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 Storage
Depending on the size of your operation, the process of purchasing receiving & storing can interact fairly closely. In larger operations these may become segregated.
The efficient practice of storage management encompasses;
- the knowledge of the safe holding temperatures for cool rooms, freezers, wine rooms, and dry stores.
- Maintenance of a hygenic environment with a schedule of cleaning rotating through each area.
- Responsible Store personnel who to ensure that produce is being turned over in an efficient manner and that there is not a build up of old stock in stores tying up alternate inventory.
- Financial management and control systems to maximize your $ invested in products.
The key to running an efficient stores area like many other things is to communicate throughout the departments. Some of the obstacles that regularly occur are;
- a change of season so that the holding stock of wines and beer change in number and characteristics.
- Menu changes with the seasons, when store managers need to inform the chef of what is left over and what is needed to be moved.
- Other par levels that change with seasonal movement.
The store manager is responsible to maintain an economic turnover of Product which should be at least once a week. (Depending on location)
Cost of sales is measured on stock that has been sold for revenue, however we also need to keep an eye on our holding levels as well Excess stock on the shelves is an asset $ value in Stock on Hand, but it is completely useless as working stock. It is best to ,roll it over and utilize the surplus cash to reinvest in current stock.
Store personnel should also be aware of the reporting cycle. As the Cost of Goods sold (i.e. is The food cost and the Beverage Cost is normally reported at the end of each month, purchases should be run down towards the end of each month, which assists in efficient stocktaking.
To manage your stores effectively it is advisable to track the following Ratio’s
Stock on hand : the value of stock compared to the sales achieved.
Average Inventory : Opening Stock + Closing Stock/ divided by 2
Inventory Turnover : Cost of Goods sold divided by Average inventory
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