Podcast
Questions and Answers
What can happen if a store counts too little of a specific good?
What can happen if a store counts too little of a specific good?
The ideal stock is determined automatically on Wednesdays.
The ideal stock is determined automatically on Wednesdays.
False
What does OOS stand for in stock management?
What does OOS stand for in stock management?
Out Of Stock
Effective communication with the purchasing manager is essential for __________ assessments.
Effective communication with the purchasing manager is essential for __________ assessments.
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Match the following terms with their descriptions:
Match the following terms with their descriptions:
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What should be done before counting bar stock?
What should be done before counting bar stock?
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A recount report is sent out on Sundays between 20-21 hours.
A recount report is sent out on Sundays between 20-21 hours.
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What indicates a need for ideal adjustment in stock assessment?
What indicates a need for ideal adjustment in stock assessment?
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The significant over or under usage requires entering data in ______.
The significant over or under usage requires entering data in ______.
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Match the stock terms with their definitions:
Match the stock terms with their definitions:
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Study Notes
Stock Management Overview
- Running out of ingredients can prevent the store from making specific products, resulting in guest dissatisfaction.
- Insufficient counting of goods leads to over-delivery, causing waste and disposal of excess products.
Performance Metrics
- Out Of Stock (OOS) is a key performance indicator (KPI) linked to the "Ideals" metric.
- Ideals represent the optimal number of specific items required, with counts taken affecting Wednesday’s ideals while Friday's ideals are automated.
- Correct ideal assessments aim to eliminate issues like Out Of Stock events, store transfers, and Potential Lost Turnover (P.L.T).
Daily Operations
- Regular bar operations provide valuable insights for proactive ideal assessments.
- Adjust ideals upwards if specific goods are consistently low, and always count stock after store closure for accuracy.
- Breaking down stock counts into smaller areas aids in error reduction and simplifies future counts.
Recount Procedures
- Recount Reports are issued each Sunday between 20:00-21:00, documenting significant over or under usage.
- Types of reports include:
- NO USAGE: Stock level unchanged from the previous week.
- TYPE IN MISTAKE: Errors from incorrect quantity entries.
- ZERO STOCK: Indicates a need for ideal adjustment when no stock is available.
- NEGATIVE USAGE: More stock reported than the previous week, indicating discrepancies.
Stock Handling Framework
- Effective stock handling involves numerous components including:
- Count, Recount, and tracking Negative Usage.
- Managing Orders, Deliveries, and Waste Control.
- Adherence to deadlines for optimal stock management.
Organizational Structure
- Stock management is crucial for store operations, supported by various managerial roles:
- Bar Managers, Regional Managers, and Area Managers collaboratively enhance operational efficiency.
- Support functions include Finance, HR, Training, and Supply Chain, all vital for fostering a customer-centric environment.
Vision and Goals
- Aiming to establish a globally recognized people-centric food and beverage brand by delivering exceptional experiences for staff and guests through rigorous stock control and operational excellence.
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Description
This quiz explores the challenges and strategies in supply chain management, particularly how ingredient shortages can affect product availability and customer satisfaction. Participants will evaluate the impact of various factors on profit and operational efficiency.
