Increasing Profitability With Beverage Stocktaking
Oct 07 2019
The economy today while better than previous years is still turbulent and indeed it affects businesses worldwide and here in Ireland. Pubs, restaurants, clubs, bars, hotels and nightclubs are some of the businesses who are affected by the economic trends. There are many reasons why there is an increase in the number of businesses that are winding up. Inefficient controlling and monitoring of your stocks can be one of the biggest reasons. So, it is a must that businesses who are most engaged in the industry of beverage service to do bar stocktaking.
What is Beverage Stocktaking?
It is a big challenge for businesses nowadays to keep pace with the hiteches that the world brings. Stocktaking is basically a process in which stocks are counted, weighed and measured at a particular time. Beverage stocktaking follows the same process but is specific to beverages only.
The usual beverage stocktaking process requires long hours of counting, bundles of stock lists, collating figures and possible re-checks if results turned unsatisfactory. This is certainly a waste of time for the business and inconvenience for the employees and clients. But the advancement of technology and experts provide solution for more efficient bar stocktaking. Bar stocktaking today is still complicated but can be easier and effective if you figure out the best way to use the most of it. You might encounter several write-ups about bar stocktaking in the paper or online. These can make you realize the importance of beverage stocktaking in the continuous operation of your business. Beverage stocktaking can provide you numerous benefits that surely you can’t ignore.
The Benefits of Beverage Stocktaking:
1. Verify the accuracy of stock records. You might not be aware of the discrepancies happening around which can bring your business down. Doing bar stocktaking can help you overcome inconsistencies from the actual stocks to your records. Bar stocktaking includes accurately checking of your stocks and recording it then comparing the sales and actual stocks after a week, month or year.
2. Discloses the possibility of theft, fraud and loss. The trading activities and profits of your business can be greatly affected by any theft or fraud activities. Thus efficiently monitoring your business stocks through bar stocktaking can promote profitability because of its abilities to detect frauds and anomalies.
3. Ensuring that sales and purchases are accurately accounted. Bar stocktaking will let you know the difference of your actual sales and purchases compared to those stated in your accounts or records. Doing this can ensure that you are receiving the profit you deserve rather than not knowing that your business is going down.
4. Strengthen any weakness for custody and stock control. You can develop an efficient method or improve any existing means of controlling your stock. The discrepancies or weaknesses you’ve known through bar stocktaking can be strengthen or corrected.
5. Promote profitability and continuous business operations. The advanced methods of bar stocktaking will not let your business operations to be interrupted while the process is going on. The losses that results from fraud and theft can be put back into cash through efficient bar stocktaking.
Beverage stocktaking is actually gaining increase in the number of demands for businesses because of its proven benefits and advantages. So if you want to belong to the reams of wisest business owners then you have to make sure you already avail bar stocktaking services.
If you would like to learn more about how a professional stocktaking service can benefit your business then visit Synergy Stocktaking at http://www.synergystocktaking.ie now.