It is standard procedure for retail businesses to put safeguards in place to prevent thefts from occurring. If you walk through a retail store, you know there are cameras in every corner and all items have a security tag. While it is the customers that account for any theft in retail stores, how about when it comes to restaurants? Did you know that restaurant theft amounts to 75% of inventory shrinkage? The reason for this theft is your employees and like retail operations it is time to start keeping track of items.
An inventory is critical to a restaurant business as it can impact financial stability. The inventory contains goods that generate income for your restaurant. Inventory shrinkage leads to depletion of potential income and thereby, profits.
So what can restaurants do when there is inventory shrinkage due to employee theft? It is not like you can watch the camera around the clock. After all, from the restaurateur to the chef to the waiting staff everyone has to be hands-on in providing customers the best possible service. At the same time, you cannot let the inventory continue to shrink without taking some action.
The truth is that it is not going to be easy to track the inventory in real-time. But, that doesn’t mean you shouldn’t implement safe practices to keep the shrinkage to a minimum. Did you know that approximately 15 items account for at least 50% of the total inventory? If you keep track of these key goods, shrinkage due to theft can be greatly reduced.
As employees take front-end role in any restaurant including the inventory, it is important that employees are equipped with the tools to help reduce inventory shrinkage. Reducing inventory shrinkage requires practical steps and diligence from the restaurateur and every employee