledge the value of this kind of protocol in a restaurant, for example, and you can wind up spending your hard-earned profit on food that spoils and winds up in the dumpster, not on the plate. The same is true for bar owners. Slack inventory management can leave your bottles dry when business peaks, or can have you paying for the wrong brands and categories that only gather dust on the shelf. Worse still, if bar inventory becomes too unmanageable; you could run afoul of state alcohol regulations and wind up in legal trouble. Businesses with alcohol licenses typically have to account for every bottle of booze they sell – and if they cannot keep track of their liquor inventory, they may fail an audit.