- Saves time
- Reduces aggravation
- Improves the accuracy of results
Most of the other liquor inventory options at the trade show fell into one of two categories:
- Do-it-yourself systems
- Real-time tracking systems
Each of these options has some flaws which prevent bar owners from getting the most out of the service and maximizing their profitability.
With the do-it-yourself systems, bar owners buy all the software and hardware, and then run everything themselves. Unfortunately, implementing these systems can be difficult. Measuring what is missing from the bar is an entirely different and unique skill set compared with the other tasks performed at a bar. It is a skill many people struggle with, especially when performing the task alone. There are two complicated aspects to the process:
- You need to know what was delivered in order to accurately determine how much product was used. Accounting for what was delivered is laborious and dull, and it often doesn’t get done.
- You need to use your POS report to determine precisely what was sold. This data analysis can be difficult and complicated, especially if you do not have someone on staff with strong number-crunching skills.
As a result, after investing a considerable sum of money in one these liquor inventory systems, you may still have trouble determining what products were missing (your shrinkage). Unfortunately, the implementation of many do-it-yourself systems makes them difficult to achieve the ultimate goal of a lower liquor cost and more profitable bar. In Part 2 of this blog series, we will discuss the benefits and pitfalls of using real-time tracking systems. If you are interested in learning more about how we can help you maximize the profitability of your bar, please contact Bar-i today to schedule your free consultation.