Being part of back end processes and hidden behind the glitz and glamour of the hospitality industry is Store and Inventory Management. A rather important operational area, inventory management lets managers automate the process of tracking inward movement of raw-materials, managing recipe and production and consumption of food and beverages in the hotel.
While providing hotel service, it is required to procure and store a large number of inventory items on a regular basis. This generates a large number of transactions involving multiple people and departments that make it difficult to prevent malpractices (e.g. pilfering-of-goods or improper-disposal-of-usable-items) and corruption (e.g. under-supply-over-billing or inferior-quality-at-higher-prices). This eats up a major portion of the operating funds and directly affects profits and guest services.
A store and inventory management system integrated with your PMS module offers a perpetual inventory control system for procurement, purchasing, storing, issuing, production with physical stock verification.
Procurement and Purchasing responsibility: Replenishment module automatically lists out the items, that need to be to be procured with re-order quantity based on consumption during a specified period and pre-defined supply lead-time.
Stock Adjustments (Stock Journal): It helps you with proper recording of stock adjustments so that each activity is recorded to keep the inventory in sync with books. It includes procedures for disposal and writing-off stock with a proper recording and auditing system.
Physical Stock Check and Balances: It helps to record the physical stock of items based on random warehouse, brand, group, bin, etc.
Store Indent (requisition): It helps user to raise inter-branch indents and request for required items. Alternatively, central store, based on the consumption of each kitchen, can issue the raw-materials on a periodic basis.
The store and inventory management is the high-contribution department to success and growth of your business. If you take good care of this, it contributes to high profits.
Check out the inventory management features of FusionPMS by downloading a FREE demo here.