We'll run you through the basics of bar inventory apps, why you need one, and how to choose the best one for your business.
What Is a Bar Inventory App?
A bar inventory app lets you control and manage your bar's inventory on your phone, tablet, or computer. These apps take a lot of the hard work out of inventory taking and variance calculating. They help automate and elevate your business.
Most bar inventory apps share many of the same features. These include the ability to access your inventory count on multiple devices, calculate usage, view historical data and trends, and automatic invoicing and ordering from wholesalers.
5 Reasons You Need a Liquor Inventory App
Using a liquor inventory app brings your business into the 21st century and lets you make smarter decisions.
Here are five reasons to invest in restaurant technology and purchase a liquor inventory app.
- Save time. Manually taking inventory requires setting aside hours to go through your bottles. You'll even have to do it twice a month to get an accurate count and understand usage. A bar inventory app will update as you use up inventory and sell drinks. You don't have to spend hours manually updating a liquor inventory sheet.
- Cut costs. Taking inventory manually involves paying employees to waste time counting product. You won't have to spend that money since the app does the counting for you. You also avoid wasting money on things like excess inventory.
- Limit errors. People make mistakes. Computers only make mistakes when people do. We're sure you can see the benefit of using an app here. No more miscounts or forgotten products. Accuracy is key when taking inventory, and bar inventory apps are a great way to ensure your numbers are correct. Otherwise you'll learn the 86 meaning pretty quickly.
- Get pricing insight. Inventory and sales data give you the information you need to determine optimal prices and determine your best-selling products. That also helps with implementing ABC inventory analysis. The historical data and trends stored in a bar inventory app puts that right at your fingertips whenever you want. Use this data for some drink menu engineering and watch your profits soar.
- See inventory in real-time. Manually taking inventory leaves you in the dark for a few weeks to a month. If you aren't actively counting, you don't really know your actual inventory levels. Bar inventory apps do. If they're integrated into the bar pos system, you will have an accurate count 24/7 based on a perpetual inventory system. Imagine the quick decision-making you can have with that information. You'll never be confused about par level again.
How Bar Inventory Software Makes Your Business More Profitable
Bar inventory software does more than just automate your inventory tracking, it provides you the tools you need to make more money.
Are you charging the right amount for wine by the glass or have an appropriate wine bottle price? Do you know how to price beer? What are your best performing menu items? How much shrinkage do you have in the bar? What about the best way to track draft beer inventory? If you don't know the answer to these questions, you're probably missing out on some money. Bar inventory software gives you insight into these questions and more. Once you know the answers, you can react appropriately to cut costs and maximize profits.
How to Choose the Best Bar Inventory Software
There are many bar inventory apps on the market and it can be overwhelming trying to find the right one for your business. Most apps are fairly similar, but here are some tips on finding the one for you.
- Don't go for the cheapest option. We know it can be tough choosing to spend money when margins are tight, but you really do get what you pay for. Pay attention to what the app offers and what you need. You don't want to go with a cheap option only to find it doesn't do what you need and have to invest in a better plan later.
- Go for one with integrated ordering. All the apps on the market will give you insight into inventory levels, but not all offer ordering. Integrated ordering will make it so you can see you have low stock and immediately order more. This cuts out the extra time and effort of reaching out to suppliers and lets you spend your time making more money.
- Look for the plan that matches your business. Many apps offer tiered plans from basic to pro. If your business has three employees, you probably don't need to go for the pro plan. Look at what you need and what you can afford, and find the plan that fits.
- If you use a POS, try to find one that works with it. Tracking inventory with an app is made even more valuable when it's tied into your POS. This will ensure you always have access to the most accurate inventory numbers and help you make the right decisions on the fly.
Modernize Your Inventory Taking
Now that you understand bar inventory apps, you can determine if you should invest in one for your business. We certainly think it's worth the cost. That's why BinWise has its own app to help automate your inventory. It provides the information you need to take your business to the next level. Don't leave money on the table when you don't have to. You'll also cut costs, so you can focus on finding how to increase restaurant sales.