Gaining control: Inventory management
THIRD-PARTY AUDITS: BEVINCO
There are several different systems out there, from dispensing systems to different inventory software, the main issue with these systems is that they are internally managed and tracked, so in most cases you have the same individuals serving the inventory as you’re tracking the inventory the results.
Bevinco operates differently than other types of inventory control because they are a third-party service. Auditors visit an establishment at a time not known to staff and conducts a complete audit on all liquor, wine and beer and compares what was actually used that period to what was sold. They provide variance reports on the results, identifying losses by brand and ounce.
In addition to inventory control, the company emphasizes profit management and revenue enhancement, looking at mark-up items and identifying dead stock.
This type of system requires full support of all managers. In order to effectively run a complete audit, they require bar sales and purchasing information from the owner or manager.
As for staff, the company hosts bartender meetings and discusses topics such as best practices on pouring techniques.
Currently, the company services nightclubs, bars, fine and casual restaurants, pubs, bowling alleys and hotels. The cost depends on the size of the bar but the average cost is $200 per audit.
Typically, Bevinco clients experience four times the return on their investment and reduce losses to within five per cent.