Managing stock in a busy pub can be a challenge, and losses can add up quickly and affect your bottom line. Keeping track of where and why stock is going missing is key to maintaining profitability.
That’s where a professional stocktaker comes in. They’ll pinpoint the root causes of your inventory issues and work with you to implement strategies that address them, helping ensure your pub operates smoothly and stays profitable.
Reduces inventory loss
Inventory loss, whether from overpouring, spillage or theft, can significantly impact your business’s gross profit. Common sources of loss in pubs usually come from poor stock control and mismanagement, so to keep things running smoothly, it’s important to regularly check for any areas where inventory loss could be happening.
Enlisting the expertise of a professional stocktaker helps pinpoint the root causes of inventory issues, allowing you to develop effective strategies to tackle them. This proactive approach reduces unnecessary losses, which is vital in the competitive hospitality industry where margins are tight.
Streamlines processes
A common misconception is that pub owners spend most of their time just pulling pints, but that’s far from the reality. In truth, they often manage everything from marketing and social media to finances and staff coordination.
Streamlining your operations is therefore a must. Stocktakers can relieve you of a significant portion of your lengthy to-do list, handling tasks that would otherwise fall to you. This means that counting all of your stock, reviewing purchase information and analysing sales figures will be a thing of the past, allowing you to focus on the less tedious tasks of the job.
Enhances forecasting and planning
Unpredictable cash flow, financial instability and missed growth opportunities are just a few common consequences of not championing forecasting and planning. If you want to take your business to the next level, both must be an ongoing priority.
Accurate stock records give you a clear picture of trends and seasonal demand, making it easier to forecast what you’ll need. This helps businesses make smarter purchasing decisions, ensuring you don’t end up with too much stock or outdated products that aren’t selling.
Optimises team performance
Behind the bar, the main cause of shrinkage is human error, whether that be from overpouring, spillage, serving mistakes or write-offs. Your staff free pouring instead of using a measure doesn’t seem like it would affect your profits in a significant way, but a 10% overpour on a 25ml shot can quickly add up to thousands of pounds in wasted stock over the course of a year. This is why proper staff training is strongly advised when it comes to minimising waste.
Professional stocktakers can ensure that all staff are trained correctly, making them aware of the financial impact of small mistakes. By offering detailed training on using precise measures, reducing spillage and understanding stock rotation, stocktakers help staff develop habits that lead to more accurate inventory management.
How we can help
At G W Cox, we come directly to you and take the hassle out of stock management, saving you time and effort. We’ll help you pinpoint areas where stock loss is happening, whether it’s due to human error or inefficiencies, freeing you up to focus on other aspects of your business.
We provide expert insights that ultimately help you reduce waste, control costs and improve your overall profitability with minimal disruption to your daily operations, because we know how valuable your time is.
Want to find out more about our stocktaking service? Contact us today.
