Unavu POS helps you with strict control on raw material procurement at correct rates, issuing in the right quantity at the right time. It keeps to check and constant on food costing and improves quality. The software also creates production for sold item and raw material based on the sold items. The food costing report is based on the real-time sales and stock journal entries.
Store and Inventory
Are you still using paper and sheet, issue notes or Excel to manage your inventory? Manual record keeping makes it difficult to maintain records (e.g. used items and out of stock) and corruption (e.g. suppliers billing or quality at higher prices). This eats up a major role in the operating funds and directly affects profits and guest services.
Unavu Application comes with inventory control system for procurement, purchasing, storing,production with stock verification. It comes with an effective store control that prevents malpractice and corruption. It also supports stock take and keeps a strong check with inventory reports to enhance checks and balances.
Procurement and Purchasing
An operating restaurant needs to store many items with different computation patterns, minimum order quantity and supplier. This makes it difficult to maintain a good inventory position and at the same time do not run out of stock position.
The Unavu software module automatically lists out the items that need to be procured with re-order quantity based on consumption during a specified period and predefined supply lead-time. It ensures that receipt of the quality of goods and also specified in the purchase orders. It helps you to maintain the record damaged goods and existing goods, in-delivery and out-delivery of goods-all backed by a robust audit system to ensure the compliance with the business policy.
The purchase module instantly show the history details about last purchase details and you can able to fills last prices by entrée.. It enables you to classify each purchase and tracking and monitor good and bad suppliers. It also helps to create masters records when you are adding new products. You can even define rate contracts or price lists for supplies.
Stock-In and Stock-Out Balances
Stock-in and Stock-out wills helps to detect and discourage malpractice in store management. Storage existing with many items on a daily basis, a full stock in one go is not practical. Unavu Software helps to record the stock of items based on random warehouse, group, bin, etc. It also simplifies the periodical stock-in and stock-out and recording of the inventory count. The physical stock check is reconciled with the inventory records and helps to handle such a missing stock. It also allows to make the necessary correction with automatic adjustment for excess or Storage
UnavuApp stock and inventory management module helps you keep a tight control on the stock, and works to prevent wastage and theft.
Integrated Purchasing and Receiving
Manage the overall circulation of food, where the food is prepared at the base kitchen, and then sent to the other outlets.
Multi Store Management
Raw Material Management
Analytics and Reports
Generates Profit and Loss (PnL) reports based on stock sale/purchase and consumption.
You can optimize your restaurant operations based on the reports.
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Inefficient inventory management can ruin your business. Be aware that we’re all prone to making costly mistakes that can spell the end for your business. Even Nike wasn’t immune. In early 2000s, lack of inventory control led to the loss of, hold your breath, approximately $100 million in sales.
Fortunately, they were able to bounce back by using a better inventory management system.If it can happen to one of the biggest companies in the world, it can happen to you too.
We’ve rounded up the top 5 inventory management mistakes businesses make and the possible solutions:
Failure To Accurately Forecast Demand
Nike’s problem stemmed from inaccurate forecast demand. Its software had bugs and errors and produced erroneous forecast, which they used for their manufacturing plan. As a result, they didn’t have enough products their customers wanted and overproduced on items that were not sold.
Inventory management systems, first and foremost, must be free from bugs and data errors. Demand forecasts are critical to producing the right number of items and if the calculations are off, you’re in trouble. The answer is very simple: invest in an inventory tracking software that provides accurate data, like UnavuApp.
Lack Of Automation
If you’re still tracking inventory with Excel, then you could be losing money. Manual tracking takes too much time and won’t get you results. You’re wasting resources and that keeps you from focusing your energy on other areas that can help grow your business.
Sterling Lighting, a company that specializes in LED light bulbs and outdoor lighting applications, saved a lot of money by using a cloud based inventory management software that helped them automate tasks. They were able to cut down on unnecessary labor costs and subsequently were able to spend more time focusing on growth.
For most companies who are still using software that’s installed on local computers, issues are common because not everyone knows how to use it properly. When there’s so much to do and only one person who’s familiar with the system, you can get left behind in orders. Lack of proper training can severely affect your ability to keep up with orders.
Cloud-based inventory management systems are beneficial in so many ways:
They have easier learning curves and it shouldn’t take long to train employees properly.
