Inventory



Polygon Financial Cloud 

Inventory

You can’t manage what you can’t see – that is the principle at the heart of good inventory management. Many hospitality venues have loss and wastage that they are not even aware of, because they have limited visibility of their inventory, their ordering and their recipe management. They may be holding too much stock, risking spoil and waste, or they may have the opposite issue and run out of essential items at the busiest times. They may not be aware of which items are low sellers, which generate the best profit and which recipes offer the best cost/profit ratio.

A sophisticated, automated and integrated inventory system addresses all these issues, helping hospitality businesses from bars to cafes to restaurants, from single venues to multi-site franchises, manage their stock, recipes, purchasing and inventory management processes more efficiently. It integrates with POS, Accounting and Supplier Management to avoid the double handling of manual data entry for efficiency and accuracy. 

Polygon Inventory, part of the Polygon Financial Cloud, does just that. It helps hospitality businesses to reduce wastage and automatically maintain optimum stock levels. It calculates inventory levels and values, automatically reorders, manages recipe creation and costing, identifies low selling items, supports multiple profit/cost centres, allows stock-take and gross profit reporting.  
  • A cost-effective inventory management tool which, fully integrated with Polygon POS and Polygon Accounting 
  • Identifies wastage and losses 
  • When prices change, automatically updates the inventory items file so that average costs remain updated at all times 
  • Enables viewing of the entire stock file or the active and inactive inventory items independently 
  • Can operate in multi-departmental mode for inventory control across a multiple individual profit/ cost centres 
  • Item, recipe, and function costings worked out in INC GST, EX GST and cost percentage, for accurate quoting and management.

Automatic Calculation of Inventory Levels and Values 

  • Individual unit and recipe items sold are included in the Z-Read figure and once committed, automatically reduce the inventory balance 
  • Inventory purchases as entered on supplier invoices automatically increase the inventory balance 
  • The resultant ledger transactions are automatically created to amend the asset and cost figures for Balance Sheet and Profit & Loss reports 
  • Removes double handling by tracking suppliers and inventory all in the one package

Perpetual Inventory Control

  • Maintains a record of inventory levels of individual inventory items which can be reviewed at any time 
  • Calculates the value of inventory on hand using the average cost method for each inventory item

Modified Perpetual Inventory Control

  • Allows users to identify at any given time what quantities of inventory should be on hand without the effort involved in full perpetual inventory control
  • Tracks only inventory quantities and leaves the ledger transactions in a non-perpetual mode where all purchases are posted directly to cost, and any variances are corrected when a closing stock take is entered

Stocktake

  • Facilitates the recording of inventory levels 
  • Makes the entire process quick, easy and accurate 
  • Supports the use of fully integrated portable data entry (PDE) devices 
  • Enables the quick identification of variances between inventory records and the quantity recorded 
  • Enables adjustment of costs and stock records to agree with the stock take count 
  • Can be done on an entire business, departmental or individual line item basis

Automatic Purchase Order Generation 

  • Provides reporting to identify when a stock item reaches its PAR level 
  • Provides a stock re-order report based on client determined pre-set PAR levels 
  • Generates recommended purchase orders (based on existing inventory levels and preferred suppliers) which can be modified and sent to suppliers 
  • Speeds up entry of supplier invoices by utilising the corresponding purchase orders 

Recipe Creation and Costing

  • Record new, existing and batch recipes including any instructional notes 
  • Create recipe cards to ensure continuity and consistency of dishes irrespective of staff turnover 
  • Cost individual menu items based on each recipe’s edible portion size and wastage and providing return per portion or by specifying the required profit margin

Function Costing

  • Quickly and accurately cost and quote functions 
  • The system provides sale price per head, cost per head, return per head and the total return for the function, as well as calculating the stock requirements 
  • Incorporate and save notes such as contact details, timing and table layout

Multi-Departmental Operation

  • Additional departments are created in the General Ledger and then applied throughout the system 
  • Specific stock items are allocated to those departments and stock transfers between departments are recorded 
  • Speed and flexibility are provided through an export facility which may be applied to a whole department, a selected stock type or an individual stock item 
  • Each POS terminal can be assigned to separate departments for accurate stock balances and P+L reporting from a multi-departmental stock holding 
REQUEST A CONSULTATION
Request a consultation, or ring us on 1300 4 REDCAT, to explore how Redcat Polygon can help your business.

Payroll

Polygon Payroll helps you manage all employee administration and payroll tasks, including employee details; payroll processing; integration with POS time clock; timesheets; multi-department working; pay rates; payments and pay-slips; rates; allowances, deductions and tax; annual leave...
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Accounting

The last thing you need to add to a busy day running your hospitality business is having to manually enter financial, inventory and revenue data. Not only is it time consuming, but open to human error, which perpetuates throughout the system and can be very hard to detect and correct...
READ MORE

Inventory

You can’t manage what you can’t see – that is the principle at the heart of good inventory management. Many hospitality venues have loss and wastage that they are not even aware of, because they have limited visibility of their inventory, their ordering and their recipe management...
READ MORE
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Telephone 1300 4 REDCAT (1300 473 322)
Point of Sale Systems. Hospitality Software. Accounting and Business Management Solutions.
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