Food and Beverage Inventory Software: 13 Uses and Benefits

Does your business serve food and drinks? If so, food and beverage inventory software is vital if you want to maximize revenue. You see, there are many perks that coincide with using restaurant inventory solutions. Some professionals enjoy the ability to schedule future orders with the click of a button. Others invest in food and beverage inventory software to have access to a wholesale directory. Regardless of what prompts you to onboard such a tool, it’ll likely make your life as a business owner or manager a lot easier.

What Is Food and Beverage Inventory Software?

Food and beverage inventory software is a cloud-based solution that lets you track inventory levels. This kind of tool takes the guesswork out of inventory management processes. As a result, it allows F&B leaders to do more with less.

In traditional settings, staff members must conduct inventory management processes manually. But thanks to hospitality software, you can now automate such tasks. From tracking ingredient quantities to updating spreadsheets, the right software can simplify inventory management as a whole. With a product designed with bars and eateries in mind, tracking inventory can become a breeze

8 Sectors That Utilize Food and Beverage Inventory Management

The hospitality industry could not thrive without food and beverage inventory software. After all, food and drinks are the primary product offerings across the hospitality landscape. However, there are more sub-sectors that drastically benefit from streamlining food and beverage inventory control. See below for eight industries that regularly utilize these kinds of tech solutions:

1. Casual and upscale restaurants
2. Coffee shops and cafes
3. Hotels, motels, and resorts
4. Reception and banquet halls
5. Country clubs and golf courses
6. Schools and universities
7. Cruise lines and yacht companies
8. Hospitals and other medical facilities

When you stop to think about the number of business ventures that serve food and drinks, this list could probably go on forever. However, the industry sectors above should paint a clear picture as to who benefits from food and beverage inventory software the most.

5 Benefits of Using Food and Beverage Inventory Systems

Inventory management in food and beverage industry sectors is essential for long-term profitability. Read on for five major benefits of using food and beverage inventory control software:

1. User-Friendly Platforms: Learning how to calculate formulas like average inventory and the inventory turnover ratio can be difficult. However, software can ensure ease and accuracy by doing the calculations for you.
2. Reduce Food Spoilage: When you’re able to order exactly what you need when you need it, you don’t purchase excessive amounts of food and drinks. As a result, you don’t waste as much.
3. Reporting and Analytics: Food and beverage inventory software can simplify inventory audit protocols. Plus, relevant records will be stored in “the cloud” for easy access.
4. Seamless Integrations: One of the best features of food and beverage inventory software is its integration with a POS system. As orders roll in, stock levels will automatically update.
5. Scheduled Reorder Point: When running a food service business, you’ll find that you run out of certain ingredients at different times. You can schedule different shipments on an appropriate timeline with food and beverage inventory control software.

Frequently Asked Questions About Food and Beverage Inventory Software

Would you like to expand you knowledge and skill set regarding food and beverage inventory software? If so, you’re in the right place! Check out our FAQ section below for additional details.

Which Are the Best Food and Beverage Inventory Software Providers?

The best food and beverage inventory software providers are companies like BinWise and other alternatives, such as BinWise. If you need a software for food, soft drinks, and supplies only, BlueCart is a great option currently leading the market. 

Do I Need Food and Beverage Inventory Software?

Yes, you need to invest in food and beverage inventory software if you want to minimize the daily workload and optimize cost savings efforts. If not, you may be unaware of what’s decreasing or boosting costs.

How Often Should I Take Restaurant Inventory?

If you run a busy establishment, it’s ideal to take inventory daily. If not, weekly inventory tracking should be fine.

What Will Food and Beverage Inventory Software Help Me With?

A food and beverage inventory software will help you with the following:

• Reduce manual labor
• Decrease inventory costs
• Identify best-sellers 
• Distinguish cost drivers 
• Place repurchase orders with ease

Which is Better, BevSpot or BinWise?

If you’re deciding between BevSpot and BinWise, the better one of the two will depend on your needs. However, we can assure you that BinWise clients, both small and massive, are very successful with our platform.

Ready to Onboard Food and Beverage Inventory Software?

Streamlining your beverage inventory management processes is just a couple of conversations away. Book a demo with us to learn more!