Stocktaking is the process of recording and counting the value and amounts of stock held by a business. One of the advantages of Food & Beverage Stocktaking is the ability to monitor the changing costs of all the food items and making an updated report which states the charged old price and the new price that is being charged. The changes in the cost price are a very important part of the business report.

In using food and beverage stocktaking, all the beverage and food items are weighed and scanned to ensure a stock count that is accurate. Staffs perform stocktake once a day. In stocktaking, you will be able to have product reports or summary report. In stocktaking, staffs are equipped with electronic scales and barcode scanners to provide the highest accuracy. Stocktake is done earlier in order to avoid disturbance of the staffs. After the completion of the counts, you will proceed with paper works that contain the sales waste, purchases and many more.

All stocktakes are accomplished in just one day and most of the time on premises. It is needed depending on the problems that appeared after the initial stocktake. The norm is monthly or within two weeks. However, there are clients who have below the average sales performing their stocktakes weekly. The cost of it depends on the number of products, number of products, location and many more.
How do you stocktake?

There are many reasons for stocktaking. You should know what you need to value and count. It indicates the amount which is tied up in the stock and it serves as an assessment of the levels of your stock to gain more cash from your business. It assists you in replacing and ordering fresh stock. Therefore, you are valuing and counting all the stock items. In a beverage and food business, there are beverage, food and packaging, but it does not include furniture and crockery. It is a good idea to have a complete stock take, value and count everything in the business. It will minimize wastage in your stock items which are already expired or have been damaged because of poor storage. This simply supplies you with information about the gross margin and the performance of your business.

Establish Recording System

Every system of stocktaking needs hard work and focus. There are many systems of stock taking in the market such as software programmes or Excel sheets. You can create a simple system of stocktaking in your business through the following steps:

Step 1. Create a list of stock lines connected to how you run your business and through a language that will be understood by everyone. List it in an alphabetical order. One example of this is in a restaurant you have. List chilled goods, dried goods, beverages, frozen goods, packaging and cleaning materials.

Step 2. Make a spreadsheet and provide units for each stock item. You need to provide a unit for your stock items and be persistent in using measurements.