Inventory reports help you monitor inventory usage and waste and make it easier to optimize its usage to achieve reduced costs and higher profitability. Compare ideal to actual inventory usage, track recipe waste, and break down recipe cost for an accurate, real-time overview of your inventory.
Key Features
Food Cost
Get food cost information including the ideal and actual usage of foods, their variance, and waste to discover what's profitable and what you might need more/less of. For instance, you know that on April 1st you had on hand Blue Cheese worth of $20, you received $15 from your vendor, and by the end of the month you had on hand Blue Cheese worth of $32. For the same month, your Blue Cheese waste was $0.86 and had an excessive variance of $1.24. This alerts you to possible mishandling or waste you should look into. You can check food cost by department or prepared item.
Recipe Cost & Profitability
A medium Margarita costs $3.46 to make. You are selling it for $6.99. That's 49.5% profit for every Margarita you sell. Apart from knowing how much a Margarita costs, you also get a breakdown of its base ingredients' cost too; its dough is $0.35, its pizza sauce $0.28 and so on. Knowing the cost and profit of every menu item, helps you have a better idea of what's profitable, and then make adjustments to increase profit through food and vendor changes, and price fine-tuning.
Ideal Usage
This detailed report tells you exactly how much it costs to include an item, say bacon, in any item on your menu. For instance, you can tell that the average cost for adding bacon in one Large Meat Supremo pizza is $1.50. Is that profitable? Can you increase profit by reducing it to $1.40 and not compromising its quality? Can you get bacon from a vendor that sells it for less? Ideal usage helps you make informed decisions over your menu pricing to optimize profits.
Inventory Counts
Every inventory count that you conduct is in this comprehensive report. Learn the count date, expected and actual stock, and the variance for every item in your inventory. For counts completed with Inventory IQ, you additionally know when a count started and ended and its total duration.
In-depth Item Report
This extra detailed report lets you know at a glance who and when last counted or received inventory, say, Mozzarella, what was the expected and the actual stock and more. It's an essential report that helps you better monitor both, your inventory and your inventory handlers.
Menu Profitability
A thriving, healthy business needs real-time sales and profitability reports. With the Product Mix Profitability report you know at a glance about your most popular and profitable menu offerings, products that are popular but not profitable, products that are profitable but not popular, and products that are neither the one nor the other. A must-have business insight that lets you fine tune your menu to maximize its profitability.
Par Level Optimization
Optimizing your on-hand inventory levels is essential for avoiding spoilage and stockout. The Par Level Optimization report helps you set laser-focused par levels based on previous weeks' usage. For instance, you know that on average for the last 12 weeks, you consumed 1.1 cases of lemons and your par level is set to 2. This means by reducing your par level, say, to 1.5, you will avoid spoilage. You have three options, to optimize your par levels based on actual item usage, ideal usage, or item purchases for a specified past period.
