Liquor Inventory Spreadsheet

Liquor Inventory Spreadsheet – If you are in the hotel business you will know that selling alcohol can leave a lot of room, and many will think that running a bar is easy, but you know it is not.

There are factors to take into account and if we do not manage properly we can leave more losses than profits.

How to control the inventory of liquors and alcoholic beverages of your establishment?
Inventory Control Tools
For example, when faced with the dilemma of what types of alcoholic beverages to offer and which alcoholic beverage providers to turn to, we realize that making the decision has some difficulty because of:

The immense variety of spirits from which to choose.
In some cases the rotation of certain types of inventories is low so the recovery of the invested is slow.
Limitation of space to expose, and store many varieties of liqueurs.
How to control the inventory of liquors and alcoholic beverages of your establishment?

As mentioned above, alcoholic beverages, and especially certain quality liqueurs are priced so you must be measured when making purchases. We recommend following these steps:

1.- Make an initial list of drinks with alcohol, here we will include all those drinks more popular, or more consumed by the public that frequents your local. As you get to know your clientele you can go buying new types of liquors or brands. This list is good to structure according to categories, brands, sizes, etc.

2.- Contact local alcoholic beverage companies to inform you about prices, credit conditions, discounts for prompt payment, discounts for volume, promotions, possible contribution of promotional material by the brands. This way you can get the best possible conditions.

Inventory Control Tools

3.- Establish an inventory control system, some of them can be:

Inventory control software, there is a great variety, the most specialized will indicate the quantities to be ordered from each liquor according to the parameters you establish of reorder points, maximum levels, levels of purchase and sale, among others.
Spreadsheet, where you take the control manually, starting from an initial inventory, purchases according to brand / liquor and value thereof for you. Then comparing these figures with your sales you can detect if you have any problems in the administration of purchases of your bar.
Manual system, carrying some inventory type cards, where purchases and warehouse exits are recorded.
4.- Check the initial stocks to set the starting point of your control, here you must include the bottles and barrels both in store and those that are already open or placed in the bar.

Note each of the purchases and / or exits from the bottle store. Tell the staff that when they take a bottle from the store they register it in a book that you have for this purpose, this will help you to better control the inventory.
5.- Do a weekly review, you can not run the risk of running out of inventory, nor should you buy in excess. It is also a good way to check what has gone into the store, and if there is an error in the purchase you must solve it at that time.

At the end of the month (or whatever period of time you think appropriate) you should make a physical inventory of the alcoholic beverages available at the store and at the bar. Calculate the difference between these quantities and those indicated in the initial inventory. At this point, for each line of your inventory you must apply the following formula: Initial inventory + Bottles bought – Bottles taken from the warehouse = Final inventory
6.- If there are substantial differences between the physical inventory and the one that according to your records should have, analyze the possible causes of this difference:

  • Stole
  • Breaks
  • Registry Errors
  • Unbilled beverages
  • Poorly trained staff (waste)
    In each of these cases control or training measures can be taken to correct them, it is important that the personnel are properly prepared to serve the alcoholic beverages properly, as well as to keep the appropriate records as to the handling and billing of the drinks.

Selling alcoholic beverages and spirits can be a great source of revenue for your business, but inadequate inventory management could be the way to failure, so in addition to calculating prices correctly do not neglect this part of managing your business.

Liquor Inventory Spreadsheet

See More!

Tag : Liquor Inventory Spreadsheet, Inventory Spreadsheet