Automation is the key to running a more efficient business and self-ordering software for restaurant inventory management should be considered in that equation. Running out of a single inventory product could cripple the ability to sell multiple menu items.
Similarly, to-go boxes are critical to fulfilling online orders in any restaurant business. Any restaurant that runs out of to-go containers under COVID-19-restricted operations will suffer an immediate sales loss.
How does a manager prevent running out of any one of the hundreds of items needed to complete orders? How do managers make reordering on time worry free? These are the four general requirements to have for the best self-ordering software for restaurants.
- Has software support for restaurants that have multiple store locations.
- Ability to integrate with a POS system.
- Has a secure, fast data connection.
- Contains integrated business reporting features.
The best self-ordering software for restaurants helps you to do away with the stacks of inventory checklists and migrate to a faster, more detailed data-driven system that will integrate with your POS system.
Key Areas the Best Self-Ordering Software for Restaurants Benefits
These are the top four areas in which modern self-ordering solutions greatly benefit restaurant owners:
1. Food Cost and Profit Management
Within food cost and profit management, there are two distinct areas that see the most improvement:
Ingredient-level tracking
Every plate and drink has an associated cost and amount. With ingredient-level tracking, you can begin to measure all the ingredients needed for each item on your menu. POS software allows you to upload dry and liquid inventory using multiple measurement systems. You can also measure how well your employees follow ingredient measurement guidelines, taking into account a customary built-in margin-of-error.
Menu-level costing
Menu-level costing has a similar function as ingredient-level tracking but for all items on the menu list. Menu-level costing allows you to proportion the restaurant cost on each menu item. By costing each menu item, you can set prices and monitor profit margins for each item sold. You can even begin to plan food promotions that servers can then offer to patrons as an upsell for added profit.
The data from ingredient-level tracking and menu-level costing together generates a new source of business intelligence. Adding or removing just one side item on a popular dish can dramatically change the profit margin on a meal and boost sales.
2. Food Waste
One of the top manager complaints and sources of profit loss for restaurants and bars is food waste. Food waste usually occurs in four ways:
- Poor proportioning
- Spillage
- Order inaccuracy
- Spoilage
Small food and beverage losses may not seem like much during rush hour, but if problems persist, they can really cause significant losses. Begin tracking the volume and number of products that come in and what is sold as part of a sales order. Your POS software can then track food waste by comparing the expected and actual cost of goods sold (COGS).
3. Vendor Order Management
Within vendor order management, there are three distinct areas that benefit the most from the best self-ordering software for restaurants:
Low-inventory alerts
Have you ever been selling so much that you forget to reorder stock? You no longer have to worry about keeping track of what you have left in the stockroom once you set up automated alerts to your phone. You can monitor inventory levels 24 hours per day on cloud-based POS systems. Who knew a POS terminal could be this smart? With the best self-ordering software for restaurants that allows you to maximize inventory right on your POS system, it is as easy as a few taps on your phone.
Vendor management
Large restaurant supply chain companies are not always the best solutions for every restaurant. Local restaurants, specifically those that specialize in locally-sourced food, may buy goods from ten different farms. When you rely on a variety of companies to supply the food and produce you need for your restaurant, it can be easy to lose track of what needs to be ordered next. Not to mention that some suppliers require relatively long lead times. POS software can be a great solution for small supplier vendor management.
Purchase orders (POs) and accounts payable
You can generate and send POs right from your POS terminal. You can also track important details regarding accounts payable and shipping terms for each supplier. Cloud-based POS software allows you to monitor inventory items from multiple terminals at multiple locations. The best self-ordering software for restaurants has the tools you need to migrate to a perpetual inventory management system.
4. Maximize Stockroom Efficiency
No one wants to walk into a disorganized stock room. Plus, it costs you and your employees valuable time away from the front when you have to search through a stock room. Now, you can better organize your stockroom from your POS system. The best self-ordering software for restaurants has powerful features which interconnect all the different facets of the restaurant business through display menus that are easy to navigate.
Finding an Inventory POS Leader
You may wonder where to begin on your search for the best self-ordering software for restaurants that maximizes inventory.
Talech specializes in end-to-end solutions that greatly help restaurants and bars better manage their inventory. With our solutions, you’ll see an immediately positive impact on inventory management, which will in turn improve sales on the front-end and long-term profits on the shipments that enter the door.
When you partner with talech for your restaurant inventory management needs, we ensure that you’re getting the best self-ordering software for restaurants. With our advanced solutions, you’ll be able to streamline key processes and maximize profits.
