As Sir Winston Churchill famously said, "however beautiful the strategy, you should occasionally look at the results." This has never been more relevant than in Hospitality. At Elemental, we help you to do exactly that. Unlike other Inventory Management Solutions, we not only give you the information you need, we actually work with you to solve the problem.
Take a look at our services below to see where we can help...
Inventory management is our focus and passion. With our Bevinco technology, Elemental provides
an audit service for bars, nightclubs, pubs & restaurants to help decrease loss of liquor, wine
& beer to theft, spillage & shrinkage.
It is a sad industry fact that the average bar loses at least 20 percent of inventory. Around 70 percent
of that is lost at retail value.
Bar product can go missing for many reasons, some of which are innocent and some not.
Missing product can be caused by anything from a lack of training on how to properly
comp, to a lack of understanding on the financial impact of giving away free drinks.
Loss at cost vs loss at retail
Losses from theft, employee drinking, spillage and returns of wrongly made drinks are losses at cost. In these scenarios, the business will lose the replacement value of the product.
Losses from unauthorized free drinks and drinks where payment ended up in the tip jar are losses at retail. Overpouring tends to effect losses at both retail and cost. Although the extra ounce served is a loss of product cost, the customer also might not order as many drinks if they reach their limit on fewer, over-filled drinks.
How we can help?
None of this is news anymore. However, we still talk to
owners who are surprised to learn that the majority of
their losses actually occur at the retail value!
With our Bevinco technology, we use a specific method of
analysis in our auditing that has enabled us to
continuously prove this fact in bars and restaurants of
all kinds. We begin all client relationships by conducting
a series of secret discovery audits to determine how
much product and income are missing.
During these audits, we make ninja-like, early morning
appearances at the bars where we measure each bottle,
weigh each keg and count each beer. Then, over a series
of days and weeks, we compare usage to sales and
produce a series of performance reports that help
determine baseline losses specific to each bottle.
Click HERE to check out Bevinco discovery audit reporting.
During this discovery period, we monitor the "profit per drink poured”, which we compare to the data collected after losses have been eliminated. This gives us a clear measurement of how much of the original losses were at cost and which were at retail.
At Elemental, we understand that days as an owner or operator can be quite crazy, busy and filled with many important tasks. Even if you’re interested in learning more about how particular inventory losses are impacting your overall business revenue, you might not have the time to dedicate to sorting it out. That’s what we’re here to help with. We can take care of figuring that out for you and assist in bringing those losses down significantly.