We are often asked by those new to the catering and hospitality sector what a food stocktake or food stock audit will actually achieve, so we though we would put this blog together to show restaurant, pub & hotel owners just how useful a good food stocktake can be for a business.
A good food stocktaker will give you a useful report that can be reconciled against revenue and purchases. During your food stock audit you will find that the following actions will be undertaken by your professional food stocktaker.
- Your GP% will be checked against your budgeted GP%
- Your stock holding will be compared against your sales level to ensure that you are not holding too much stock and tying up money which could be better used else where in your business.
- Your stock list will be looked at and any large or unusual variances will be investigated.
- Whilst counting your stock your stocktaker will randomly check Use By and Sell By Dates and report anything they find that does not conform to Food Hygiene Regulations.
- Where appropriate your stocktaker can also carry out cash checks and reconciliations with takings and banking records to ensure that the correct amount of money is in the right place.
The data from those actions will then be collated into the Food Stocktake Report so that you can clearly see an oversight of your stock in terms of yield, margins and GP. This will then allow you as the restaurant, pub, or hotel manager/owner to analyse where you make your most profit and also where there is any potential revenue loss and the key factors contributing to this lost revenue. Your stocktake will also discuss with you any areas of concern and ways to improve the performance of your business.
If you understand the importance of a consistent and through food stocktake for your business and see it as an essential tool for your hospitality business then please contact us directly to arrange a meeting or your food stocktake.