Stock Control and Inventory

Increases costs for businesses as holding stocks is an expense

• Overstocking

• Stockout

• Stock control

• Inventory

A way of tracking what and how much inventory a restaurant has at all times.

• Overstocking

• Stockout

• Stock control

• Inventory

The "safe" amount of stocks that need to be held to cover unforeseen rises in demand or problems with reordering supplies.

• Overstocking

• Stockout

• Stock control

• Buffer stock

Occurs when a business runs out of stock

• Overstocking

• Stockout

• Stock control

• Inventory

Refer to materials ready to use in production.

• Raw materials and components

• Work in progress

• Finished goods ready for sale

• Packaging material stock

• Maintenance, repair, and operating (MRO) supplies stock

Refers to the stocks of unfinished goods in production, also known as semi-finished goods.

• Raw materials and components

• Work in progress

• Finished goods ready for sale

• Packaging material stock

• Maintenance, repair, and operating (MRO) supplies stock

The final products obtained after applying the manufacturing process to raw materials and semi-finished goods.

• Raw materials and components

• Work in progress

• Finished goods ready for sale

• Packaging material stock

• Maintenance, repair, and operating (MRO) supplies stock

Refers to the inventory of materials that a company uses to pack goods.

• Raw materials and components

• Work in progress

• Finished goods ready for sale

• Packaging material stock

• Maintenance, repair, and operating (MRO) supplies stock

Refers to the materials consumed in the production processes but do not form part of the finished goods.

• Raw materials and components

• Work in progress

• Finished goods ready for sale

• Packaging material stock

• Maintenance, repair, and operating (MRO) supplies stock

Consistency in managing stock items is the most crucial aspect of a food and beverage business.

• Counting the stock items

• Organizing the food storage

• Stocktaking team

• Using an inventory consumption sheet

• Tracking the sales every day