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Hotel inventory management–from hotel restaurant management to the management of front of house staff and back of house staff –is a comprehensive process. A hotel and hospitality industry inventory management system has many moving parts. Those moving parts rely on each other for smooth business operation.
For hotel staff–from the owner to the food and beverage director to the banquet manager–hotel inventory management is a daily practice. It keeps everything moving with operational efficiency.
There is also, however, a part of hotel inventory management that is separate from keeping track of consumable items. That is the inventory of rooms in the hotel. The rooms a hotel has available is inventory that must consistently be accounted for, as well as marketed for and planned out in advance.
Hotel Inventory Management Software
A hotel can benefit from inventory software similarly to other customer service and hospitality businesses. Hotels have to keep track of stock and be prepared for guest requests, which requires knowing exactly how much of a particular good is on hand.
One side of inventory software is order management software with BlueCart. BlueCart gives you access to every tool you’ll need to stay ahead of orders and keep guests satisfied. BlueCart gives you every inventory tracking system you need in the palm of your hand, whether you’re sourcing linens, paper goods, or other wholesale supplies (see: what is wholesale).
Another side of hotel inventory is related to keeping beverage inventory in check. That way, you never have to worry about providing drinks for everyone passing through the hotel restaurant, bar, or poolside lounge.
BinWise–specifically BinWise Pro–paired with BinScan for mobile ease of use, can help you get there. The BinWise program, known for its wine app list features and its mobile compatibility, will keep your drink orders running smoothly.
When it comes to hotel inventory management software for rooms, software that comes in handy is hospitality and accounting software. This software helps you keep track of finances and operational efficiency in relation to how your hotel bookings are doing.
Hotel Inventory: 8 Hotel Inventory Tips
Hotel inventory, from kitchen inventory to room and guest capacity counts, is an overarching process. The more comprehensive the hotel inventory management is, the better the hotel will be able to provide for guests.
These eight hotel inventory management tips and best practices will help boost the operational efficiency of a hotel inventory management practice. These tips cover everything from hotel room inventory analysis to counting the dishes and utensils needed for each meal.
8. Booking Analysis
A booking analysis is an examination of the rooms being booked, the prices paid, the guest data of bookings, and the frequency of bookings. A regular analysis of bookings allows you to optimize marketing tactics and room expenses for future inventory practices.
7. Market Analysis
A market analysis gives you insight into the competition you have in hotels in your area. It also provides insight into projected business for hotels in general. The hotel market can fluctuate locally and globally depending on seasonality, pricing, and global situations. A market analysis gives you information about what you can expect in the short and long term.
6. Guest Satisfaction Surveys
You can learn just as much from guest satisfaction surveys as you can from analyzing your bookings. When you put together your survey questions, include questions about the room service, the dining experience, and specifically, questions on whether anything was missing. These questions will give you answers about how your inventory products meet guest expectations.
5. Room-Adjacent Inventory
Room-adjacent inventory includes everything that goes into a well-crafted room. This includes cleaning supplies, technological support, extra bedding, and items like a hair dryer or a coffee maker that comes with every room. Paying special attention to these items will round out your service.
“Key Takeaway: Hotel inventory, from kitchen inventory to room and guest capacity counts, is an overarching process. The more comprehensive the hotel inventory management is, the better the hotel will be able to provide for guests.”
4. Maintenance Management
A part of hotel operations that guests won’t see in action but will rely on and appreciate is your maintenance management. From keeping spare plumbing parts ready, to being ready to change a lightbulb, hotel maintenance relies on inventory management with all of those parts.
3. Reorder Points Hotel-Wide
Knowing your reorder point is a vital component of every inventory management practice. Your hotel inventory reorder point will take a great deal of tracking if done manually, since so many hotel consumables have different rates of use. Keeping track of your reorder points will help keep your hotel running and your guests satisfied.
2. Department-Specific Inventory Lists
A hotel is a conglomeration of many moving parts spread across all the departments. From the food and beverage department to the housekeeping department, there are daily practices and inventory needs in every section of the hotel. Keeping department-specific inventory lists will help you keep everything organized, so that every department has what they need to keep up.
1. Hotel-Wide Teamwork
When it comes to overall hotel inventory management, the most important step is having a hotel staff that works as a unit. Of course, each department will have their own responsibilities, and not every person will work directly with everyone else. However, having departments that work together for the benefit of the hotel as a whole will keep everything running smoothly.
Frequently Asked Questions About Hotel Inventory
Whether you’re looking at hotel inventory in terms of room availability or with consumable items, there are plenty of questions you’ll come across. Our answers to these frequently asked questions will give you further support in understanding the importance of inventory management in a hotel business.
How Do Hotels Maintain Inventory?
Hotels maintain inventory by keeping track of inventory counts, inventory needs, and hotel finances. With help from inventory management software, hotels maintain inventory to be ready for guests, and to keep the finances of the hotel in order.
Why Is Inventory Control Important In Hotels?
Inventory control is important in hotels because so much of the business depends on providing what guests need, when they need it. From having rooms available to stocking the right bottles of wine, hotel inventory management allows hotels to keep guests satisfied. After all, that’s what hotels are all about.
What Is the Goal of Inventory Management?
The goal of inventory management is to keep inventory running smoothly, even when factors outside of inventory control are causing trouble. With supply chain management issues and turbulence in the hotel and hospitality industry, hotels can face struggles with keeping inventory in the green. Inventory management is a way for hotels to do everything they can to work things out as best as possible.
What Is Physical Inventory In Hotels?
Physical inventory in hotels is the physical counting of the inventory items moving in and out of the hotel on a daily, weekly, monthly, and quarterly basis. A perpetual inventory system works well for hotel inventory that is fast-moving. A periodic inventory system-perhaps paired with an inventory sheet template-can be the right choice for slower-moving items.
How Often Should a Hotel Conduct Inventory Counts?
The frequency of inventory counts in a hotel depends on the type of items being tracked. For fast-moving items like food, beverages, and linens, counts should be done daily or weekly to prevent stockouts and spoilage. Slower-moving items such as cleaning products or maintenance tools can be counted monthly, while long-term assets, such as furniture or equipment, may only need to be inventoried quarterly or annually.
What Are the Common Challenges in Hotel Inventory Management?
Some of the most common challenges in hotel inventory management include overstocking or understocking, which affects cost and availability; tracking perishable items, especially in food and beverage inventory, to prevent spoilage; and discrepancies between actual stock levels and records due to human error or theft. Hotels with multiple properties also face the challenge of maintaining consistent inventory practices across different locations.
How Does Technology Improve Hotel Inventory Management?
Technology plays a crucial role in improving hotel inventory management by automating stock tracking and reordering, providing real-time data, and reducing human error. These systems can integrate with other hotel management tools, such as PMS (Property Management System) and POS (Point of Sale) systems, ensuring inventory is always up-to-date. Technology also offers data-driven insights, enabling hotels to make informed decisions regarding future orders, usage patterns, and cost control.
Hotel Inventory Management: Check Into Great Inventory Practices
Hotel inventory management is an ongoing process. From the time you open for business, then every day after, inventory management is a constant component of hotel success. Come back to the BinWise blog for more hotel and hospitality content as you optimize your hotel business.