Last Updated On November 21, 2019 / Written By Michelle Jaco

5 Features of the Best Inventory Management Software

In order to find the best available software, you need to know which features to look for when shopping around. Here are the key features that will greatly help every restaurant improve inventory management processes.

Introduction

If you’re a restaurant owner, you know that managing inventory using just a pen and paper is very difficult. To relieve some (or all) of the frustration, you need to use the best inventory management software. But which one is the best?

There is no software that will be the best for everyone. No software will perfectly fit everyone’s needs.

But in order to find the best software, you need to know which features you should look for. These are features that will greatly help every restaurant and are a must-have in order to ensure effective inventory management.

Feature One - Inventory Tracking

Your chosen best inventory management software should have the ability to track sold products, the total cost of food, and the total price of sold items - just to name a few key aspects.

The system should be able to automatically generate inventory reports, such as reports that indicate which products sell the most, and reports that track waste.

Effective inventory tracking will ensure you know when you need to order new products, which helps you form better buying habits. It will help you make sure you always have just enough in stock, making sure not to overstock or understock - both can cause a loss in profit.

In the end, the final result is a higher net profit for your restaurant.

Feature Two - Recipe Tracking

In order to make the best decisions on what you should purchase and what needs to be purchased next week, you need to know the recipes for each product on your menu.

The best inventory management software should let you add the recipe for each menu item in the software. This gives you easy access to details like how many of a product you can make with current inventory.

If you know which product sells the most, you’ll know which ingredients to order more of. You don’t need to be a chef; you can see the recipes directly in the app.

This will also allow you to properly enforce cooking rules, such as how much of an ingredient should be put in a certain product. This means that no matter who cooks the food, it’s always going to taste the same.

Feature Three - Mobile Apps

You probably know that having a computer or laptop on you while accounting for your entire in-house inventory isn’t exactly practical. That’s why you need to search for inventory management software that comes with mobile apps for both Android and iOS.

It makes the job much easier when the device you need fits in one hand. This will also make it easier to fix previous mistakes or errors that the software warns you about.

On top of that, it makes it extremely easy for your cooks to follow the recipe from a phone or tablet. No need to have a computer or a laptop in the kitchen.

Feature Four - Error Reporting

We’re human, and it’s not uncommon to make mistakes while working. In fact, it’s inevitable that it will occur at some point. But in this case, the mistakes can be catastrophic, depending on what kind of mistakes is made.

Even if the mistake wasn’t due to a cause in human error, you need to know about it before it becomes a huge problem for you, otherwise, you won’t be able to fix it in the quickest time possible.

With the best inventory management software, you should get alerts about possible inventory-related issues and be able to prevent them before they interfere with the wellbeing and progress of your business.

One error can create a chain of problems that can take days, or even months, to rectify. A problem of this magnitude can make you lose customers at an accelerated rate, bring in too little or too much stock, or waste food and ingredients.

In short - a problem like this can present a huge loss for your restaurant.

Feature Five - Voice Commands

This feature is an interesting one, and it may go overlooked by many who don’t realize the true practicality of this function. It may be out there, but it’s certainly not useless.

Imagine your hands are full, and you need to count inventory. You can’t do that because your hands aren’t free to operate the device. You must instead stop what you’re doing and set everything down.

That’s when you’ll be thankful for having voice commands. Simply voice the command out loud of the item you want to count and the app will complete the task without you needing to touch anything on the device.

Conclusion

If you’re still using pen and paper to manage your inventory, you need to stop and reconsider your resources and methods.

Experiment with software to complete the task, and it’s guaranteed that you will never go back to pen and paper.

The software can reduce the time it takes to track inventory by more than half. On top of that, it provides you with features that make sure your inventory never gets in the way of business.

Features like error-reporting, inventory reports, and integrated recipes are all key features you can expect when converting to advanced software solutions.

If you’ve decided to look for software, keep one thing in mind, search for a product that will satisfy all of your business needs.

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