Easy access even for those who travel a lot.
No need to have separate people process orders, check stock, or track inventory. NZ-based jeweler Nick Von K found inventory management very annoying and unproductive because it divided his team’s time between administrative tasks and stock management but by using an online inventory management tool, they were able to streamline their operations and focus on expanding the business.
Inefficient System Implemented Inside The Warehouses
It’s not uncommon for warehouse managers to fail in finding more efficient ways to handle business. Simply rearranging goods so they’re easily taken out for shipment can save you thousands of dollars. Often times, employees take too much time going through the facility, looking for an item. Always remember that wasted time is money lost.
A simple solution is to figure out which items sell more and place them near the shipping area so they can easily get sent out. Sales reports should give you a good idea which items to put close to the door. Additionally, don’t randomly put stuff where there’s available space. Allot a specific area for each product based on popularity so they can be easily retrieved.
Less Frequent Inventory Checks
Many companies cease operations for a day to check inventory. This can result to profit loss. It’s worse for huge businesses that have so much inventory; they can end up profitless for weeks.
This is an outdated method and one that’s not productive at all. You’re better off scheduling more frequent regular inventory checks to keep the company from shutting down operations and missing out on sales.
Using an online inventory management system will eliminate the need for this. A reliable system, like UnavuApp, will keep you updated on the status of your inventory in real-time.
Inventory management can be tedious but using a streamlined process, preferably one with a reliable tool, will greatly reduce mistakes and improve operations which can lead to more sales.
From big businesses to small, you might have noticed that more and more business have now turned their focus towards an overall customer satisfaction rather than just product / service delivery. Even more so for restaurants, it has become more about creating a ‘memorable customer experience” rather than simply serving a good dish.
Although every restaurant owner has a large variety of potential customers they can choose from and caters their business too, the business strengthening goal forever remains to raise the restaurant’s number of loyal customers. In fact, the challenge lies in retaining and converting the best customers into loyal ones who will visit you often. Therefore the right loyalty program can help you encourage and motivate the customers who are already likely to visit you again.
How to Build an Efficient Loyalty Program?
The loyalty program is not a new concept in the hospitality business, however, it is important to have a program that suited to your restaurant and your customers. Here are few points that will help you instill a loyalty program that will help you effectively drive sales and convert your customers into loyal ones.
1. Easy SignUp
This is the first and the most crucial aspect of any loyalty program – make it easy. Making your customer go through series of steps to sign up will discourage participation and will demand a lot of effort from the customer’s end. The idea is to make the entire sign up process more appealing, extremely user-friendly and very simple so that your patrons can participate without thinking twice.
For example: Using their phone number or by automatically enrolling them when they check out. Keep the joining process simple and in less than 3 steps.
2. Incentive for Customers
What’s in it for the customer? – This is a very important question a business owner should be able to answer. There has to be some gratification and value that customers get out of it, discounts and gifts are some of the easiest ways to reward the customers. However, a more customized approach is always recommended, so you must evaluate, what is it that your customers really value? Is it just discounts? Or a complimentary tasting session? And then create a value-focused rewards program that best suits your audience.
3. Keep in Touch
It is important that you create a loyalty program that revolves around constant communication with the client. Staying in touch and updating your most loyal customers about the latest updates helps you stay on their mind and given them a gentle reminder they need to think of you next time they want to eat out. Although just sending out emails is not enough , sending out quality content that your customers are more likely to engage with is also crucial.
For example: Instead of sending out emails only about your discounts, switch things up and send them a secret recipe of a dip you serve at your restaurant or a sneak peek of the seasonal menu you are about to introduce.
4. Be Friendly
Just like the sign-up process, keep your program simple and easy to understand, don’t complicate it. Be flexible and make it easy for your customers to collect points, claim reward offers and transfer points. You can also take it a notch up and help them integrate their other loyalty points as well, especially from your competitors that will help you get insights how your customers are engaging with their product.
5. No Hard Work
Don’t make it mandatory for your customer to carry a loyalty card or a punch card. You must aim to make the entire experience as easy as possible for the customers, not harder. So ensure that their program identity is easily accessible through their phone number or email.
