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How do customers benefit from improved inventory management?

2/25/2015
The ability to get new customers in the door and turn them into repeat buyers is what separates the businesses that simply scrape by and the ones that see sustained growth. According to a study featured in Quality Digest, a five percent increase in customer loyalty can boost profits by 75 to 85 percent.
Great customer service involves many different activities, but one of the most powerful yet underrated components of it is accurate inventory management. Here are some ways that improving your inventory management system can bolster your restaurant's customer service.
"Stockouts are a problem for both the business and the customer."
Restaurants can avoid stockouts
Stockouts are a problem for both the business and the customer. When customers come in ready to make a purchase but have to be turned away because the item they wanted isn't in stock, you can rest assured they will take their business elsewhere.
An efficient and accurate inventory management system can help businesses prevent stockouts by tracking how much product is currently in stock. Then, using established trends, managers can easily forecast what ingredients or items will need to be ordered to meet future demand . This allows managers to place orders far enough in advance so that the proper inventory arrives exactly when it's needed.

Restaurants can improve their customer services by implementing more efficient inventory management systems.Restaurants can improve their customer services by implementing more efficient inventory management systems.
Reduced inventory costs can be passed on to consumers
An improved inventory management system can reduce inventory carrying costs and lead to lower prices to the customer, greater profitability to the company or both.
Carrying excessive inventory can also tie up capital and prevent expenditures which can help drive sales.  A good inventory management platform gives managers instant access to the information needed to ensure customers can get what they are looking for from you.
Special events can be accommodated
A good inventory management system will be flexible enough to allow for customized orders for special circumstances. For instance, if a store expects it will experience heavy traffic due to a community event, it can increase its inventory for that day alone.
Events like these can be a great way to be exposed to new customers, so it's imperative that restaurants do what they can to make sure everyone walks away satisfied.