The Elite Inventory Group
- 2 days ago
The Elite Inventory Group
- Apr 11
The Elite Inventory Group
- Apr 4
The Elite Inventory Group
- Mar 19
Serving MD, DC, VA, WV, PA, NJ and DE since 1998
We are a full service inventory management company with 30 years of experience. Inventory assets typically represent 45-90% of a companies expenses. Not controlling them correctly can be financially fatal. When controlled properly you balance inventory levels in proportion to demand, minimize shrink, reduce stock-outs, overstock & markdowns that erode profits and paralyze cashflow. You learn your product cycles, lead times, order points and ensure accurate, timely tracking and accounting.
Get a quote today or schedule a consultation! We can count your inventory and if desired customize a profitable inventory control plan & software system for your business.
How do you set par inventory levels in a bar?
Here's the formula for par stock:
Par Level = (Average Inventory Usage + Safety Stock) / Number of Deliveries per Time Period.
Here is how to use the par value formula to determine par level.
First, consider historical usage. In setting the par level for a specific vodka bottle, look at your bar’s past usage and note that you used 400 vodka bottles over a period of 3 months.
Then calculate average usage. Divide the total number of bottles used in a period of time over the number of months. You'll get the number of bottles that your bar uses per month. In our example, 400 vodka bottles divided by 3 months is 133 bottles per month.
Are you tracking your inventory & monitoring your success? Call today and see our Products line for affordable hardware & software tracking solutions.
Profit margin shrinking? Our Shrink & Loss monitoring service can help!
Monthly cycle counts @ a 25% discount
3-Month cycle counts @ a 20% discount
4-Month cycle counts @ a 15% discount
6-Month cycle counts @ a 10% discount
Cycle counts done on schedule @ a discount!
By tracking and monitoring inventory on a frequent & structured basis a company can significantly improve the accuracy of its inventory quantities and financial reporting. The consistent monitoring of management will keep employees honest and reduce theft & other forms of shrink. It results in better decision making about reorder points, out of stock inventory and excess inventory. It can help you to locate items & depts of high discrepancy and then determine the cause in time to prevent thousands of dollars in lost profit.