6. Seek Feedback
Listen to your customers and pay attention to what they want. Now this is where you use the loyalty program to your advantage and learn what your best customers like and dislike about your restaurant. A truly effective loyalty program should help you understand more about your customers and their preferences. While you should cater to your customers choice to what peeks their interest in your restaurant and the loyalty program, you should also frequently give them an option of filling out surveys and giving feedback in return for loyalty points. This helps build a great pool of insights that not only helps you learn about your customer experience but also about what they seek from a loyalty program like yours.
For example : In order to learn which gratification motivates your audience base the most, as part of one of your reward offers allow your customers to pick what they would like to win with a certain number of points. This is will help you get useful data on what really motivates your customers and make necessary revisions to your loyalty program.
7. Make them feel special
This how you build a strong emotional connect with your audience. Mark their birthday and anniversary with a special offer just for them.
In conclusion, a simple, open and user-friendly loyalty program will help you earn the customer interest you are hoping for, so use it to understand your audience and build a program around their wants mixed seamlessly with the theme of your restaurant. In the sea of many restaurants don’t forget to stand out and make your patrons experience unique in any way possible because they might forget the way your food tastes but they will not forget how you made them feel.
Inventory consists of all the items or raw materials required to prepare dishes in the restaurant, and inventory management system helps you track each ingredient used in the dish. Inventory management systems integrated with the restaurant POS allows you to control and organize each and every aspect of the stock, maintains a smooth flow of supply and also helps you boost your overall profit. As the volume of business grows in a restaurant, inventory management becomes a important part of restaurant operations.
• Daily stock consumption report generated
• Provides up to date reports of item (available, not available, over stock, under stock)
• Track of material demand, re-order level and closing stock of F&B
• Tracks moving stock items inward / outward, material wastage, procurement and expiry dates
• Track of material consumption and its automatic updation into inventory
• Recipe management in Point- Of-Sale software is a very helpful tool in our system which track material as well as items that are over in the kitchen
Here are the essentials of inventory management that you should practice
Monitoring the stock:
You must always remember to organize your existing stock before bringing in a fresh stock. Unavu POS inventory management software gives you the available stock count at the beginning of the day, and the stock closing at the end of the day. It calculates the balance stock automatically, and tallies it with the available physical stock.
Raw material management:
Managing the inventory smartly is essential to avoid wastage. Use these points to make sure that your stock is efficiently used.
• Try to adopt minimal stocking approach for your restaurant inventory, especially in case of the perishables.
• Try to use seasonal products. With smart menu engineering, you can use them for a season’s special. This way, you’ll be able to attract customers with something new, and also avoid wastage of perishables.
• Unavu POS prompts you to reorder when you run out of supplies. You can set a re-order level for each of your items. As soon as the ingredient reaches that level, a reminder mail will be sent to you to re-order that ingredient in advance. This prevents the embarrassing situation of running out of supplies during operation hours. This is especially helpful in case of popular items and perishable items that need to be restocked frequently. Also, ordering only when required helps avoid wastage.
• Make sure that items are being used on a First in First out (FIFO) basis. That is, use the older stock first. Only when the previous stock has been used up, use the newly purchased items to prevent wastage.
Recipe management and costing:
Standardization and management of recipe is essential for proper inventory management as it helps in curbing food costs. In a standard recipe, the quantity for each ingredient to be used is specified; therefore the inventory management system can easily judge the number of days the remaining stock will last. Random use of ingredients leads to an imbalance in the stock and causes the stock to dry up before time.
You can also get an estimate of how much preparing a dish would cost you by the help of recipe costing feature. You just have to feed in the recipe along with the portion of each ingredient, and the inventory management system gives you the food cost for that dish. This further helps you decide the selling price of that product. Ideally, the food cost should be 30% of the menu price or selling price.
Reporting and analytics
Reporting and analytic is another important feature of inventory management that helps in restaurant operations. The sales reports and the raw material usage helps forecast and create future plans. Profit and loss reports are generated depending on the stock sale and consumption. This feature further helps you to-
• Analyze inventory trends– You can analyze the inventory trends to make informed decisions such as deciding the menu. Detailed reports based on the consumption of each stock gives insights on which ingredient is the most popular, and needs to be utilized more in the recipes.
• Keep a track of stock and maintain accuracy– An accurate list of the available supplies helps you keep track of the daily and weekly usage