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.