What are your best tips for taking inventory of your food stock?

1 Use a standard system

One of the first steps to take inventory of your food stock is to use a standard system that is consistent and easy to follow. This means having a clear inventory list that categorizes your food items by type, location, unit, and cost. You can use a spreadsheet, an app, or a software program to create and update your inventory list. Make sure that you use the same units of measurement and the same order of items every time you take inventory.

2 Count everything

Another tip to take inventory of your food stock is to count everything, even the smallest and most insignificant items. Don't rely on estimates, guesses, or assumptions. Count every item in your storage areas, refrigerators, freezers, and prep stations. Use scales, measuring cups, or other tools to weigh or measure your items accurately. Record the quantities and the dates of your inventory on your inventory list.

3 Organize your storage

A third tip to take inventory of your food stock is to organize your storage areas so that they are neat, clean, and easy to access. This will help you save time and avoid mistakes when taking inventory. Arrange your food items by category, by expiration date, and by frequency of use. Label everything clearly and use the first-in, first-out (FIFO) method to rotate your stock. Discard any spoiled, damaged, or expired items.

4 Schedule your inventory

A fourth tip to take inventory of your food stock is to schedule your inventory regularly and stick to it. Depending on the size and type of your operation, you may need to take inventory daily, weekly, monthly, or quarterly. Choose a time that is convenient and quiet, such as before or after service hours. Assign a team of staff members to help you with the inventory and train them on how to use the inventory system.

5 Compare and analyze

A fifth tip to take inventory of your food stock is to compare and analyze your inventory results with your sales records, your purchase orders, and your budget. This will help you identify any discrepancies, losses, or inefficiencies in your food cost management. You can use formulas, ratios, or reports to calculate your food cost percentage, your inventory turnover, and your variance. You can also use your inventory data to plan your menus, your orders, and your specials.

6 Review and improve

A sixth and final tip to take inventory of your food stock is to review and improve your inventory process regularly. Look for ways to simplify, streamline, and automate your inventory system. Seek feedback from your staff, your suppliers, and your customers. Monitor your food cost performance and set realistic goals and benchmarks. Implement corrective actions and best practices to improve your food cost control and analysis.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?