Inventory Management of Food, Beverage and other related items

Food, Beverage and related inventories are maintained and managed in accordance with guidelines to minimize the company’s investment and maximize return on Food, Beverage and related inventories through the use of a systematic inventory management system. The constant management of inventories is critical in maximizing profits and management time.

Inventory  Management  System

Inventory  Management  System  consists  of  the  following  components, most of which are detailed in separate procedural SOP’S:

1. Inventory
2. Estimating
3. Par Levels
4. Purchasing
5. Receiving
6. Storage
7. Issue
8. Accounting
1.  Estimating is the process of determining the quantity of Food, Beverage and items  needed  based  on  historical  sales  data  and  forecasted  business volumes.

2.  Inventory is the process of accurately counting all existing Food, Beverage and related items in stock. Inventories should be conducted at the same time each day/week (depending on need) following the same order/routine each time. Each hotel must develop its own procedures for taking and recording inventories. Food inventories are to be recorded on the MIS Sheets. All other should be recorded in a standard

format as determined by the hotel. It is  essential  that  all  inventories  be  as  accurate  as  possible  to facilitate the ordering of proper quantities of Food and Beverage items.

3.  Par levels are the quantities of Food, Beverage and related items that should be on hand at the beginning of the business day for use during the day or until such time as the next delivery is received.

4.  Purchasing is the process of ordering Food, Beverage and related items to arrive at the property with sufficient lead time to allow for proper storage, handling and preparation.

5. Receiving involves accepting, counting (weighing) checking quality and storage of Food, Beverage and related items. Management should oversee all receiving as this is a critical part of cost accountability and quality control.

6.  Storage requires constant attention to rotation, security, sanitation, etc.

7.  Issue  must  be  controlled  and  managed  properly.

8.  Accounting for  all  items  sold  and/or consumed must be  specific  so  that management is confident that all items have in fact been sold or consumed.