More and More Restaurants and Bars are using outside auditors to help control their inventory cost!
Are you considering using outside auditors to help you control your restaurant's inventory? Here are a few reasons as to why it's a great idea!
The average restaurant has a profit margin of 3%-5%.
Restaurants that fail to account for their inventory properly can lose as much as 8% of their inventory without knowing it. These losses result in more spending to replace the items and a higher cost percentage that eats at our bottom line.
Restaurant Inventory Padding can become a costly problem!
Inventory padding is a term that relates to overstating your on-hand inventory value in order to hide problems. This typically happens when a restaurant employee wants to hide a problem to avoid being blamed or making it appear as if they are not doing their job. For example, if the restaurant employee counted 4 bottles of liquor on the shelf but reported there were 5 bottles of liquor on the shelf, the employee would have padded the numbers with 1 bottle. This is a hidden problem that has a tendency to accumulate week over week, month over month until 1 bottle becomes dozens or even hundreds of lost bottles. Padding is a problem that oftentimes isn't discovered for several months or even longer.
Checks and Balances is just a smart business practice -
Regardless of your restaurant size, it's always a great idea to have a system of checks and balances and having outside inventory auditors is the exact definition of checks and balances.
Our Auditing Reports can quickly help you increase your bottom line!
The effects of bringing in an outside auditor can be seen almost immediately. Sometimes sales will spike, other times spending will be reduced but mostly it will be a combination of both. In addition, the independent inventory report can quickly expose any problems.
HOW IT WORKS
Skrible currently offers competitive rates for our restaurant inventory counting services (in select cities only). Audits are available weekly, bi-weekly, monthly, quarterly, or on-demand and can include both food and alcohol.
Team Skrible uses its proprietary software to perform the count. The Skrible software retains your recipes, connects to various POS systems and auto uploads your vendor invoices so we always know exactly what you should have on-hand during any given day of the week.
Skrible inventory counts are all performed using scales for improved accuracy and no guesswork. In addition, we take photos of our inventory count so there's no disputing the numbers.
Upon the completion of our count, each restaurant will receive a detailed shrinkage report which highlights variances and each shrinkage report will also receive a performance score that ranges from 0-100.
For more information and a detailed quote, please contact us or schedule a demo.