Hospitality Industry Stocktakes in Sydney
Hospitality Industry Stocktakes for Licensed Venues
Associated Stocktaking has a dedicated experienced liquor team which specialises in the hospitality industry. Liquor venues have specific requirements – and we can deliver on all fronts.
Our stocktaking processes ensure a level of accuracy unparalleled in the industry. Our liquor stocktake managers bring working knowledge of all industry standard Point of Sale systems, and expertise dealing with barcoding issues, product recipes, and variance reports.
The result is an ability to deliver results whatever issues a particular venue may have, allowing the venues management to keep on top of their stock levels and identify ‘shrinkage’.
What is shrinkage?
Shrinkage is basically the difference between actual and recorded inventory. Stock may ‘disappear’ due to various reasons such as evaporation, over-pouring, short deliveries, damage, theft and other related reasons.
In the hospitality industry, statistics show that lack of proper stocktaking systems can lead to inventory losses of between 10% to 20%. This figures are significantly lower in retail businesses.
Other statistics show that nearly 50% of shrinkage is linked to theft while nearly 80% is linked to business employees.
Why Accurate Hospitality Stocktaking Matters
Shrinkage is the difference between recorded stock & actual stock on hand. In hospitality venues, this can affect liquor margins, kitchen costs, supplier records, financial reporting & day-to-day stock control.
Accurate hospitality stocktaking helps businesses:
- Identify missing stock & unexplained variances
- Compare actual stock against POS stock file records
- Improve liquor, bar & kitchen stock control
- Review supplier deliveries, invoices & stock transfers
- Reduce shrinkage, wastage & stock recording errors
- Support better purchasing & ordering decisions
- Strengthen internal stocktaking procedures
- Improve reporting for owners, managers & accountants
Sydney Hospitality Stocktaking Services
Our hospitality stocktaking services include:
- Liquor stocktaking
- Bar stocktakes
- Pub stocktaking
- Bottle shop stocktaking
- Restaurant stocktakes
- Café stocktakes
- Hotel stocktaking
- Kitchen stock counts
- POS stock file checks
- Variance reporting
- Baseline inventory counts
- Follow-up stocktakes
- Regular stock control support
Hospitality Industry Stocktakes in Sydney
If you wish to discuss any issues your venue may have regarding stocktakes or in the integrity of the data in your stock file we would be delighted to answer your questions and offer our services if they can be part of the solution.