With the madness of Christmas and New Year a distant memory, more time and attention can be given to minimising the impact of the cost-of-living crisis in the year ahead.
In a visit to one of our customers recently, we helped them to carry out eight easy actions that, once implemented, saw GPs start to increase almost immediately – improving their bottom line and making a huge difference to their financial reporting.
By having full visibility of your inventory, you can maximise profit margins, which in turn will help you to make better decisions around purchasing, sales and marketing, enabling you to sell more products and reduce the need to mark down old, unsold stock.
So why not take the opportunity in a quiet moment to focus on getting your stocks in order by completing this checklist:
- Ensure all purchasing and cost prices are correct and ensure all delivery notes are accepted in your EPoS
- Ensure that all old, obsolete products are not being displayed on your EPoS system
- If your POS allows you to set up suppliers behind your products, ensure the correct supplier is enabled as default to ensure you’re ordering stock from the correct place
- If your EPoS system uses recipes, make sure your recipes are correct and up to date with the latest ingredients from the right suppliers
- Double check that all Promotions and Discounts were set up correctly for the Christmas Period – and start thinking about upcoming events for the year
- Triple check that all figures are correct before accepting any new stock orders
- Get into the habit of reporting on your stock every 7 days, in order to keep a firm eye on your weekly usage of stock and make sure you’re spotting any potential issues/mistakes as quickly as possible
- You may benefit from additional stock training to ensure that your team are following the correct stock procedure – Get in touch with your provider to find out what training they have available to upskill your team
If you’re using a purchase-to-pay solution that’s fully integrated with your EPoS:
- Ensure all deliveries have been reconciled and accepted in your purchase-to-pay solution
- Check all products and prices are correct in your purchase-to-pay solution
Please get in touch to learn more about how Zonal technology can help operators manage costs.
By Andy Robinson
Customer Success Consultant at Zonal
Andy is a Customer Success Consultant at Zonal with over 20 years’ experience working in the hospitality sector, and works closely with our customers to ensure they’re getting the most out of their technology, as well as voicing feedback to our product teams to help drive innovation.
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