Format: PDF Booklet
No. of Pages: 21
Delivery: Instantly by Email

The Bar and Beverage Industry is notoriously famous for fraud and theft.

It has been estimated that as much as 20% of stock is lost through “shrinkage”, that is the losses as a result of wastage, spillage and theft.

By establishing efficient procedures as a manager, you can ensure that stock losses are reduced and that any shortages in stock are discovered swiftly.

You'll never eliminate stock loss completely - as long as there is human involvement in a process, then there will be human errror. The trick is to ensure that the staff involved are aware of the procedures and aware of the management's involvement in the stock control process.

The purpose of this booklet is to examine the areas of your business where losses can occur and look at ways to plug the hole so that your business can move forward safe in the knowledge that you have conducted a loss analysis of the most costly areas and formulated a strategy to reduce the likelihood of losing money in these areas.

So where are the costliest spots in your business? While every business is different, the following areas can make or lose money irrespective of whether you run a fast food takeaway or a high end bar.

These are:

• The Cash Register – Some experts estimate that as much as 80% of the losses/theft in your bar occur at the cash register, so it’s worth knowing how to identify such theft and how to prevent it.

• The Stores/Receiving Area – Suppliers in cahoots with your delivery man, short deliveries, over charging and under delivering can contribute to significant losses. We’ll explain the industry best practice and give you a step by step guide to streamline your receiving area.

• Premises Policies – Are your customers and Staff aware of your security policies. What should you consider to implement security policies to protect your stock, staff and customers? Do you have the correct insurance if all else fails?

• Direct theft/stock loss – Stock could be “walking” out the door everyday. If it is, how do you know and how do you stop it? The answers could save you a fortune and we have them!
Remembering the 7 Golden Rules of Cost Control will bring this booklet to a close and leave you with a summary of this invaluable guide.